Amended Rules on Listing by Way of Introduction

March 9, 2011

PSE MEMORANDUM NO. 0105-11

Please be advised that in a letter of March 3, 2011, the Securities and Exchange Commission (the "Commission") advised the Exchange that the amendments to the Rules on Listing By Way of Introduction (the "Amended LBI Rules") was approved by the Commission on March 3, 2011. The suspension of the Rules on Listing by Way of Introduction announced on February 18, 2010 through Memorandum No. 2010-0072 is thus considered lifted subject to the amendments approved by the Commission. We attach as Annex "1" a copy of the Amended LBI Rules duly signed by the Exchange and the Commission. HEDCAS

The Amended LBI Rules will take effect on March 24, 2011.

(SGD.) MARSHA M. RESURRECCION
OIC, Issuer Regulation Division

Noted by:

(SGD.) HANS B. SICAT
President & CEO

ATTACHMENT

AMENDED RULES ON LISTING BY WAY OF INTRODUCTION

ARTICLE III

PART H

Listing By Way of Introduction

SECTION 1. Listing by Way of Introduction. — This applies to an application for listing of securities that are already issued...

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