ACCORD CAPITAL EQUITIES CORPORATION

GF EC-058B East Tower, PSE Center, Exchange Road, Ortigas Center, Pasig City, PHILIPPINES 1605 (632)687-5071 (trunk)
MARKET NOTES_Week 15_TD75_April 15, 2011_Friday
source: www.pse.com.ph

BENGUET CORPORATION [pse: BC]

Disc. No. 2011-2841 RETIREMENT OF DEBT
An additional 9.83% of its unsecured bank debts has been retired, leaving only 4.88% of such debts outstanding. This brings the
total settled secured and unsecured debts to 82.98 percent.

GEOGRACE RESOURCES PHILIPPINES, INC. [pse: GEO]

Disc. No. 2011-2843 ANNUAL VERIFICATION FROM MGB
The MGB Regional Office 5 issued certified that it has issued Exploration Permit (EP) V-2007-004 last December 11, 2007 to
Masbate10 Philippines, Inc for mining tenements in several municipalities in Masbate Province. The renewal of the cited EP is
currently being taken into consideration by the Central Office of the MGB. Likewise issued was EP V-012-2011-V to Masbate 1245
over mining tenements in the towns of Mobo, Uson and Milagros, also in Masbate Province. In connection with these certified
EP's, the Company has entered into an Exlucsive Option Agreement with both Masbate10 and Masbate 1245, where GEO was
granted an irrevocable SPA to sign an Exploration and Option Agreement with Vale Exploration Philippines. Also part of the
agreement with the “Masbates” signed in June 2008, is an exclusive option to purchase the two entities' issued and outstanding
stocks.

METRO PACIFIC INVESTMENTS CORPORATION [pse: MPI]

Disc. No. 2011-2869 EXPRESSION OF INTEREST IN LRT1 & MRT3
In contrast to what it believes were insinuated in reports appearing in some of the daily business broadsheets, the Company
reiterates it has NOT withdrawn its “Proposal to Expand MRT3” it submitted to the DOTC, nor of any action taken on such report by
the DOTC. Furthermore, the Company asserts it will not object to the bidding of the LRT1/MRT3 Operation and Maintenance
Contract provided such is consistent with the provisions of the existing Build-Lease-Transfer Agreement and duly disclosed in the
Terms of Reference. It is still studying the TOR and evaluating potential technical partners for the bid, but no decision has yet been
reached.

In another disclosure (Disc. No. 2011-2877) the Company confirmed its reported interest to take part in the bidding for the operatin
and management of the the Ninoy Aquino International Airport.

INTEGRATED MICRO-ELECTRONICS, INC. [pse: IMI]

Disc. No. 2011-2875 2010 REVENUE GROWS 4%
Strong China operations and recent acquisitions boosted IMI revenue to US$14.3 million, 4% better than the 2009 result. Last year,
the Company opened a factory in Chengdu, bringing its total to six (6) in the country. It also acquired 56% of PSi Technologies at it
pursues next-generation processes and modules consistent with the trend in “convergent technology.” Operating income reached
US$7 million, a 27% growth over 2009 while China added US$14.8 million. Net income after taxes came in at US$4.7 million.
Moving forward, the Company seeks to strengthen capabilities in the automotive, industrial and medical electronics as well as
renewable energy.

PNOC-EXPLORATION CORPORATION [pse: PEC]

Disc. No. 2011-2854 UPDATE ON SERVICE CONTRACT 63
The 50-50 Joint Venture with Nido Petroleum Ltd in SC 63 will enter the next Sub-phase of the exploration program on May 24,
2011 with a commitment of one well drilled between December 2011 and January 2012. The area in offshore Southwest Palawan
is proximate to multiple commercial discoveries and under-explored.

FILINVEST LAND, INC. [spe: FLI]

Disc. No. 2011-8565 CASH DIVDENDS
Dividend Amount : php0.196 per share (regular)
: php0.196 per share (special)
Ex-Dividend Date : May 10, 2011
Record Date : May 13, 2011
Payment Date : June 7, 2011

NOTE: For Friday alone, 27 of the listed companies, representing % of the total, have filed individual and separate requests for the
extension to file SEC Form 17A for the year ended-December 31, 2010.

itsDISCLAIMER: THE MATERIAL CONTAINED IN THIS PUBLICATION IS FOR INFORMATION PURPOSES ONLY. IT IS NOT TO BE REPRODUCED OR COPIED OR MADE
AVAILABLE TO OTHERS. UNDER NO CIRCUMSTANCES IS IT TO BE CONSIDERED AS AN OFFER TO SELL OR A SOLICITATION TO BUY ANY SECURITY. WHILE THE
INFORMATION HEREIN IS FROM SOURCES WE BELIEVE RELIABLE, WE DO NOT REPRESENT THAT IT IS ACCURATE OR CO MPLETE AND IT SHOULD NOT BE RELIED UPON
AS SUCH. IN ADDITION, WE SHALL NOT BE RESPONSIBLE FOR AMENDING, CORRECTING OR UPDATING ANY INFORMATION OR OPINIONS CONTAINED HEREIN. SOME OF
THE VIEWS EXPRESSED IN THIS REPORT ARE NOT NECESSARILY OPINIONS OF ACCORD CAPITAL EQUITIES CORPORATION ON THE CREDIT-WORTHINESS OR
INVESTMENT PROFILE OF THE COMPANY OR THE INDUSTRIES MENTIONED.
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