The present authorized capital of the Corporation is P5 billion and the outstanding shares including yesterday’s stock dividend will be P2,365,550,000 as of August 10, 2006.

The Manila Bulletin was established on February 2, 1900 or 106 years ago and is the first in the newspaper industry in the Philippines to go public. On April 18, 1990, it offered the general public who are Filipino Citizens, Corporations, Cooperatives and Associations wholly-owned and managed by Filipino Citizens, the opportunity to buy and own Manila Bulletin shares and become Stockholders of the nation’s leading newspaper.

Those who are interested in buying or investing on a long-term basis and owning a minimum of 1,000 shares or more based on the prevailing stock market price or at the seller’s price are welcome to contact any Licensed Stockbroker of the Philippine Stock Exchange, Inc. by placing their purchase orders directly:

After an investor buys shares at whatever price, the Manila Bulletin has no control or responsibility over the price at which the Stockholder may wish to dispose of his shares later on or at whatever price it may be traded in the Philippine Stock Exchange, Inc.

However, it is the policy of the present Manila Bulletin Management to do its best to operate the Corporation with profitability and to share its profits with the investors in the form of cash or stock dividends whenever and as much as feasible from the surplus profits of the Corporation.

Since the Manila Bulletin went public on April 18, 1990, or 16 years ago, the Corporation has declared ten (10) stock dividends with a total of 326.7175% and nineteen (19) cash dividends or a total of 453.792% based on par value of R1.00 per share, with a total of twenty-nine (29) stock and cash dividends or a grand total of 780.5095% as of July 13, 2006 as follows: