Dear Sir Pancho,

I am writing this to inform you about some "malicious" movements of fund from our company in the
form of cheques.

Upon my last audit of accounts, the company had written out a cheque running into hundreds of pesos
just to buy a group venture whose market capital is less than half the offer price. As a prerogative, I
reviewed all of these transactions and found out that the checks were released and endorsed by the
office of Director Margaux Uson. The group venture mentioned was also quite dubious which made me
think that it was just a "dummy" entity.

I am humbly asking for an aid to investigate this matter so that Director Uson could explain these
transactions and the rationale behind it. I do hope that this issue would be solved sooner before it
develops into full blown scandal which may tarnish our reputation with the investors.

rmpancho@up.edu.ph