January 30, 2002

BSP MEMORANDUM

TO : All Sectors/Departments/Offices

The Monetary Board, in its Resolution No. 2028 dated December 19, 2001 has approved the Plan of Merger between BPI Family Savings Bank, Inc. (Surviving Corporation) and DBS Bank Philippines, Inc., (Absorbed Corporation). THcEaS

The merger was approved by the Securities and Exchange Commission on January 14, 2002.

For your information and guidance.

(SGD.) ALBERTO V. REYES
Deputy Governor