PROXY

I, the undersigned, a bona fide stockholder in good standing of FIL-ESTATE LAND,

INC. (the “Corporation”), a corporation organized and existing under the laws of the Republic of
the Philippines, do hereby nominate, constitute and appoint ______________________________
as my proxy to represent me and register in my name and to vote on my behalf at the Special
Stockholders’ Meeting of the Corporation on 11 January 2007, as fully to all intents and
purposes as I might lawfully do if present and acting in person, and hereby ratifying and
confirming any and all actions taken on matters which may properly come before such meeting
or adjournment thereof.

I hereby authorize my proxy to vote with full discretion in acting thereon for the:

1) Approval of the previous minutes of the 2006 Annual Stockholders’ Meeting held
on 9 May 2006:
[ ] For [ ] Against [ ] Abstain

2) Ratification and approval of the increase of Authorized Capital Stock from P2.8
Billion to P5 Billion:
[ ] For [ ] Against [ ] Abstain

and such other businesses as may properly come before the meeting and all adjournments
thereof.

This proxy shall continue until such time as the same is withdrawn by me through notice
in writing delivered to the Corporate Secretary of the Company before the meeting, but shall not
apply in instance where I personally register my attendance just before the meeting.

IN WITNESS WHEREOF, the undersigned member has executed this proxy this ___ day
of ____________________, 2006.

____________________________________
Signature

LORENZO P. BENITEZ
____________________________________
Printed Name

114 Cairo St., Pasig Green Park, Manggahan

Pasig City
___________________________________
Address
_________________________________
Witness

This proxy is being solicited by the Management of the Corporation.