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Business Development Update - Clark Freeport Zone - Excel

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					     CLARK DEVELOPMENT CORPORATION
            Marketing Department




BUSINESS AND INVESTMENTS UPDATE
         as of December 2008
                                                             BUSINESS AND INVESTMENTS UPDATE
                                                                       AS OF DECEMBER 2008
                                                               CUMMULATIVE NUMBER OF SIGNED CONTRACTS

                                   LEASE       SUB-LEASE    OTHERS   TOTAL     PERCENTAGE         TOTAL AREAS            COMMITTED INVESTMENT            COMMITTED EMPLOYMENT
                                AGREEMENTS    AGREEMENTS                                         LEASED(hectares)            in Billion Pesos
            TYPES OF PROJECTS                                                                                          1ST YEAR         5TH YEAR        1ST YEAR     5TH YEAR
              INDUSTRIAL            91            119         1       211          26.64                     265.94             10.10           12.00       19,011        47,207
            AGRO INDUSTRIAL         17              -         --       17          2.15                       85.01              0.08            0.06          159           150
        COMMERCIAL/WAREHOUSIN       37             68         1       106          13.38                                         2.32            4.45        3,220         6,200
                                                                                                              47.48
                   G
              IT-RELATED            27             69         --       96          12.12                      11.14              7.16            6.51        7,413        14,336
           SERVICE-ORIENTED         45            148         3       196          24.75                       5.47              1.16            0.83         3055         5,848
           AVIATION-RELATED         20             14         1        35          4.42                       70.84              0.39            0.61          733         1,471
            TOURISM ESTATE          33              9         1        43          5.43                     2150.13             14.19           57.44       14,964        25,368
               HOUSING               60            --          2       62          7.83                      165.24              1.02            1.96          299             5
                UTILITY              12            2           6       20          2.53                        3.56              0.08           10.29           74            81
            INSTITUTIONAL             3            3           -        6          0.76                        0.00              0.01            0.01          262           260
                TOTAL               345           432         15      792          100                      2804.80             36.51           94.16       49,190       100,926



                                Total No. of Operational Firms                                                 434
                                Total No. of Non-Operational Firms                           \
                                Total No. of Terminated Contracts                                              130


                                                           NUMBER OF PROJECTS SIGNED PER YEAR

YEAR           Industrial        Agro Ind’l   Commercial      IT     Service      Aviation          Tourism           Institutional      Utility        Housing       TOTAL
                                                                                  Related
1993               5                 --            2          --        --           1                 --                  --              --             --             8
1994               12                --            8           1        --           1                 --                  --              --             --            22
1995               9                 --            9           1        2            --                --                  --              --             --            21
1996               12                --            10          1        2            1                  2                  --               1              2            31
1997               4                 --            4           1        7            3                  3                  --               2             --            24
1998               6                 --            2           3        5            1                  1                  --              --             --            18
1999               11                2             3           2        7            --                --                  --               4             --            29
2000               16                2             5           2        16           4                  1                  --               4             --            50
2001               16                --            3           2        9            2                 --                  --               1             12            45
2002               19                4             10         --        8            12                 1                  --               2              9            65
2003               11                1             10          3        16           5                  1                  --              --             18            65
2004               13                4             18         15        20           --                 3                  1               --             12            86
2005               28                1             6          15        30           2                  4                  1               --              7            94
2006               24                3             7          14        34           3                 11                  1                2              2            101
2007               17                --            2          13        26           --                 8                  1               --             --            67
2008               8                 --            7          23        14           --                 8                  2                4             --            66
TOTAL             211                17           106         96       196           35                43                  6               20             62            792




                                                                         Page 2
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                                                         SUMMARY REPORT ON INVESTMENT CONTRACTS SIGNED
                                                                        for the Month of December 2008

             TYPE OF                                  TYPE OF CONTRACT/AGREEMENT                                          Total Investment                 Total Employment
             PROJECT              NEW             EXPANSION             RENEWAL                 OTHERS      TOTAL      Commitments (in PhP)                   Commitments
                         Direct         Sub-    Direct    Sub-    Direct       Sub-       Direct    Sub-             1st yr.             5th yr.          1st yr.    5th yr.
                         Lease          Lease   Lease     Lease   Lease        Lease      Lease     Lease
Industrial                 1                                                      2                           3         72,000,000           72,000,000     45         45
Commercial/Warehousing
IT-Related                                                                        2                           2
Service-Oriented                          1                                       1                           2                30,000                       5
Aviation-Related
Tourism
Telecommunications
Water and Sewerage
Transportation/Utility
Residential Housing
Agro-Industrial
*Business Park
Institutional
                Total      1              1       0         0       0             5         0         0       7        72,030,000       72,000,000          50         0


                                                  CUMULATIVE SUMMARY REPORT ON INVESTMENT CONTRACTS SIGNED
                                                                        for January to December 2008

             TYPE OF                                  TYPE OF CONTRACT/AGREEMENT                                          Total Investment                 Total Employment
             PROJECT              NEW             EXPANSION             RENEWAL                 OTHERS      TOTAL     Commitments (in Php)                    Commitments
                         Direct         Sub-    Direct    Sub-    Direct       Sub-       Direct    Sub-             1st yr.             5th yr.          1st yr.    5th yr.
                         Lease          Lease   Lease     Lease   Lease        Lease      Lease     Lease
Industrial                 2              6                 4       1           22                    1       36    325,692,553.50      295,310,000.00    1,013       870
Commercial/Warehousing     1              6                 1                     3                           11      183,104,230        66,090,000.00     205        110
IT-Related                 1             23       1         5                   15                            45       821,426,223        2,182,383,388    969        545
Service-Oriented           1             12       3         8                   32          1                 57      533,508,512         519,475,000     2148        2053
Aviation-Related                                                                  1                           1
Tourism                    7                      2                                         1                 10     9,452,766,000       9,263,001,000    7100        7100
Telecommunications         4                                                                                  4        18,000,000            18,000,000     40         40
Water and Sewerage
Transportation/Utility
Residential Housing
Agro-Industrial                                                                                                      1,760,000,000       1,760,000,000
Business Park                                               1                                                 1                                           2000        2000
Institutional                             2                                                                   2        12,700,000        12,000,000.00     262        260
                Total     16             49       6        19       1           73          2         1       167   13,107,197,518      14,116,259,388    13737       12978




                                                                                       Page 3
                                                                                                                         CLARK DEVELOPMENT CORPORATION

                                                                                                                     Investments Promotion Division
                                                                                                            SUMMARY REPORT OF INVESTMENT CONTRACTS SIGNED
                                                                                                                     for the Month of December 2008
              PROPONENT                               NATURE OF PROJECT                     DATE                EQUITY          LEASED / SUB-LEASED AREA OR PROPERTY                LEASE/          INVESTMENT               *INVESTMENT              EMPLOYMENT
                                                                                           SIGNED                                                                                  SUBLEASE      COMMITMENT (Php)          COMMITMENT (Php)
                                                                                                                                                                                     TERM


                                                                                                         Local        Foreign                                                                                                                         COMMITMENT
                                                                                                                                                                                                                             1st Yr.       5th Yr.   1st Yr. 5th Yr.
INDUSTRIAL RELATED


Lease Agreement
P & C INTERNATIONAL CO., LTD., (New       Exclusively to set up an assembly and           22-Dec-08         -         100%      8,520 sq.m., Open Space & 200 sq.m. floor area      25 years              72,000,000.00    72,000,000.00                  45
Lease Agreement)                          manufacturing facility for medical equipment.                               Korean    od Bldg. N2094, bounded by Bayanihan and J.P.
                                                                                                                                Laurel Ave., Clark Freeport Zone, Philippines.


TOTALS FOR INDUSTRIAL RELATED PROJECTS                                                                                                                                                                   72,000,000.00    72,000,000.00                  45
SERVICE-ORIENTED RELATED
Sublease Agreement
MISSUA FOOD AND CATERING                  Exclusively for employees canteen, food &       8-Dec-08        DTI             -     76 sq.m., Bldg. 01C, Berthaphil Compound, Clark      1 year                   30,000.00        30,000.00                  5
SERVICES (New Sublease Agreement)         catering services.                                          Certification             Freeport Zone,Philippines.



TOTALS FOR SERVICE-ORIENTED RELATED                                                                                                                                                                          30,000.00        30,000.00                   5
                                                                                                                                                                                  GRAND TOTAL:           72,030,000.00    72,030,000.00                 50
FOREX: 1US $ = Php 47.50 (as of 05 January 2009)

Source:
*Investment Commitment:                   Project Evaluation Form
*Employment:                              Project Evaluation Form
*Export:                                  Project Evaluation Form




                                                                                                                                                 Page 4
                      SUMMARY OF CFZ FIRMS ACCORDING TO NATIONALITY
                                     As of DECEMBER 2008


  CLASSIFICATION                     # OF FIRMS               PERCENTAGE

      Foreign Firms                      144                     18.18
       Local Firms                       481                     60.73
Foreign with Local equity                167                     21.09
           Total                         792                     100.00

           Japan                         32                      22.22
            USA                          32                      22.22
           Taiwan                        10                       6.94
          Australia                      10                       6.94
           France                         4                       2.78
           Korea                         24                      16.67
British Virgin Islands (BVI)              7                       4.86
      United Kingdom                      9                       6.25
         Hongkong                         3                       2.08
          Canada                          1                       0.69
           China                          3                       2.08
           Dutch                          2                       1.39
             Italy                        1                       0.69
       New Zealand                        1                       0.69
          German                          1                       0.69
          Malaysia                        1                       0.69
          Cayman                          1                       0.69
            India                         2                       1.39
            Total                        144                     100.00




                                          Page 5
              Clark Development Corporation
  Enterprise Operations and Management Department
       TOP EXPORTERS FOR DECEMBER 2008
RANK                          ENTERPRISE                            Value (US$)
  1      NANOX PHILIPPINES, INC. Count                          $     32,693,684.81
  2      YOKOHAMA TIRE PHILS., INC. Count                       $     16,723,359.15
  3      L & T INTL GROUP PHILIPPINES, INC. Count               $       4,874,654.74
  4      SMART SHIRTS (PHILS.), INC. Count                      $       3,500,711.75
  5      SMK ELECTRONICS (PHILS.) CORP. Count                   $       2,505,219.42
  6      ROLLS-ROYCE ENGINE SERVICES LTDA, INC. Count           $       1,198,001.27
  7      PENINSULA FASHION INTL. CORP. Count                    $       1,080,988.23
  8      KEYGOLD MANUFACTURING, INC. Count                      $         789,384.48
  9      MULTI-TEK FASTENERS INCORPORATED Count                 $         609,424.54
 10      L & K INDUSTRIES PHILIPPINES, INC. Count               $         572,000.66
 11      ADERANS PHILIPPINES, INC. Count                        $         365,184.49
 12      GOLDEN STONE GARMENTS, INC. Count                      $         304,951.02
 13      MULTI-TEK FASTENERS INC (NEW) Count                    $         297,269.87
 14      O.E.M. INTERNATIONAL TRADING, INC. (NEW) Count         $         234,897.27
 15      ISENSORS INC. Count                                    $         221,175.00
 16      OAK LEATHER CLARK, INC. Count                          $         195,536.61
 17      TECHNOWOOD MANUFACTURING CORPORATION Count             $         189,941.00
 18      HANSA TOYS INTL INC. Count                             $         165,580.55
 19      MICRO HI-FI SOLUTIONS INC (NEW) Count                  $         157,142.62
 20      NATIONAL AGRIBUSINESS CORP Count                       $         155,438.64
                                                        TOTAL   $     66,834,546.12




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                                                                         LIST OF CFZ REGISTERED ENTERPRISES


                     ENTERPRISE                        TYPE OF PROJECT                                  PROJECTS                                                  ADDRESS                           Nationality

AVIATION-RELATED
API Asia Pacific, Inc., Sub-lessee of Berthaphil, Aviation-Related         Warehousing/distribution of aircraft parts and accessories, overhaul Jose Abad Satnos Avenue, 1961st Area, CFZ              USA
Inc.                                                                       and repair of aircraft parts and accessories and light manufacturing.

Aerotech Industries Philippines, Inc.             Aviation-Related         1). Aircraft and components repair/service station as one of the Bldg. 7242 Civil Aviation Complex, CFZ                     Italy
                                                                           Lessee's activities 2) Warehousing of spares, tools, equipment for
                                                                           aircraft repair/maintenance activities and for sales and distribution 3)
                                                                           Workshop areas and venue to perform aircraft servicing 4) Aircraft
                                                                           hangarage and warehousing.

Asia Overnight Express Corporation (AOEC) Aviation-Related                 1) Business Office for its domestic and International Air Cargo room 9, bldg 7588 (Airline Office Building, within       Philippines
(updated in payment as of June 2006 per                                    Transport Service inside CSEZ as a hub for its Asian network; 2) the Civil Aviation Complex of DMIA, CFZ.
CIAC/Jay)                                                                  Sharing of Office with Miascor Ground Handling Corporation
                                                                           exclusive ground handling service provider of Asia Overnight
                                                                           Express.
Asia Pacific Aviation Philippines, Inc. (Formerly: Aviation-Related        Office space purposes for its aircraft leasing activities only.      located at building 7231, Civil Aviation Complex,   Philippines
Asia Pacific Helicopters Philippines, Inc.), Sub-                                                                                               CFZ
lessee of Asian Aerospace Corporation
Asian Aeronautics Services, Inc., Sub-lessee of Aviation-Related           Aircraft maintenance and aircraft repairs only.                        located at Hangar 1, M.A. Roxas Highway, CFZ,     Philippines
Omni Aviation Corporation                                                                                                                         Phils.
Asian Aerospace Corp.                              Aviation-Related        to engage in Aircraft Service Center.                                  Bldg 7231, 7226, 7233, Clark Aviation Complex -   Philippines
                                                                                                                                                  CFZ
Asian Spirit, Inc.                                Aviation-Related         To carry on, by means of aircraft of every kind and description the bldg 7233, Civil Aviation Complex, DMIA, Clark       Philippines
                                                                           general business of common and/or private carrier, or charterer, Freeport Zone, Philippines
                                                                           engaged in the transportation of passengers, merchandise, freight
                                                                           and mail, and in this connection to acquire, purchase, lease,
                                                                           construct, own, maintain, operate and dispose of airplanes and other
                                                                           aircraft of every kind and description, and also to own, purchase,
                                                                           construct, lease, operate and dispose hangars, transportation
                                                                           depots, aircraft service stations/terminals and agencies, to
                                                                           manufacture/sell and lease aircraft and their spare parts to other
                                                                           airlines and other objects and service of a similar nature which may
                                                                           be necessary, convenient or useful as an auxiliary to aircraft and
                                                                           their spare parts to other airlines and other objects and service of a
                                                                           similar nature which may be necessary, convenient or useful as an
                                                                           auxiliary to aircraft transportation.


Asian Spirit, Inc. (Ticketing Office)           Aviation-Related           Sales and Ticketing Office.                                         Bldg 2086, Cardinal Street, CFZ                      Philippines
Aviation Enterprises, Inc. (AEI), Sub-lessee of Aviation-Related           Purchasing, selling, leasing aircraft and other airworth conveyance Hangar 7224, Civil Aviation Complex, CFZ
Seair, Inc.                                                                to third persons and establishing an avionic repair station.
                                                                                                                                                                                                    Philippines
CargoHaus Inc.                                    Aviation-Related         Cargo forwarding, warehousing, other high technology but light Wagner Ave., Street W-2, Street S and the MAC             Philippines
                                                                           industries, office space and showrooms and office/factory cafeteria Passenger Terminal, Clark Freeport Zone,
                                                                           and other related activities.                                       Philippines

Clark Airport Ground Handling Systems, Inc. Aviation-Related               To operate groundhandling services and other related services as CIAC Airport Complex, Clark Freeport Zone,               Australia
(JVA b/w CIAC and Airport Handling Int'l.)                                 listed in "Annex A" of the Joint Venture Agreement dated October Phils.
                                                                           30, 1997.




                                                                                                     Page 39
                ENTERPRISE                             TYPE OF PROJECT                                PROJECTS                                                     ADDRESS                             Nationality

Clark Airport Support Services Corp., (Formerly: Aviation-Related        To service the flight support and warehousing/logistics requirements Facility No. 7579 (former Alcatel Bldg) within the       Philippines
Clark Airport Flight Support, Inc.)                                      of companies in the Diosdado Macapagal International Airport as Civil Aviation Complex of the DMIA, CFZ,, Phils.
                                                                         follows: Integrated Ground Support Equipment ( GSE) maintenance;
                                                                         Cargo warehousing; Ramp handling; Passenger Handling.


Clark Aviation Services, Inc., Sub-lessee of Asia Aviation-Related       Office and ground handling operational needs.                          Bldg 7541, Civil Aviation Complex, CFZ
Overnight Express Corporation                                                                                                                                                                          Philippines
Cyber City Teleservices Ltd., Lessee of CIAC      Aviation-Related       Private hangarage such as parking and routing maintenance of vacant lot, left side of Street E within the Civil                  USA
                                                                         Cyber's aircraft.                                            Aviation Complex of DMIA, CFZ
Intercontinental Pacific Airways, Inc., Sub-lessee Aviation-Related      Office for airline operations only                                     Ground Floor, Business Center 3, CFZ                   Philippines
of Philexcel Business Park, Inc.
International Aviation Services Assistance, Aviation-Related             1) As an administrative office; 2) To support aircraft maintenance for located at units 4 and % of Bldg 7588, within the      Philippines
Lessee of CIAC                                                           both local and foreign carriers; 3) Storage of equipment, tooling Civil Aviation Complex of the DMIA
                                                                         materials as required per aircraft maintenance.


Island Transvoyager, Inc., Sub-lessee of Omni Aviation-Related           Office space for conducting Air taxi operation, scheduled and non- located at room 202, 2nd floor Hangar II, Hangar           Philippines
Aviation Corporation                                                     scheduled charter and other related cusiness activities.           office space, Omni Aviation complex, M.A. Roxas
                                                                                                                                            Highway, CFZ
Lubwell Corporation                               Aviation-Related       has commited to use the leased property for operating and CIAC Complex, Clark Freport Zone, Pampanga                          Philippines
                                                                         establishing the following: a) into-plane fuel services in the Clark
                                                                         Aviation Complex; b) Fuel storage facilities, identified as Integrated
                                                                         Jet Fuel service depot (IGF); c) Rehabilitation of the pipeline
                                                                         between CDC fuel farm and Clark civil aviation complex provided
                                                                         that Lessee shall solely be responsible in negotiating/contracting
                                                                         with CDC to accomplish the proposed rehabilitation and operation of
                                                                         the pipeline; d) fuel quality certification laboratory.


Lufthansa Technik Philippines, Inc., Lesse of Aviation-Related           Office and storage facility for the LESSEE's tools and equipment       Bldg 7588 (Airline Office Building) within the Civil
CIAC                                                                     which shall be used in the maintenance, repair and overhaul            Aviation Complex of DMIA, CFZ, Phils.
                                                                         operations of the LESSEE                                                                                                      Philippines
Mosphil Aero Inc., Lessee of Clark International Aviation-Related        engage, operate and carry on the general business of a common          Facility No. 7579 (former Alcatel Bldg) within the
Airport Corporation                                                      and/or private carrier by means airplanes, helicopters and other       Civil Aviation Complex of the DMIA, CFZ, Phils.
                                                                         aircrafts. For scheduled and/or non scheduled chartered flights both
                                                                         domestic and foreign, air commerce of passengers, mails,
                                                                         merchandise and freight of all kinds.
Omni Aviation Corporation                         Aviation-Related       To engage in using the leased properties as Aero Club, Aviation        Mitchell Highway on the South, the former Ammo         Philippines
                                                                         school, air tours, restaurant, general aviation related activities,    Storage Area to the West, Motocross track to the
                                                                         hangarage/moorage (storage, general aviation aircraft servicing and    East, and Matheny Ave. to the North, Clark
                                                                         maintenance, drag racing, and other sports related activities.         Freeport Zone, Phils.

Pacific East Asia Cargo Airlines, Inc., Lessee of Aviation-Related       Business Office for its Regional Freighter operations utilizing Bldg 7588-rooms 1, 2, 3,& 8 (Airline office bldg.)            Philippines
CIAC                                                                     A300B4F and/or B727-200F with an estimated cargo capacity of 40 within Civil Aviation Complex of the DMIA, CFZ,
                                                                         tons and/or 20 tons per flight; and from Clark to Cebu utilizing Phils.
                                                                         Antonov 12 and/or B727-100F aircraft five (5) times a week with an
                                                                         estimated cargo capacity of 10tons and/or 15 tons per flight. Ang to
                                                                         provide Filipino and Multi-national companies (exporters and
                                                                         importers) based in Central Luzon, a convenient and direct access
                                                                         to Cebu markets.




                                                                                                   Page 39
                 ENTERPRISE                              TYPE OF PROJECT                               PROJECTS                                                      ADDRESS                               Nationality

Philippine     Aviation     Security     Services Aviation-Related         1) To establish a satellite office (PASSCOR branch office) that shall   Bldg 7601, within Civil Aviation complex of CIAC,        Philippines
(PASSCOR) Corporation, Lessee of Clark                                     provide specialized servcies concerning safety and security             CFZ, Pampanga
International Airport Corporation (CIAC)                                   functions in the Aviation Industry; 2) To establish a PASSCOR
                                                                           Training School that shall provide aviation security-related courses
                                                                           to meet the demand of security services particualrly in the aviation
                                                                           area.
Rolls-Royce Engine Services LTDA, Inc., Sub- Aviation-Related              Sales, support and repair of aircraft engines, modules, components,     Bldg. 06, Berthaphil Compound, Jose Abad                    UK
lessee of Berthaphil, Inc.                                                 accessories and parts, and warehousing project only.                    Santos Avenue, CFZ, Pampanga

Seair, Inc. (formerly Vivere Isles Leisure Corp.)   Aviation-Related       Operation of passenger and cargo services between Clark-Manila-         Bldg 7230, 7236, within Clark Aviation Complex,     Philippines/ Germany
                                                                           Subic and other special economic zone, Manila and major tourist         Clark Freeport Zone, Pampanga
                                                                           destinations, like Palawan, Boracay, etc. and other routes to be
                                                                           developed within Palawan, Visayas and Northern Luzon; Hangar;
                                                                           and minor and routine maintenance and repair.
Societe Internationale De Telecommunications Aviation-Related              Installation and operation of the SITA remote ground station.    CIAC Rapcom equipment room, Civil Aviation
Aeronautiques, Lessee of CIAC                                                                                                               complex, CFZ                                                    Philippines
TDG Asia Corporation, Sub-lessee of Clark Aviation-Related                 General aviation services and as administration and marketing of bldg 7585 CASS Cargo Center, Civil Aviation
Airport Support Services Corporation (CASSC)                               the private chartering services.                                 Complex, CFZ
                                                                                                                                                                                                            Philippines
Transglobal Airways Corporation, Lessee of clark Aviation-Related          Operate, engage, provide air commerce in domestic and Washtrack area, within Civil Aviation Complex of                          Philippines
International Airport Corporation                                          international sector, chartered non-scheduled passenger and cargo CIAC, CFZ
                                                                           transport including but not limited to: aircraft and helicopter leasing,
                                                                           aircraft and helicopter maintenance and repair, cargo warehousing.


Trans-Global Consolidators, Inc., Lessee of Aviation-Related               Logistics Busines Centre including warehousing and consolidation Bldg. 7590 within the Clark Civil Aviation
CIACOR                                                                     of freight and cargo, cargo handling and lease of equipments.    complex, CFZ
                                                                                                                                                                                                            Philippines
United Parcel Service Co., Sub-lessee of UPS Aviation-Related              Office and administrative premises, and storage faciliteis only.      UPS Intra-Asia Hub, Civil Aviation Complex,                  USA
International, Inc.                                                                                                                              DMIA, CFZ
UPS International, Inc.                      Aviation-Related              1. Hub Operations 2. Philippine            Country    Operations   3. Clark International Airport Aviation Complex,                 USA
                                                                           International Freight Forwarding.                                     CFZ
INSTITUTIONAL PROJECT
Ateneo Graduate School of Business Sublessee Institutional Project         exclusively as classroom and a school for graduate studies and Unit 1F-3, Philiexcel Business Center 3, M.A.                  Philippines/USA
of Philexcel Business Park, Inc.                                           related business activities only                                      Roxal Highway, CFZ, Phils.
Edupacific, Inc.                             Institutional Project         Establish courses of study and give instruction by correspondence, Bldg 2090 Cardinal Santos St., CFZ                           Philippines
                                                                           tutorial, review and otherwise to persons that may discuss it, in
                                                                           language, mathematics, physics, arts and sciences and all subjects
                                                                           constituting a technical, scientific classical or academic education.


J.F. Dee Academy, Inc., Sub-lessee of Philexcel Institutional Project      To offer technical & vocational English language training . To offer Philexcel Business Park, CFZ, Pampanga
Business Park, Inc.                                                        high quality education specialized in English language among
                                                                           Korean students and enhance wholesome development in improving
                                                                           the ability to speak the language through systematic strategy of
                                                                           education.                                                                                                                   Philippines/Korea




                                                                                                    Page 39
                 ENTERPRISE                           TYPE OF PROJECT                                PROJECTS                                                     ADDRESS                              Nationality

International   Aviation   Group   Development Institutional Project     Aviation Technical Institute to provide technical training for along Jose Abad Santos Avenue, CSEZ                          Philppines /U.K.
Corporation                                                              commercial pilots, aircraft engineers, airline cabin crew and aviation
                                                                         operations support personnel for and behalf of airlines and
                                                                         individuals world-wide to internationally regulated standards without
                                                                         engaging in the establishment and operation of commercial aircraft
                                                                         or the purposes of transporting passengers and cargoes. The
                                                                         lessee may pursue such as alllied to, an auxiliary of, necessarily
                                                                         connected with, or as shall enhance, facilitate, or render conducive,
                                                                         or, as shall be favorable in its business operation.


NK International Co., Ltd. (New Sub-lease Institutional Project          Exclusively only for the following purposes; english training center 2,730 sq.m. 2nd floor corner P. Kalaw and R.                Korea
Agreement with Metro Clark International                                 for junior & senior group; call center; esl training center; golf training Magsaysay Avenues, Clark Freeport Zone, Phils.
Development Corporation)                                                 center and workshop & seminar training venue

North Hill Language Learning Center, Inc.        Institutional Project   Establishment and operation of an English Language Center for Bldg 5208, C.M. Recto Highway, CSEZ                           Philippines/Korea
                                                                         Korean Nationals including the following facilities: classrooms,
                                                                         dormitory for students, conference room, faculty room, canteen, etc.

COMMERCIAL/WAREHOUSING RELATED
Arjan Trading Corp.                              Commercial              Commercial Shopping center, restaurant and amusement center.          Dyess Highway, Clark Field, Pampanga                     Philippines

Balikbayan Shopping Mall Corporation             Commercial              To engage in a shopping mall that combines supermarket, discount Dyess Highway, CFZ, Pampanga                                  Philippines
                                                                         and warehouse retail store; wholesale, trading and transshipment of
                                                                         large assortment of imported merchandise ranging from routinely
                                                                         purchased goods (food and non-food products) to include
                                                                         construction materials, tools, equipment and finishing; hardware;
                                                                         agricultural products and equipment; car accessories; furniture,
                                                                         appliances and other household items; textiles; garments; toys;
                                                                         pharmaceutical; cigarettes and liquors; etc., with entertainment and
                                                                         amusement center.

Barretto Collections, Sub-lessee of Philexcel Warehousing                Old coins and paper money processing ONLY. Old coins and paper Room 11B, Philexcel BC1, CFZ, Phils.                            Philippines
Business Park, Inc.                                                      money will be imported from sources such as the Red Cross and
Bellfoods Corp.                               Commercial                 Baskin-Robin Ice Europe. Sorting and processing will Outlet, at
                                                                         Unicef from aroundCream Parlor, Mrs. Fields Cookies be done and Dyess highway, beside Lily Hill, Clark Freeport                Philippines
                                                                         Subway Sandwich Outlet.                                         Zone, Pampanga




Beverly Duty Free Store, Inc., Sub-lessee of Commercial                  a. Sale of wine, liquors and cigaretes, snacks, canned goods; located at Pura Kalaw corner R. Magsaysay                        Philippines
MCIDC (Assignee of California Mart II), Sub-                             computer hardware, software and parts, shoes, bags and belts; Avenue, CFZ
lessee of MCIDC                                                          under garments and RTW's; perfume and cosmetics; b. Sale of
                                                                         imported and local consumable (food and non-food) and non-
                                                                         consumable goods (Office supplies and equipment; household
                                                                         furniture, fixtures and appliances, agricultural tools and equipment;
                                                                         and automobile accessories, repair tools and equipment)




                                                                                                  Page 39
                  ENTERPRISE                        TYPE OF PROJECT                                   PROJECTS                                                  ADDRESS                            Nationality

Brook Warehousing Systems Co.                  Commercial                 Duty Free Shop; Furniture & fixture Showroom patterned after IKEA Bldg. 3678, along C.M. Recto Highway, CFZ,              Philippines
                                                                          of Singapore/Hongkong; Warehousing and Trading; Auction of Philippines
                                                                          merchandise except used clothing, motor vehicle and heavy
                                                                          equipment, and merchandise/products falling under the negative list
                                                                          (E.O. 139) issued by DTI or merchandise regulated under other
                                                                          laws, orders, circulars, etc. by the Phil. Govt.; and Office space for
                                                                          own use and sub-lease; Food court outlet and amusement arcade.

Clark Interiors, Inc.                          Commercial                 1). Duty free store for lamps, lighting fixtures, related electrical Centennial   Road,    Clark   Freeport    Zone,      Philippines
                                                                          parts and accessories, and other interior decors with assembly; 2). Philippines
                                                                          Home/Office Depot including but not limited to electronic and
                                                                          workshop items; 3). Coffee Shop; 4) Non-consumable items such
                                                                          as apparels, accessories, etc. and 5) Retail of food products/articles
                                                                          and other consumable products/articles.
Clark Liberty Warehouse Club, Inc.             Commercial                 To engage in Commercial Shopping Facility                               Along Dyess Highway, Clark Freeport Zone,         Philippines
                                                                                                                                                  Philippines
Clark Professional Product Lines, Inc. ( New Commercial                   Exclusively for satellite office for the promotion and distribution and 40 sq. m. Stall No. 13 corner P. Kalaw and R.     Philippines
Sublease      Agreement   with   Metro  Clark                             trading of office supplies, Kimberly Clark Products (for the Magsaysay Avenues, Clark Freeport Zone,
International Development Corporation)                                    washroom, workplace and safety) and Johnson Diversey products Philippines
                                                                          (e.g. floor care, disinfectants & sanitizers, laundry detergents and
                                                                          janitorial equipment to existing CFZ locators
Clark Trading Corp.                            Commercial                 Commercial shopping complex(Mall).                                      Dyess Highway cor. Wilson Street, Clark           Philippines
                                                                                                                                                  Freeport Zone, Philippines
D1280X Philippines, Inc. Sublessee of Berthephil Commercial/warehousing   exclusively of blending, repackaging, labeling and distribution of fuel Bldg. 22D, Berthaphil compound 1, Berthaphil    Philippines/USA
Business Park, Inc.                                                       additives (vegetable-based fuel additives for gasoline, diesel and Business Park, corner Jose Abad Santos & E.
                                                                          bunker C fuel subject to compliance of 70% 30% BIR Ruling               Quirino St., CFZ, Philippines

Demagus Trading Corp.                          Commercial                 to engage in trading, warehousing, wholesaling and retailing of Bldg 7272 Dyess Highway, Clark Freeport Zone,             Philippines
                                                                          imported articles from China and other countries to include but not Phillippines
                                                                          limited to finished goods, e.g. food products, toys, among others.




Dilbert International Warehouse & Logistic Inc. Warehousing               Office space and warehousing of goods including repacking, Unit 8A, M.A. Roxas Highway, CFZ, Phils.                       Philippines
(Sub-lessee of Philexcel Business Park, Inc.)                             repackaging, and forwarding to different destinations; computerized
                                                                          monitoring of incoming/in transit/ warehouse inventory and outgoing
                                                                          cargoes and other related activities only.
DT Interacts Philippines, Inc. Sublessee of Commercial warehousing        exclusively for warehousing and repacking of local consumer goods Unit 171 Philexcel Business Park, CFZ, Phils.         Philippines/India
Philexcel Business Park                                                   for 100% export to Sourth Africa, Middle East, USA, and other Asian
                                                                          Countries




                                                                                                   Page 39
               ENTERPRISE                           TYPE OF PROJECT                              PROJECTS                                                        ADDRESS                           Nationality

Ever Harvest Corp.                             Warehousing            1) Warehousing/trading, import, export and transshipment of general Feati Street, corner A. Bonifacio Ave., CFZ,             Philippines
                                                                      merchandise; and 2) To engage in the import, export, trading, Phils.
                                                                      transshipment, customized restoration, repairs and other services,
                                                                      such as but not limited to: custom detailing; custom refinishing of
                                                                      vehicles interior, exterior engine and engine bay, under-chassis
                                                                      detailing; micro-painting and custom touch of various parts of the
                                                                      vehcile; and specialized upholstery replacements of all types of
                                                                      motor vehicles to be exported to any foreign country or
                                                                      constructively exported to any other economic zones in the
                                                                      Philippine subject to compliance by the LESSEE with all the existing
                                                                      customs and business rules and regulations per Customs
                                                                      Administrative Order (CAO) 6-94. provided further, that the LESSEE
                                                                      shall be governed by Revenue Memorandum Circular No. 25-99
                                                                      (Disseminating the Ruling of the Commissioner of Internal Revenue
                                                                      on the Non-eligibility per VAT Zero-Rating of Automobile Sales to
                                                                      Entities Registered with PEZA, SBMA and Clark Development
                                                                      Authority) and with all the future rules and regulations that may be
                                                                      imposed by the government concerning the above-mentioned
                                                                      business operations.
Exporter 2000, Inc. (Sub-lessee of Nice Apparel) Warehousing          Warehousing and General trading                                      Bldg 7503 (portion) A. Bonifacio Avenue cor. J.         Philippines
                                                                                                                                           Tinsay Street, CFZ, Phils.
Food and Beverage, Inc.                        Commercial             1) Restaurant and Bar (Cocktail Lounge); 2) Duty Free Sales Outlet; CFZ, Philippines                                         Philippines
                                               LA under negotiation   3) Retail and Wholesale of Imported Wines and Liquors and other
                                                                      merchandise,

Garden International Corporation - Sub-lessee of Commercial           Importing, exporting, transshipping, distributing, warehouse-trading Stall No. 11, Mix Commercial Bldg., Metro Clark         Philippines
MCIDC                                                                 and selling (either by retail or wholesale) of imported and local Center, Pura Kalaw Ave., corner R. Magsaysay
                                                                      consumable goods (all food and non-food products such as, but not Ave., Clark Freeport Zone, Philippines
                                                                      limited to grocery items, agricultural and dairy products, processed
                                                                      meat products, wines, liquor, cigar, cigarettes, perfumes, cosmetics,
                                                                      food supplements, paharmaceutical and other health care products,
                                                                      pet foods, etc.) and non-consumable goods (such as but not limited
                                                                      to, general merchandise, office equipment, furniture and fixtures,
                                                                      appliances,     electronics   and    electronics    parts/accessories,
                                                                      computers, tires, car parts/accessories, health care products,
                                                                      textiles, garments, foot wears, handbags, toys, etc.); and to act as
                                                                      representative, here and abroad, of local or foreign manufacturers
                                                                      and their authorized distributors.

Gilroy Duty Free, Sub-lesse of Land Bank of the Warehousing           Sales of imported and local consumable goods such as (food and          Stalls Nos. 26 & 27, Lilly Hill Plaza, C.M. Recto,   Philippines
Philippines                                                           non-food, office supplies, petroleum, oil and lubricants) non-          CFZ, Phils.
                                                                      consumable goods (office equipment, household furniture, fixtures
                                                                      and appliances; brand new motor vehicles, accessoreis, parts and
                                                                      repair tools and equipment; restoration and repair of motor vehicles,
                                                                      medical, dental and laboratory equipment; and electronic
                                                                      components, accessoreis and repair parts) either on retail or
                                                                      wholesale.
Global Defense Technology, Inc.                Commercial             Technical Services:                                                     Bldg 4020, along centennial Road, CSEZ,              Philippines
                                                                      a) Repair of electro mechanical devices/equipment                       Philippines
                                                                      b) Calibration electro-mechanical devices/equipment
                                                                      c) Rehabilitation/upgrade aircraft engine test cell
                                                                      d) Built/upgrade calibration laoratory/facility
                                                                      e) Calibration consultancy
                                                                      Sales of the following:




                                                                                              Page 39
                 ENTERPRISE                               TYPE OF PROJECT                                 PROJECTS                                                ADDRESS                             Nationality

Kwality Philfood, Inc. (New Sub-lease Agreement Commercial                    Exclusively only for warehousing and repackaging of Philippine 100 sq.m., Unit 17E Philexcel Business Park, M.         Philippines/India
with Philexcel Business Park)                                                 made goods for 100% export to the Middle East                  A. Roxas Highway, Clark Freeport Zone, Phils.




Palecek Imports, Inc. (Assignee of Emerald Commercial                         To use the leased property for Central Office for the Asian Region Bldg nos. 4021 and 4022, A. Centennial Road,          Philippines
Dragon Group, Inc.)                                                           including the operation of a regional communication center, for CFZ
                                                                              showroom and trading office of current product lines (home
                                                                              accessories and furniture) and its materials and components, and
                                                                              production of prototypes of home accessories and furniture for re-
                                                                              export (not for resale into the local market).
Phoenix Gold Energy, Inc.,             Sub-lessee   of Warehousing            Office and warehouse for trading business and related business Unit 8B, M.A. Roxas Highway, CFZ, Phils.                  Philippines
Philexcel Business Park, Inc.                                                 activities only.




Premier Central, Inc.                                 Commercial              Establishment and Operation of a Commercial Shopping, Dining, IE-5 area, CFZ, Philippines                                Philippines
                                                                              Exhibit Halls and Entertainment complex or a Commercial mall
                                                                              similar to SM Shopping Malls in Metro Manila.




Prowthrowbacks General Merchandise-Clark Commercial                           to sell imported ready-to-wear clothes and sports related items.   Puregold Duty Free, Inc. Store's expansion bldg       Philippines
Field Branch, Sub-lessee of Puregold duty Free,                                                                                                  C.M. Recto Highway, cor P. Kalaw St., CFZ,
Inc.                                                                                                                                             Philippines




Reworx Corporation (New Sub-lease Agreement Commercial/warehousing            Exclusively for servicing and storage of electronics and electrical 1,000 sq.m. Unit 11B, Philexcel Business Park,   Philippines/Australia
with Philexcel Business Park, Inc.)                                           appliances and power tools for export                               Clark Freeport Zone, Philippines




Siccion Holdings,       Inc.   (SHI)    (New   Lease Commercial/warehousing   Exclusively for service/commercial project.                        9,100 sq. m. located along M. A. Roxas Highway,       Philippines
Agreement)                                                                                                                                       Clark Freeport Zone, Philippines




S.R.T.J. Marketing (New Sub-lease Agreement Commercial/warehousing            Exclusively for warehousing and trading of various grocery products 68 sq.m. Bldg. 18C, Berthaphil Compound 1,           Philippines
with Berthaphil, Inc.)                                                        for export to Middle East, Asia, Australia and Europe              Berthaphil Inc., corner Jose Abad Santos, Clark
                                                                                                                                                 Freeport Zone, Philippines




U.S. Distribution   Asia, Inc.,        Sub-lessee of Warehousing              Administrative office and warehouse yard for its professional tools, locate at Terminal Air Freigt, Street S, CFZ,     Philippines/USA
Cargohaus, Inc.                                                               machinery, supplies for auto dealership and professional mechanic, Phils.
                                                                              including but not limited to specialty materials required to service
                                                                              automobiles and commercial vehicles for export to its Asian markets.
                                                                              Seventy (70%) of their items shall be exported to be allowed renewal
                                                                              and registration.




                                                                                                       Page 39
                     ENTERPRISE                             TYPE OF PROJECT                                          PROJECTS                                                        ADDRESS                          Nationality

Value City Sales, Inc., Assignee of Royal Duty Commercial                                1) Duty Free Mall; 2) Store outlet/display/office warehouse; 3) To C.M. Recto Highway, CFZ, Pampanga.                         Philippines
Free Shops, Inc.                                                                         engage in the repackaging of selected products such as chocolates,
                                                                                         baby products and other health products for sale and /or distribution
                                                                                         to other duty free shops in and outside of the zone; 4) Other related
                                                                                         activities.

Winning Touch International Marketing, Inc., Commercial                                  To operate a Duty Free shop at the DMIA Arrival and Departure DMIA Interim                  Passenger   Terminal,   CFZ       Philippines
Lessee of Clark International Airport Corporation                                        area for retailer/assortment of imported and local merchandise Pampanga




HOUSING PROJECT
ELD Land, Inc. (JVA b/w CDC & ELD Land Inc.)          Housing Project                    To engage in the rehablilitation of one hundred (100) housing units      CFZ, Philippines                                     Philippines
                                                                                         located at the vicinities of Redwood and Poplar Streets.
New Sampaguita Builders Construction (for Housing Project                                Rehabilitation of one hundred (100) housing units located at the         CFZ,Philippines                                      Philippines
Housing Projects)                                                                        Redwood and Poplar Streets, CSEZ, Pampanga.
Rikko Homes II, Inc. (DORMITORY)          Housing Project                                Affordable Dormitory/Lodging Facility with Support Amenities such        Bldg 2041, 2043 & 2062 Ninoy Aquino Avenue,          Philippines
                                                                                         as Canteen, Coffee Shop, Internet Café, Business Center, Foot            CFZ, Phillippines
                                                                                         SPA, Locker and Laundry Services
Rikko Homes, Inc..                                    Housing Project                    a) Rehabilitation of seventeen (17) dilapidated housing units for sub-   Manungal and Pinatubo Street, CFZ, Philippines       Philippines
                                                                                         lease b) Office Spaces c) construction of support amenities (i.e.
                                                                                         swimming pool, clubhouse and mini park).
INDUSTRIAL
Aderans Philippines, Inc., Sub-lessee of Clark Industrial (Other Manufacturing)          Manufacturing of custom made wigs and other related products.            M.A. Roxas Highway, Clark Freeport Zone,                Japan
Premiere Industrial Park.                                                                                                                                         Philipppines

Agri Fruit Freezing Corporation                       Industrial (Other Manufacturing)   Food Processing Plant                                                    Building 7157, along C.M. Recto Ave., CSEZ,          Philippines
                                                                                                                                                                  Clark Freeport Zone, Philippines
All Fashion          Gloves,   Inc.   (Direct   Lease Industrial    (Garments      and Manufacturing of leather gloves and leather accessories.                   Bldg. 7360 and Bldg 7361, corner A. Soriano       Philippines/France
Agreement)                                            Sewing)                                                                                                     and P. Cruz Streets, CFZ, Philippines

Allkey Int'l. Inc.                                    Industrial    (Garments      and     1). Electronics Assembly 2). Specialty Garments -cleanroom Bldg 7208, along Street D-17 and D-18, Clark                     Philippines
                                                      Sewing)                            smocks and gowns for semi-conductor/electronics industry. 3). Freeport Zone, Philippines
                                                                                         Packaging-antistatic bags and special applications products. 4).
                                                                                         Container packaging - special shipping cartons supplies for semicon
                                                                                         industry. 5). Air filtration products. 6). Other related activities.


Amertron, Inc.          (Sub-lessee    of   Linaheim Industrial (Electronics)          To engage in industrial warehouse and factory for the assembly of Bounded by Mitchell Highway, Old Coral St.,                      USA
Properties, Inc.)                                                                      semi-conductor devices and other similar electronic products such Weston Ave., Ernest St., Hongkong Street and
                                                                                       as high frequency modules for telecoms.                           the perimeter fence along Road 1 (facing Barrio
                                                                                                                                                         Sapang Bato)
Angeles Garments Corporation - Sub-lessee of Industrial     (Garments              and Manufacturing, exporting, importing at wholesale and retail such Unit 15C1,E124 Philexcel Business Park, Inc.                   Philippines
Philexcel Industrial Park                    Sewing)                                   goods as garments and other related business activities.          M.A. Roxas, CFZ, Philippines
Apparel-Tech Int'l. Inc.                     Industrial     (Garments              and Garment Manufacturing and other garment related activities.       Dyess Highway, IE1, CFZ, Philippines                        Philippines/USA
                                             Sewing)
Asialuxe Philippines, Inc.                   Industrial (Other Manufacturing)            To engage in manufacturing of jewelry and fashion accessories.           Along Bong Highway, IE1, Clark Freeport Zone,          France
                                                                                                                                                                  Philippines
BAGONG BUHAY INTL BOX CO. INC. (New             Industrial (Other Manufacturing)         Manufacturing of carton boxes for export.                                270 sq.m. Unit 8A, Philexcel Business Park Inc.      Philippines
Sublease Agreement with Philexcel Business Park                                                                                                                   M.A. Roxas Highway Clark Freeport Zone,
Inc.)                                                                                                                                                             Philippines




                                                                                                                  Page 39
                   ENTERPRISE                           TYPE OF PROJECT                                          PROJECTS                                                      ADDRESS                                Nationality

Berthaphil, Inc.                                  Industrial (Other Manufacturing)   Establishment of a business park, catering to the following types of (former Horex Compound) along Jose Abad                 British Virgin Islands
                                                                                     business among others: Information Technology Center; Business Santos Avenue, CFZ, Pampanga
                                                                                     Offices; Business Arcade similar to the Rockwell Center;
                                                                                     Administration and other support facilities; Warehouse/trading and
                                                                                     distribution; Light manufacturing; Mixed used Business and
                                                                                     Commercial Center; and Other related business activities.

Berthaphil, Inc. (Assignee of Philexcel Textiles, Industrial (Other Manufacturing)   Industrial Park Development.                                            M.A. Roxas Highway, Clark Freeport Zone,             British Virgin Islands
Inc.)                                                                                                                                                        Philippines

Candice Apparel, Inc. - Sub-lessee of L & T Industrial           (Garments      and To engage in garment manufacturing for export only.                      A. Bonifacio Avenue corner J. Tinsay Street,              Philippines
International Group Philippines, Inc.       Sewing)                                                                                                          CFZ, Philippines

Carnival Design Group (PI), Corp., Sub-lessee of Industrial (Garments and            Garments manufacturing including but not limited to seasonal Unit 16C,               M.   A.   Roxas    Highway,    CFZ, Philippines/British/Canada
Philexcel Business Park, Inc.                                                        costumes.                                                    Philippines

Chitai Industry Philippines, Inc.                 Industrial (Other Manufacturing)   Investment casting (product lines include bicycle components, Gil Puyat Ave, IE1, CFZ, Philippines                                  Taiwan
                                                                                     marine hardware and other parts intended for special purposes)

Citigloves, Inc. (Formerly City Leather Gloves, Industrial     (Garments         and Manufacturing of leather fabric gloves & leather gloves accessories     Palm Street,, Clark Freeport Zone, Philippines        Philippines/France
Inc.)                                           Sewing)                              and other related activities.
Clark Agri-Tech, Inc.                           Industrial (Agro)                    Production of high value crops such as watermelon, cantaloupe,          located within the Clark Civil Aviation Complex,          Philippines
                                                                                     honeydew, asparagus                                                     CFZ, Philippines
Clark Premier Industrial Park                      Industrial (Other Manufacturing) To engage in an Industrial Park predominantly for Japanese Hi-tech       Located at Industrial Estate 5 (IE5) Roxas            Philippines/Japan
                                                                                     Industries.                                                             Highway, Clark Freeport Zone, Philippines
COAM Phil. Inc.,       Sub-lessee   of   Philexcel Industrial (Other Manufacturing) Establishment of a business engaged in the trading at wholesale,         M.A. Roxas Highway, CFZ, Philippines                      Philippines
Business Park, Inc.                                                                  sorting and recycling for 100% re-export of wearable clothing, wipers
                                                                                     and fibers using mixed rags/used clothing as raw materials.


COEX Incorporated                                 Industrial (Other Manufacturing)   Manufacture of COEX bottles (4 layers) and other types of single Bayanihan Street, CFZ, Philippines                               Philippines
                                                                                     layer plastic bottles using the latest state of the art equipment, with
                                                                                     the intention of supplying the agro-chemical industry here in the
                                                                                     Philippines and other ASEAN neighbors.

Conquest Philippines, Inc.                        Industrial     (Garments      and Manufacturing of garments particularly ladies' dresses.                  located along Korean Industrial Park, M.L.         Philippines/British/ China
                                                  Sewing)                                                                                                    Quezon and C.M. Recto Highway, Clark Freeport
                                                                                                                                                             Zone, Philippines
Creamline Dairy Corporation                       Industrial (Other Manufacturing)  Production of ice cream, cones, confectionaries, juices and different    Bldg 5270 along Claro M. Recto highway, CFZ,              Philippines
                                                                                    ice cream products to be marketed in the Philippines.                    Philippines
Crismina Garments, Inc. (Clark Project), Sub- Industrial         (Garments      and Manufacturing, exporting, importing at wholesale and retail such         Bldg 12A Philexcel Industrial Park, M. Roxas              Philippines
lessee of Philexcel Textiles, Inc.)           Sewing)                               goods as garments and other related business activities.                 Highway 1961st Area, Clark Freeport Zone,
                                                                                                                                                             Philippines
Cumper International Corporation (Sub-Lessee      Industrial (Other Manufacturing)   Assembly and storage of brand new generator sets.                       Bldg 11A, Berthaphil Compound, Jose Abad                  Philippines
of Berthaphil, Inc.)                                                                                                                                         Santos Avenue, CFZ, Philippines
Dae Kyung Garments Corporation (Sub-lessee of     Industrial     (Garments      and Manufacturing of goods such as garments/import and export of             Units 14C and 14D, M.A. Roxas Highway, CFZ,                 Korea
Philexcel Industrial Park, Inc.)                  Sewing)                           garments on wholesale basis.                                             Philippines
dBc Technologies Corp., Sub-lessee of Philexcel   Industrial (Electronics)          Manufacture high quality RF and microwave components and                 Unit 21A-B, M.A. Roxas Highway, CFZ,                   USA/Philippines
Business Park, Inc.                                                                 subsystem for companies involved in telecommunications, satellite        Philippines
                                                                                    and wireless communications.
Designs Apparel International, Inc.( Sub-lessee Industrial     (Garments        and To engage in manufacturing of garments.                           Bldg. 7507, Clark Freeport Zone, Philippines                     Philippines
of Apparel Tech Int'l., Inc.                    Sewing)
Dizon Agro-Industrial, Inc.                     Industrial (Agro)                    Orchard Project - the Lessee shall plant citrus tree (calamansi) and Ammo Dump area, near Clark Water Treatment                   Philippines
                                                                                     other fruit bearing trees. Before the fruit trees come to commercial Facilities and High Edge projects, CFZ,
                                                                                     production, short term crops maybe planted between the rows.         Philippines




                                                                                                              Page 39
                 ENTERPRISE                                TYPE OF PROJECT                                           PROJECTS                                                     ADDRESS                               Nationality

Du San Philippines Co. Ltd., Inc.                     Industrial (Electronics)         Conduct, and operate the business of manufacturing, processing, Bldg 7492 and 7471, CFZ Main Zone bounded                           Korea
                                                                                       exporting, buying and selling at wholesale: 1) Ceramic by J. Topacio and C.M. Recto Highway
                                                                                       capacitors/condensers and other similar parts and components of all
East Asia Fashion Apparel Inc., Sub-lessee of         Industrial     (Garments     and kinds and make for use in the electronics and telecommunications
                                                                                       Manufacturing of Assorted Apparel.                                    Bldg 7503 A. Bonifacio Avenue cor. J. Tinsay                Philippines
Nice Apparel Ltd. Co.                                 Sewing)                                                                                                Street, CFZ, Philippines
Easton Mfg & Fashion Corp., Sub-lessee of             Industrial     (Garments     and Import & Export, Manufacturing, sub-contracting all kinds of textiles Bldg 07-D, Berthaphil Compound, Jose Abad               China/Philippines
Berthaphil, Inc. (BOI registered as non-pioneer       Sewing)                          & garments products only.                                             Santos Ave., CFZ, Philippines
on Nov 2, 2005)
Ecozone      Plastic   Enterprise   Corporation,      Industrial (Other Manufacturing)   Plastic recycling plant engaged in the business of importing,             bldg 7285, bounded by Gagaban Street and              Philippines
Assignee of Solid Master Plastic Ent.                                                    exporting, and wholesale trading of plastic resins, metals, and other     C.M. Recto Highway, CFZ, Philippines
Corporation                                                                              related recyclable materials; Metals and other related recyclable
                                                                                         materials such as but not limited to, aluminum cans, tins, metal tube,
                                                                                         wires, metal straps, plastic bottles, etc., that are unavoidabley
                                                                                         incorporated in the imporation of plastic materials for recycling shall
                                                                                         not undergo the process of smelting and washing but merely for
                                                                                         segregation and sorting.
Everest Casting Manufacturing Phils., Inc.            Industrial (Other Manufacturing)   Production and manufacturing of marine hardware, bicycle and car          Bldg 7232 bounded by Gagaban St. and C.m.          Taiwan/Canada
                                                                                         parts and accessories, aluminum alloys, stainless steel for special       Recto Highway, CFZ, Philippines
                                                                                         purposes.
Everest Precision Casting Inc.                        Industrial (Other Manufacturing)   to engage in Investment Casting.                                     Panday Pira Avenue, Industrial Estate I, Clark         Philippines/Taiwan
                                                                                                                                                              Freeport Zone, Philippines
Feng Ying Garments, Inc., Sub-Lessee of Nice Industrial     (Garments              and   Garments manufacturing of assorted apparel especially ladies skirt, Bldg. 7503 (Portion only), A. Bonifacio cor. J.      Philippines/China/ British
Apparel Ltd.                                 Sewing)                                     blouses and pants                                                    Tinsay Street, CFZ, Philippines
Fuji Plastic Industry Phils. Inc.            Industrial (Electronics)                    to engage in manufacturing, assembly, and sale of plastic molding Ninoy Aquino Avenue, Clark Freeport Zone,                       Japan
                                                                                         products.                                                            Philippines
G&R ENTERPRISES INC. (New Sublease                    Industrial (Other Manufacturing)   Manufacture and export of garments particularly lingerie, brassiere  1,000 sq.m. floor area, Unit 11B Philexcel                 Philippines
Agreement with Philexcel Business Park Inc.)                                             and panties for export to Australia, New Zealand, Germany, Sweden Business Park Inc., Clark Freeport Zone,
                                                                                         and USA.                                                             Philippines.
Global Knitting Mill, Asia, Inc. ( New Sub-lease      Industrial                         Exclusively for the designing, manufacturing, knitting, embroidery,  1,020 sq. m. of Bldg. 01 located at Berthaphil II       Philippines/USA
Agreement with Berthaphil, Inc.)                                                         silk screening of sports socks, beanies, scarves, wristbands and     South, Bayanihan St., Clark Freeport Zone, Phils.
                                                                                         other wearing apparels for export
Global Sewing, Inc., Sub-lessee of Philexcel Industrial     (Garments        and         Manufacturing, exporting, importing at wholesale and retail such Bldg 11A, Philexcel Business Park, Inc., M.A.                  Philippines
Industrial Park, Inc.                        Sewing)                                     goods as garments and other related business activities.             Roxas Highway, CFZ, Philippines
Golden Cane Furniture Mfg. Corp.             Industrial (Furniture & Crafts)             To engage in : 1) Manufacturing related activities 2) Dry storage 3) Bldg 2810, Mitchell Highway, Clark Freeport,               Philippines
                                                                                         Office space, showroom 4) Office cafeteria.                          Philippines
Golden Stone Garments, Inc. ( Direct Lease Industrial                (Garments     and   Manufacture of wearing apparel and garments for wholesale nad along Lilly Hill Road, Gil Puyat Avenue, CFZ                  Philippines/Taiwan
Agreement)                                 Sewing)                                       retail trading, ninety percent (90%) of which is for export and ten
                                                                                         percent (10%) for the local market.
Great Fortune promise Company, Sub-lessee of Industrial (Other Manufacturing)            Trading and manufacturing of candles for export to Asian countries. portion of bldg 7368 A. Soriano Sr. St., CFZ,                 Japan
Victoria Foods Company                                                                                                                                        Philippines
Great Sun Optoelectronics Corporation (with Industrial                                   Establishment of a facility for the design and manufacture of TFT Lot 8 & 9, bounded by Panday Pira Avenue and                    Korea
Amendment to the Lease Agreement)                                                        LCD monitors and television sets                                     Gil Puyat Highway, CFZ, Phls.
H3 Technology Phils., Inc., Sub-lessee of Industrial (Electronics)                       Development, production and assembly of electronic components for Jose Abad Santos Avenue, CFZ, Philippines                     Philippines
Berthaphil, Inc.                                                                         the semi conductor industry including the provision for consultancy
                                                                                         services related thereto.
Hansa Toys Int'l Inc.                                 Industrial     (Garments     and   Manufacturing of toys for export and other related activities.       105th Place, IE1, Clark Freeport Zone, Phils.               Australia
                                                      Sewing)
HDN Custom Works, Inc.              (Sub-lessee    of Industrial                         Exclusively for restoration and building of classic cars & Unit 2B2, Philexcel Business Park, M. A. Roxas                 Philippines/Norweigan
Philexcel Business Park)                                                                 motorcycles, buying and selling including importation of Highway, Clark Freeport Zone, Philippines
                                                                                         automobiles, parts, engines and materials to be use for the
                                                                                         assembly and 100% export the finished vehicle/motorcycles/product
                                                                                         abroad
House of Gold Jewelry manufacturing, Inc.             Industrial (Other Manufacturing)   Manufacturing of jewelries for export. Maximum 30% of their finished C.M. Recto Highway, CFZ, Philippines                         Korea
                                                                                         product may be allowed for sale for local market.




                                                                                                                  Page 39
                   ENTERPRISE                        TYPE OF PROJECT                                            PROJECTS                                                         ADDRESS                           Nationality

Hydrophonic Agriculture Development CorporationIndustrial (Agro)                  to engage in the actual propagation of planting materials of superior       located Along Gil Puyat Avenue near Mablacat       Philippines/Korea
                                                                                  variety of fruits, vegetable and other horticultural products: Several      Gate, CFZ, Philippines
                                                                                  green houses, laboratory, training room/classroom and display
                                                                                  room.
Ideal Fashion Inc.                              Industrial     (Garments      and Production and manufacture of wearing apparel and similar garment           Lily Hill Road, Gil Puyat Avenue, CFZ,             Philippines/Taiwan
                                                Sewing)                           products for export.                                                        Philippines
Igri (Clark) Industries, Inc.                   Industrial (Other Manufacturing) To engage in the manufacturing and assembly of watercraft (Jetski),          Road U Extension IE 1, Phase 2, Clark Freeport        Philippines
                                                                                  All Terrain Vehicles (ATV), golf and industrial vehicles, agribultural      Zone, Philippines
                                                                                  and construction equipment purposes.
INTERNATIONAL METALS MANUFACTURING              Industrial (Other Manufacturing) Manufacturing of stainless steel exhaust systems and stainless steel         1,032 sq.m. Bldg. 13, Berthaphil Inc., Clark          Philippines
PHILS LLC, INC. (New Sublease Agreement with                                      tube side steps for trucks and SUV's for export only.                       Freeport Zone, Philippines.
Berthaphil Inc.)
JET STAR LAB PHILIPPINES, INC. (New Sublease Industrial (Other Manufacturing)      Manufactuing of dental porcelain, jacket crowns and related                198 sq.m., Unit 22H-I, Philexcel Buisiness Park,      Philippines
Agreement with Berthaphil, Inc.)                                                   accessories for export.                                                    M.A. Roxas Highway, Clark Freeport Zone,
                                                                                                                                                              Philippines
JLM1X Limited Company, Sub-lessee of Industrial (Furniture and Crafts)             Wood works only.                                                           Unit 22F, M.A. Roxas Highway, CFZ, Philippines        Philippines
Philexcel Business Park, Inc.
Keygold Manufacturing, Inc., Sub-lessee of Industrial     (Garments       and      Manufacture and export of garments, undergarments and other                Panday Pira Avenue Extension, IE 1, CFZ,                British
Shunta International, Inc.                 Sewing)                                 wearing apparel.                                                           Philippines
Kiku Imports Co. Phils., Inc.,             Industrial (Furniture and Crafts)       Manufacturing and restoration of antique furniture and fixtures such       Bldg 7469, bounded by C.M. Recto Highway and       Philippines/Japan
                                                                                   as but not limited to tables, chairs, cabinets for export to other         Tapacio Street, CFZ, Philippines
                                                                                   countries.
Kinetic Global Concepts, Inc.                   Industrial (Other Manufacturing)   1) Conduct of Post Delivery Inspection (PDI) of brand new vehicles         2512C along Ninoy Aquino Avenue, CFZ,                 Philippines
                                                                                   for transshipment from the Asian Region to be exported to                  Philippines
                                                                                   Hongkong, China; 2) manufacture, modification and sale of
                                                                                   recreational vehicles such as, but not limited to, golf carts, and other
                                                                                   similar vehicles; health products such as, but not limited to, air
                                                                                   purifiers; and racing equipment and paraphernalia; 3) Modification,
                                                                                   bullet proofing, customizing, and sales of motor vehicles and
                                                                                   motorcycles; 4) Trading, warehousing, transshipping, import and
                                                                                   export of tools, parts and accessories of motor vehicles, motorcycles
                                                                                   and recreational vehicles; energy products; oil and lubricants; pain,
                                                                                   dyes and chemicals; aviation related products; purifiers; electronics
                                                                                   and electronics parts/accessories; entertainment equipment and
                                                                                   materials; and other general merchandise such as, but not limited to,
                                                                                   equipment, machinery, appliances, furniture and fixtures, food and
                                                                                   non-food agricultural products, health care products and such other
                                                                                   similar items except rice, "maling", wine, liquor and tobacco. It shall
                                                                                   be agreed and understood that at least 70% of the Lessee's gross
                                                                                   revenues from activities mentioned under Item 4 of Article I shall be
                                                                                   sourced from exports and that thirty-percent (30%) should be
Kita Corporation                                Industrial (Electronics)           sourced from local or domestic sales.
                                                                                   1) Manufacturing and assembly of consumer electronic products e.g.         Bldg No. 7170 along Elmore St. and Street E-1,        Philippines
                                                                                   T.V., Radio/Recorder, etc.; 2) Other related activities; and 3)            Clark Freeport Zone, Philippines
                                                                                   Operation of plastic injection factory producing cabinets for TV sets
                                                                                   and auidio cassette and other related services.

Kita Corporation, Assignee of Response, Inc.    Industrial (Electronics)           1) General Warehousing, buying and selling of electronic parts, Maratt Highway bound on the South by Elmore                      Philippines
                                                                                   component and finished products with minor assembly and Street and by Street U in the North, Clark
                                                                                   operation and other related actitities; and 2) Operation of an Freeport Zone, Philippines
                                                                                   Expandable Poly Styrene (EPS) molding factory to produce styropor
                                                                                   that will be used for packaging of video and audio products.




                                                                                                            Page 39
                 ENTERPRISE                             TYPE OF PROJECT                                           PROJECTS                                                      ADDRESS                                Nationality

Kolin-Syntax (Phils.) Export, Inc., Sub-lessee of Industrial (Electronics)            manufacturing and assembling goods such as: television sets, portion of bldg 7174 and portion of bldg 7178, Gil                     Taiwan
Kita Corporation                                                                      audio/video equipment, air conditioners , and other electronic Puyat Ave., CFZ, Philippines
                                                                                      equipment, product, apparatus or paraphernalia, and or other
                                                                                      household appliances and/or other goods or products, and to trade
                                                                                      the same on wholesale basis including import/export thereof.

Komiya Philippines, Inc.                           Industrial (Other Manufacturing)   Jewelry manufacturing for export.                                  Dau Avenue, IE1, Clark Freeport Zone,                            Japan
                                                                                                                                                         Philippines
Kosmic Clark Medical Company, Inc., Sub-lessee Industrial (Other Manufacturing)       to use the sub-leased property: As showroom, operation of medical located at Food Plaza Building, Metro Clark              Japan/USA /Philippines
of MCIDC                                                                              equipment, marketing, sales and rental, supply of parts of medical Center, Pura Kalaw Ave., corner R. Magsaysay
                                                                                      equipment such as CT scanner, MIR X-ray, Ultrasound, Imaging Ave., CFZ, Philippines
                                                                                      Cameras and other related medical equipmnet only.
                                                                                      Warehousing, re-assembly, refurbishment, installation, repair,
                                                                                      maintenance and testing of medical equipment shall be done
                                                                                      exclusively at tis expansion site at Philexcel Business Park.

Kyowa Sonic Phils. Ltd. Inc.                       Industrial (Electronics)           a) Manufacture of CD-ROM and video-Cassette Cleaner Kits for along Bayanihan Street, CFZ, Philippines                               Japan
                                                                                      export and constructive exports; b) Importation and trading of brand
                                                                                      new and/or surplus/second hand finished hospital, restaurant and
                                                                                      hotel equipment only.
Kyungil Tech Corp., Sub-lessee of Philexcel Industrial (Other Manufacturing)          Manufacturing of electromagnetic strips (EM) and de/reactivator unit Unit 21F, M.A. Roxas Highway, CFZ, Philippines           Philippines/Korea
Business Park, Inc.                                                                   for libraries and related business activities only.
L & K Industries Philippines, Inc.          ( Sub- Industrial (Electronics)           Manufacturing, importation and trading of electronic parts.          Industrial Estate 5 (IE5) Roxas Highway, Clark                 Japan
lessee of Clark Premier Industrial Park) ****                                                                                                              Freeport Zone, Philippines


L & T Int'l Group Philippines, Inc.                Industrial     (Garments        and Garments/apparel manufacturing , washing, warehousing for export        Wagner Avenue, Bissel Lane and 104th Place,              Philippines
                                                   Sewing)                             and other related activities.                                           IE1, Clark Freeport Zone, Philippines
Leather Asia, Inc. (formerly Manel's)              Industrial     (Garments        and Operate, conduct and maintain the business of manufacturing,            Bong Highway, IE1 , Clark Freeport Zone,                 Philippines
                                                   Sewing)                             importing, exporting, buying, selling or otherwise dealing in, at       Philippines
                                                                                       wholesale and retail such goods as: leathergoods, handbags,
                                                                                       wallets, belts, etc.
Lewis & Sanders-Asia, Inc. (New Sub-lease Industrial                                   Exclusively to engage in repair, overhaul, manufacture and              1,035 sq.m. , Philexcel Business Park, M. A.               British
Agreement with Philexcel Business Park)                                                distribution of products for the aerospace industry for 100% export     Roxas Highway, Clark Freeport Zone, Phils.
                                                                                       only. Product lines inlcude all boeing aircraft and engines such as :
                                                                                       CF6-80, CFM56, CF34, PT6, PW2000, V2500, JT3, Jt8, JT 9, and Jt
                                                                                       12
Liberty Interiors International, Inc., Sub-lessee of Industrial (Other Manufacturing) Manufacturing of furniture and associated warehousing purposes           Unit 1C, M.A. Roxas Highway, CFZ, Philippines   Philippines/British/ Australia
Philexcel Industrial Park, Inc.                                                        only.
Linaheim Properties, Inc.                          Industrial (Other Manufacturing)   To engage in: 1) Manufacturing/assembly of semiconductors, Bounded by Mitchell Highway, Old Coral St.,                            Philippines
                                                                                      computer and parts, electronics and related activities; 2) Other high CFZ, Philippines
                                                                                      technology but light industries; 3) Office space and showrooms; 4)
                                                                                      Office/factory warehouses, cafeteria and other related activities.

Lucky Star Apparel Corporation (Assignee of Industrial            (Garments      and To engage in the business of manufacturing of various types of Bldg. 7445 C.M. Recto Highway, CSEZ, Clark British/Canada/ Philippines
Dea-Robsens, Inc.)                          Sewing)                                  garments and to trade the same on wholesale basis.             Freeport Zone, Philippines
Magic Line Corporation, Sub-lessee of Mercury Industrial (Other Manufacturing)        Manufacture of fiber glass mannequins.                             Gil Puyat Avenue, Cor. Twinning Road                      Philippines/French
Crystal Technologies, Inc.                                                                                                                               Extension, CFZ, Philippines
Mahogany Door, Inc.                           Industrial (Other Manufacturing)        The ground floor will be used on an interim basis to manufacture along G. Puyat Ave. and C.M. Recto Highway,                   Philippines/USA
                                                                                      hand made entry doors (interior & exterior) using mahogany lumber CFZ, Philippines
                                                                                      for 100% export to the U.S. and for Commercial/Office space use on
                                                                                      the 2nd and 3rd floor Bldg. 5210.

Mark Sensing Philippines, Inc. - Sub-lessee of Industrial (Other Manufacturing)       Production of thermal and other paper products and other related M. A. Roxas Highway, CFZ, Philippines                       Australia/Philippines
Philexcel Industrial Park, Inc.                                                       business activities.




                                                                                                               Page 39
                 ENTERPRISE                              TYPE OF PROJECT                                              PROJECTS                                                    ADDRESS                               Nationality

Marlin Metal Crafters Enterprises, Sub-lessee of Industrial (Other Manufacturing)         Fabrication of sheet metal components; import and export of aircraft, Unit 9, M.A. Roxas Highway, CFZ, Philippines             Philippines
Philexcel Business Park, Inc.                                                             aircraft parts, aircraft accessories, aircraft raw materials, aircraft kits
                                                                                          and shop tooling/machinery; motor vehcile kits; motor vehicle parts,
                                                                                          motor vehicle accessoreis; motor vehicle raw materials; and shop
                                                                                          tooling, tooling/machinery for export only.

Mecca Mfg. Phils. Inc.                              Industrial (Furniture & Crafts)       To engage in: 1) Furniture manufacturing and export, warehousing, Grant Street at Furniture Village (IE2), Clark               Philippines
                                                                                          remodeling, finishing works and 2) Other related activities.      Freeport Zone, Philippines

Meisei Electric (Phils.) Corporation, Sub-lessee Industrial (Electronics)                 Subcontracting in the manufacture of electronic components such as Bldg 21, Berthaphil compound, Jose Abad                        Japan
of Berthaphil, Inc.                                                                       stiffeners, insulation materials and its related works on outsourcing Santos Avenue, CFZ, Philippines
                                                                                          basis selling or otherwise dealing in, at wholesale/retail the finished
                                                                                          product for export (constructive and direct)

Micro Hi-Fi Solutions Inc., Sub-lessee of Kita Industrial (Electronics)                   Manufacturing of goods such as headsets, headphones, speakers Bldg 7120 Gil Puyat, CFZ, Philippines                      Japan/Korea/Philippines
Corporation                                                                               and other related electrical components and to trade the same on
                                                                                          wholesale/retail basis.

Milko Ice Cream Specialties Corporation, Industrial (Other Manufacturing)                 Production of high-quality, low priced ice cream products for C.M. Recto Highway, CFZ, Philippines                             Philippines
Assignee of Milko Ice Cream                                                               distribution in various provincial areas.
MULTI-TEK FASTENERS INCORPORATED (New    Industrial (Other Manufacturing)                 To engage in the manufacture, sale, and or export of different sizes, 15,043 sq.m. Open space with 10,517 Floor area             Taiwan
Lease Agreement)                                                                          make and types of screws, plugs, sockets, pipes, hubs, fastners.      (sq.m.) of first & second floor, along Gil Puyat
                                                                                                                                                                Ave., Clark Freeport Zone, Philippines
Nanox Philippines, Inc., Sub-lessee of Clark Industrial (Electronics)                     Assembly, production and trading of electronic parts, such as, but Phase I Lot C-1, Clark Premiere Industrial Park ,              Japan
Premiere Industrial Park, Inc.                                                            not limited to, Liquid Crystal Display (LCD) panels and modules as M.A. Roxas Highway, Clark Freeport Zone,
                                                                                          well as production of small, thin and lightweight Chip on Glass Philippines
                                                                                          (COG) modules and fiber optic lenses and electro-optical devices.

Netemala Limited Corporation (Sub-lessee of Industrial                                    Exclusively for the manufacture, import and export of honey and Unit 17F, Philexcel Business Park, M. A. Roxas              Philippines/China
Philexcel Business Park)                                                                  other related products to be exported to the United States      Highway, Clark Freeport Zone, Philippines

Nice Apparel, Ltd. Co.                              Industrial     (Garments          and Garment manufacturing for export and other related activities.       Wagner Ave. cor. Bissell Lane, IE1, Clark              Philippines/Hong
                                                    Sewing)                                                                                                    Freeport Zone, Philippines                               Kong/Britain


O & G Leather Manufacturing Corporation, Sub-       Industrial     (Garments        and Manufacture and production of leather items such as jackets, pants,    Units 1A1, M.A. Roxas Highway, CSEZ, Clark              Philippines/Italy
Lessee of Philexcel Business Park, Inc. (Bldg       Sewing)                             bags and other similar products to be exported to Italy and other      Freeport Zone, Philippines
4A1)                                                                                    countries.
O.E.M. International Trading, Inc. (Sub-Lessee of   Industrial (Furniture & Crafts)     Manufacturing of furniture and lighting fixtures and other related     M.A Roxas Highway, CFZ, Philippines                       Philippines
Philexcel Industrial Park, Inc.)                                                        business activities.
Oak Leather Clark, Inc.                             Industrial     (Garments        and Garments and leather gloves manufacturing for export                   CFZ, Philippines                                       Philppines /Japan
                                                    Sewing)
Orchids World International, Inc.                   Industrial (Other Manufacturing) To engage in propagation and distribution of orchid plants, planting      Sacobia Area, CFZ, Philippines                            Philippines
                                                                                        of ornamental and fruit bearing trees, ornamental plants and sale of
                                                                                        plant accessories.
P & C International Co., Ltd. ( New Lease           Industrial                          Exclusively to set up an assembly and manufacturing facility for       8,520 sq.m., open space & 200 sq. m. floor area              Korea
Agreement)                                                                              medical equipment
                                                                                                                                                               and Bldg. N2094, bounded by Bayanihan and J.
                                                                                                                                                               P. Laurel Ave., Clark Freeport Zone, Phils.
Pacific Carpet Manufacturing Corporaiton, Sub- Industrial (Other Manufacturing)           Manufacture of hand-tufted and machine-tufted carpet, rugs and       Berthaphil compaound, Jsoe Abad Santos                    Philippines
lessee of Berthaphil Business Park, Inc.                                                  carpet yarn spinning purposes.                                       Avenue, CFZ, Philippines
Peninsula Fashion Int'l. Corp.                 Industrial     (Garments      and          Manufacture of garments, toys and clothing apparel, accessoreis,     Bldg 7462 Korean Industrial Park, Bong and                 British HK
                                               Sewing)                                    shoes and other related items.                                       Dyess Highway, Industrial Estate 1, Clark
                                                                                                                                                               Freeport Zone, Philippines
Pharmequin, Inc., Sub-lessee of Berthaphil, Inc.    Industrial (Other Manufacturing)      Trading office for Pharmaceutical Human/Veterinary Products only.    Bldg No. 17B, Berthaphil Compound, Jose Abad          Ireland/Philippines
                                                                                                                                                               Santos Avenue, CFZ, Philippines




                                                                                                                   Page 39
                 ENTERPRISE                            TYPE OF PROJECT                                           PROJECTS                                                        ADDRESS                              Nationality

Phil. Global Optic Media, Inc., Sub-lessee of Industrial (Other Manufacturing)       Manufacturing, production, duplication importing, exporting, buying,      Bldg. 15, Jose Abad Santos Avenue, CFZ,                 Philippines
Berthaphil, Inc.                                                                     selling or otherwise dealing in, at wholesale and retail such goods       Philippines
                                                                                     as DVD, VCD and other video and audio formats or any other
                                                                                     related products.
Philexcel Business Park, Inc. (Formerly Phil- Industrial (Other Manufacturing)       To engage in (1) Medium and lighjt manufacturing ; (2) Warehousing        Mitchell Highway, Industrial Estate 2, Clark       British Virgin Islands
Excel Industrial Park, Inc.)                                                         and distribution; (3) Business offices; (4) Administration and other      Freeport Zone, Philippines
Philippine Shin-ei, Inc., Sub-lessee of Clark Industrial (Electronics)               support facilities; (5) Facilities for eating, medical and recreational
                                                                                     Assembly and production of slim CD-ROM deck and molding press             Phase II, lot 1-A, M.A. Roxas Highway, CFZ,       Korea/Japan/Philippines
Premiere Industrial Park, Inc.                                                       assembly.                                                                 Philippines

PHILIPPINE SUNDT CONSTRUCTION &            Industrial (Other Manufacturing)          Office, storage, general construction and equipment rental with M.A. Roxas Highway, Clark Freeport Zone,
DEVELOPMENT CORP. (Sub-lesee of Philexcel)                                           fabrication of metal and wood materials and other related activities. Philippines
                                                                                                                                                                                                                       Philippines
Platinum Fox, Inc.                                Industrial (Other Manufacturing)   Manufacturing of adhesive tapes for constructive exports                  Dau Avenue, Clark Freeport Zone, Philippines            Philippines

Poongsan Microtec Phils., Inc. (Formerly Industrial (Electronics)                    Manufacturing of lead frames and other semi-conductor products.           E. Quirino Street, CFZ, Philippines                        Korea
Poongsan Precision Phils., Inc. (Sub-lessee of
Lihaheim Properties, Inc.)
Prudence Development and Management Industrial (Other Manufacturing)                 Production and storage of tobacco products for 100% export                Unit 4B-D,     M.A.    Roxas    Highway,   CFZ,    British Virgin Islands/
Corporation - Sub lessee of Philexcel Industrial                                                                                                               Philippines                                              Philippines
Park, Inc.
R.A.C. Global Ventures Asia Inc., Sub-lessee of Industrial (Other Manufacturing)     Engage in, operate, conduct and maintain the business of importing 22 H-I, M.A. Roxas Highway, CFZ, Philippines                       USA
Philexcel Business Park, Inc.                                                        bulk computers and electronics which will be subject to testing and
                                                                                     software updates before exporting to India, Cambodia, Thailand,
                                                                                     Vietnam and some for local sale only.

R.D. Policarpio & Co., Inc.                       Service Oriented                   Construction and operation of a cement baching plant.           located along B. Cabangbang Street (formerly A.                   Philippines
                                                                                                                                                     Camelo Street or Road J), CFZ
RAPAT Industries Phil. Inc., Sub-lessee of Industrial (Other Manufacturing) Manufacturing, distribution, import & export of industrial and Bldg. 19, Philexcel Business Park, M.A. Roxas                                   USA
Philexcel Business Park, Inc.                                                   agricultural equipment including materials handling and metal Highway, CFZ, Philippines
                                                                                fabrication. Sub-lessee shall export at least 70% of their finished
                                                                                product in order to be allowed registration and renewal as a CSEZ
                                                                                enterprise.
Robert Wallace Antiques, Inc., Sub-lessee of Industrial (Furniture and Crafts) Manufacture and restoration of antique furniture and fixtures such as Bldg 7119, Gil Puyat CFZ, Philippines                              Australia
Kita Corp.                                                                      but not limited to tables, chairs and cabinets for export to other
                                                                                countries and importation of all kinds/types of vintage cars, jeeps,
                                                                                pick-ups, etc. and their parts and accessories for refurbishment,
                                                                                restoration, and repair to be exported to Australia and other
                                                                                countries.
Sasayama Leather Manufacturing, Inc., Sub- Industrial       (Garments       and Manufacture of leather goods such as gloves, utility bags, tool bags Unit 22A-E, M.A. Roxas, Highway, CFZ,
lessee of Philexcel Business Park, Inc.      Sewing)                            for export to Japan, China and other countries.                      Philippines                                                          Japan
Savon Printing Corp.                         Industrial (Other Manufacturing) Manufacturing and printing of plastic bags, paper, cardboard and Hongkong Street, Clark Freeport Zone,                                   Philippines
                                                                                bags, and boxes and other products related to printing for export Philippines
Semirecycling Co., Inc., (Bldg 7468)                                            and local market.
                                             Industrial (Other Manufacturing) To engage in recycling of scrap PC's, mother board, electronic Bldg 7468, CFZ Main Zone bounded by C.M.                               Korea/Philippines
                                                                                items, IT, Telecom and other equipment or parts with ferrous and Recto Highway, J Topacio St. and M.L. Quezon
                                                                                non-ferrous metal content, IC trays, etc. and to trade the same on Ave., CFZ, Philippines
                                                                                wholesale basis 70% of which is for Export.

SG ECO Industries, Inc. Sub-lessee of Philexcel   Industrial                       exclusively for the manufacture of solar skylights, solar lightings,        Unit 15A, Philexcel Business Park, Inc. CFZ,       Philippines/Australia
Business Park, Inc.                                                                fixtures, components and acessories for export.                             Philippines
Smart Shirts (Phils.), Inc. (Formerly: J.G.       Industrial    (Garments      and Production and storage of garments products and other related               M.A. Roxas Highway, Clark Freeport Zone,             Philippines/China
Garments (Phils) - Sub-lessee of Philexcel        Sewing)                          business activities only.                                                   Philippines
Business Park, Inc.
Smart Shirts Ltd., Sub-lessee of Philexcel        Industrial    (Garments       and to use the sub-leased proerty for the establishment of its regional Bldg 25A, M.A. Roxas Highway, CFZ, Philippines              Philippines/China
Business Park, Inc.                               Sewing)                           operating headquarters in the Philippines and related business
                                                                                    activities only.
Smartdesign, Inc.,    Sub-lessee   of   Philexcel Industrial (Other Manufacturing) Manufacturing of custom design resin products for export             Unit 16 A-B, M.A. Roxas Highway, CFZ,                       Philippines/Dutch
Business Park, Inc.                                                                                                                                     Philippines




                                                                                                              Page 39
                   ENTERPRISE                             TYPE OF PROJECT                                            PROJECTS                                                    ADDRESS                             Nationality

SMK Electronics (Phils.) Corp., Sub-lessee of Industrial (Electronics)                  1) Manufacture, asembly and sale (export & domestic) of touch M.A Roxas Highway, CFZ, Philippines                               Japan
Clark Premiere Industrial Park, Inc.                                                    panel glass display, jack, pin-jack, keyboard, remote control and
                                                                                        other related products; 2) Importation and trading of products not
                                                                                        actually manufactured by SMK Electronics (Phils.), subject, however,
                                                                                        to the following requirements: a) products to be imported and traded
                                                                                        are considered as raw materials of SMK customers; b) submission of
                                                                                        specific listing of products and their specifications, sources or places
                                                                                        of origin; c) payment to CDC of one percent (1%) of Gross Sales of
                                                                                        imported and traded products; d) Payment of duties for imported
                                                                                        products traded to the domestic market and/or local companies that
                                                                                        do not enjoy tax incentives/exemptions.

Sonimetrix, Inc.                                    Industrial (Other Manufacturing)    Manufacturing of electrical audio transducer, related products and      Bldg 7168, bounded by C.M. Recto Highway,              Australia
                                                                                        related activities.                                                     CFZ, Philippines
Street Home Product, Inc., Sub-lessee of Igri Industrial (Other Manufacturing)          1) Manufacturing and trading of furniture, frames and home decors       Bldg N7110 Area-1 located along Road U           Australia/ Philippines
(Clark) Industries, Inc.                                                                for export; 2) Buying and trading of food products such as              Extension, IE1, Phase 2, CFZ, Philippines
                                                                                        candies/bubblegum, cookies/biscuits, canned goods, snack foods,
                                                                                        soy sauce, vinegar, tomato sauce, softdrinks, juices, butter and non-
                                                                                        food products such as kitchen ware, sanitary ware, plastic ware,
                                                                                        RTW, clay products, electronic products, leather products and cable
                                                                                        wires for export.
Sumidenso     Automotive        Technologies   Asia Industrial (Electronics)                                                                              Jose Abad Santos and Bayanihan Strets, Clark                  Japan
                                                                                        Establishment and operation of technical center which designs
Corporation                                                                                                                                               Freeport Zone, Philippines
                                                                                        automotive wiring harness and other related automotive components
Tanitec International Corporation, Sub-lessee of Industrial (Electronics)               Manufacturing and storage of specialized packaging materials for Bldg 10C, 8C, 21C, 21D, M.A. Roxas Highway,                    Japan
Philexcel Business Park, Inc.                                                                                                                             CFZ, Philippines
                                                                                        plastic molding purposes and related business activities only.
Technowood      Manufacturing       Corporation Industrial (Other Manufacturing)        Manufacture and export of Disposable Medical Devices such as, but located along Jose Abad Santos and Bayanihan                  Japan
(Formerly Tonokura Ika Kogyo Corp.)                                                     not limited to, Angiographic Catheters and Cardiosurgery devices Streets, Clark Freeport Zone, Philippines
                                                                                        and other relative products.

TG Technology Phils. Corporation, Sub-lessee of Industrial (Other Manufacturing)        Engage in the business of manufacturing disposable surgery set,   CFZ, Philippines                                              Japan
Philexcel Business Park, Inc.                                                           medical accessories for medical equipment and apparatus and other
                                                                                        related goods of similar nature for export.

TGA Foods Corporation                               Industrial (Other Manufacturing)    to engage in Fish fillet processing plant and distribution facility.    C.M. Recto Avenue and Blue Diamond in front of        Philippines
                                                                                                                                                                Kita Corporation, CSEZ, Clark Freeport,
                                                                                                                                                                Philippines
VEII Export, Inc., Sub-lessee of Victoria Exports Industrial (Furniture & Crafts)       Marketing arm of victoria Export and Import, Inc. for export to portion of Victoria Export and Import showroom,               Philippines
& Imports, Inc.                                                                         international buyers.                                           Bayanihan Street, Furniture Village, CFZ,
                                                                                                                                                        Philippines

Victoria Export & Import Inc.                       Industrial (Furniture and Crafts)   Manufacturing of furniture and other related activities.             Grant Street, Furniture Village, IE1, Clark              Philippines
                                                                                                                                                             Freeport, Philippines
Victoria Foods Company (Assignee of Lifeline Industrial (Other Manufacturing)           Labeling, repackaging, bottling and wrehousing of preserved food Simon Street cor. Street L-2, IE1, CFZ,                      Philippines
Medical Supply Corporation)                                                             products like nata de coco, macapuno, kaong, ube, garbansos, Philippines
                                                                                        mixed fruits with beans, etc. as well as bee products such as honey,
                                                                                        soap, candles, etc. on various bottled consumer sizes such as 340
                                                                                        gms., 500 gms., pint size and quart size all in a bottled glass
                                                                                        containers
Yok Impex Philippines, Inc.                         Industrial (Other Manufacturing)    Establishment of a Textiles and Garments Recycling Plant for Feati Street corner Street D-17, IE 1, Clark                     Philippines
                                                                                        sorting and 100% re-export of wearable clothing, wipers and fibers Freeport Zone, Philippines
                                                                                        using mixed rags/used clothing as raw materials.




                                                                                                                  Page 39
                ENTERPRISE                            TYPE OF PROJECT                                          PROJECTS                                                      ADDRESS                                Nationality

Yokohama Tire Phils., Inc.                       Industrial (Other Manufacturing)   To produce, process, manufacture, purchase, import, export or Along IE 5, Clark Freeport Zone, Philippines                         Japan
                                                                                    otherwise acquire, own, sell, dispose of and generally deal in, and to
                                                                                    render any service in respect of, automobile, truck and aircraft tires,
                                                                                    tubes and other articles produced in whole or in part from rubber,
                                                                                    both natural and synthetic, compounds thereof, substitutes therefor,
                                                                                    substances having properties or uses similar thereto; and to
                                                                                    manufacture, import, export and sell tire manufacturing equipment
                                                                                    and tools, and all other rubber goods and automotive and aircraft
                                                                                    parts and accessories.

YUMI Clark Agro, Inc., Assignee of Hudrophonic Industrial (Agro)                    Actual propagation of planting materials of superior variety of fruits, Gil Puyat Avenue near Mabalacat Gate, CFZ,           Philippines/Korea
Agriculture Development Corporaiton.                                                vegetable inside the green houses and other horticultural products: Philippines
                                                                                    several green houses for the demonstration farm, laboratory,
                                                                                    training room/classroom and trading of planting materials and
                                                                                    modern agricultural equipment such as agricultural tractors,
                                                                                    irrigation system, greenhouses and others. Seventy percent (70%)
                                                                                    of what is imported or even sourced from local sources must be
                                                                                    exported. The 70%-30% ratio should be based on volume of goods
                                                                                    imported or bought locally and not on total business.


Information Technology
Agatsuma Philippines, Inc. (New Sub-lease Information Technology Related            Exclusively for the manufacturing & exporting of semi-conductor 1,032 sq. m., Bldg. 21, Berthaphil Compound!,                      Japan
Agreement with Berthaphil, Inc.)                                                    devices and other electronic components                         Jose Abad Santos Avenue, Clark Freeport Zone,
                                                                                                                                                    Philippines


British Grand Vision International Co., Inc., Sub- Information Technology Related   Information Technology (IT) related activities such as the operation E. Andrew St., CFZ, Philippines                      Philippines/China/Canada
lessee of Transglobal Airways Corporation                                           and maintenance of internet data centers, internet services such as
                                                                                    but not limited to providing animated, simulated and interactive
                                                                                    internet gaming services exclusively for regional and global market
                                                                                    and co-location service, development of computer hardware and
                                                                                    software solutions for export such as but not limited to the
                                                                                    processing and/or storage of voice, data, audio, video, music,
                                                                                    electronic games and all kinds of information and knowledge
                                                                                    through the use of computer technologies, internet broadband or
                                                                                    media presently available or to be subsequently made available
                                                                                    through technical advances in the future.

British Grand Vision International Co., Inc., Sub- Information Technology Related   Information Technology (IT) related activities such as the operation   Bldg N7269, CFZ, Philippines                       Philippines/China/Canada
lessee of Transglobal Airways Corporation (CIAC                                     and maintenance of internet data centers, internet services such as
Area)                                                                               providing animated, simulated and interactive internet gaming
                                                                                    services exlusively for regional, global market and co-location
                                                                                    service.
CCE Solutions-Telemarketing Service (New Sub- Information Technology                Exclusively to engage in, conduct, operate, and carry on the           66 sq.m. of Unit 2A3-7, Philexcel Business Park,         Philippines
lease Agreement with Philexcel Business Park)                                       operation of an in-bound and out-bound call center and                 Inc. M. A. Roxas Highway, Clark Freeport Zone,
                                                                                    telemarketing services                                                 Phils.
Cekor Technologies Philippines, Inc., Sub-lessee Information Technology Related     Provide services for and operate as a call center consulting           Room 12 and 14, BC1, M.A. Roxas Highway,               Philippines/USA
of Philexcel Business Park, Inc.                                                    company offering array of services to be used in setting up a call     CFZ, Philippines
                                                                                    center business here in the Philippines, such as designing &
                                                                                    implementing strategic cost efficient solutions that work in today's
                                                                                    most intircate call center environment, providing advanced
                                                                                    equipment, personnel productivity tools and also involves in
                                                                                    developing software custom design to cater each needs of clients.




                                                                                                            Page 39
                ENTERPRISE                            TYPE OF PROJECT                                            PROJECTS                                                      ADDRESS                          Nationality

CFZ Semitool, Inc. (New Sub-lease Agreement Information Technology                 Exclusively to engage in the service and repair of Semitool Inc.'s 500 sq. m. Clark Center 2, Berthaphil Compound               USA
with Berthaphil, Inc.)                                                             semiconductor equipment at the Texas Instruments Plant in Clark III, Jose Abad Santos Avenue, Clark Freeport
                                                                                   and fabrication plant for other customers in the Clark Freeport Zone. Zone, Philippines
                                                                                   CFZ Semitool, Inc. will sell, build and install the tools/equipment at
                                                                                   Clark Freeport Zone customer's sites and will support them during
                                                                                   their warranty period.

Clark Data Center, Inc.(Expansion)              Information Technology Related     Temporary storage facility.                                              Bldg 7365,    A.   Soriano   Sr.   Street,   CFZ,   Philippines
                                                                                                                                                            Philippines


Clark Data Center, Inc.(formerly named PDSI) Information Technology Related        General electronic data processing and computer services only.      Bldg 7374, Along Maratt Highway, Clark Freeport          Philippines
(Bldg 7374)                                                                                                                                            Zone, Philippines
Clark-Subic   Marketing     (New      Sub-lease Information Technology Related     Exclusively for the development and operation of a Web Portal to 72 sq. m. stall no. 6,Lillyhill Plaza, C. M. Recto          Philippines
Agreement with Land Bank of the Philippines)                                       provide marketing services exclusively for Clark and Subic locators Highway, Clark Freeport Zone, Philippines
                                                                                   engaged in hotels, restaurants, leisure parks and other tourism
                                                                                   related businesses.
CHUNG RAM INTERNATIONAL LANGUAGE                Information Technology Related     Exclusively as an On-line English language tutorial facility for    365 sq. m. Bldg. 2515 Philippine Cyber Techno              Korea
CENTER, INC. (New Sublease Agreement                                               Korean students.                                                    Park, Clark Freeport Zone, Pampanga
Infinno, Inc.)
Comclark Network and Technology Corp.           Information Technology Related     1) Cable Television Network and Information Technology Solutions;        Manuel A. Roxas Highway, Clark Freeport Zone,       Philippines
                                                                                   2) Office Depot; 3) Business Center; 4) Management Consultancy;          Philippines
                                                                                   5) Internet Service Provider; 6) Comclark Executive Offices; 7)
                                                                                   Lease Lines; 7.1 International Private Lease Lines (between a
                                                                                   locator within CSEZ and any site outside of the Philippines) 7.2
                                                                                   National Private Lease Lines (between a locator within CSEZ and
                                                                                   any site outside of Clark but within the Philippines) 8) Inter
                                                                                   Exchange Carrier (ICX) - wherein Comclark shall provide the
                                                                                   telecommunication link between an enfranchised carrier within the
                                                                                   CSEZ and any other telecommunication entity outside of Clark Field;
                                                                                   9) Other telecommunication services (except telephony and
                                                                                   International Gateway Facility) for the special requirements of
                                                                                   locators within the CSEZ; and 10) Commercial importing, exporting,
                                                                                   warehouse/trading, and transshipmetn of business office related
                                                                                   wares, merchandise and commodities such as, but not limited to,
                                                                                   electronic equipment, hardwares, appliances, communication
                                                                                   systems, telephone units, fax machines, PABX, other office supplies
                                                                                   and others which are necessary and used in carrying out the usual
                                                                                   business operations of the Lessee.
COMSTECK INTEGRATION ALLIANCE, INC.             Information Technology             Provide network related services including turnkey solutions from        35 sq.m. (more or less) of 3 storey Bldg. of        Philippines
(New Sublease Agreement with Comclark                                              conceptualizing, designing and implementation of projects, offers full   ComClark Building M.A. Roxas Highway, Clark
Network and Technology, Inc.)                                                      range of prodcuts from poles, pole hardware (clamps, bolts, etc.),       Freeport Zone, Philippines.
                                                                                   batteries, cables (copper & fiber optics), radio frequency (RF)
                                                                                   connectors, RF actives & passive, optical accessories, servers, high
                                                                                   end routers network peripherals, software requirement and down to
                                                                                   the customer premise equipments (desktops, etc.) by itself or
                                                                                   through local or foreign partners and engineering services from
                                                                                   cable construction to termination of the preferred medium, and RF
                                                                                   related works.
Cyber City Teleservices (Phils.) Inc., Sub-lessee Information Technology Related   to carry out its businees of Operating a Call Center and other           Facility Nos. 2524, 2525, 2526, and 2527 Cyber         USA
of Cyber City Teleservices Ltd.                                                    Business Process Outsourcing (BPO) services utilizing information        City Park, Apo Court, Sergio Osmena Road,
                                                                                   and telecommunication technology.                                        CFZ, Philippines
Cyber City Teleservices L.T.D. (Sub-lessee of Information Technology Related       to use the sub-leased property for Call Center and Telemarketing         Bldg 5250 Samat St. CFZ, Philippines                   USA
Philippine Cyber Technopark Corporation)                                           Services.
Cyber City Teleservices, L.T.D. (Direct LA w/ Information Technology Related       To engage in the operation of a Call Center, Teleservices and other      located at the Apo Court along Sergio Osmena           USA
CDC)                                                                               Information Technology (IT) related services to the foreign market.      Street, CFZ, Philippines




                                                                                                            Page 39
                ENTERPRISE                            TYPE OF PROJECT                                          PROJECTS                                                      ADDRESS                            Nationality

Devco Philippines, Inc. - Sub-lessee of Philexcel Information Technology Related   Office space for the pursuit of its information technology business Unit 28, and Room 9, M.A. Roxas Highway, CFZ,             Hong Kong
of Philexcel Industrial Park, Inc.                                                 including software development and shall handle ships/vessels Philippines
                                                                                   management which include modiling using CAD software packages,
                                                                                   simulation based on VR technology and inspection tools for report
                                                                                   management and other related activities.

Digital Telecommunications Philippines, Inc.    Information Technology Related     To engage in:         Business office for the          provision of along Jose Abad Santos Avenue and Manuggal                Philippines
                                                                                   telecommunication and related services including the   establishment, Street, CFZ, Philippines
                                                                                   operation and maintenance of telecommunication          facilities and
                                                                                   networks in the CSEZ
Digitel Mobile Phils., Inc. (DMPI) (New Lease Information Technology Related       Installation, operation and maintenance of a           cellularbase CDC existing siren post within 42 sq.m., open             Philippines
Agreement)                                                                         transceiver station                                                  space and 15 sq. m. space within the portion of
                                                                                                                                                        the existing radio room at the FM Hill Tower,
                                                                                                                                                        located along Jose Abad Santos Highway, Clark
                                                                                                                                                        Freeport Zone, Philippines
DJ Network Inc., (New Sub-lease Agreement with Information Technology              Exclusively to provide customer contact management solutions, 100 sq. m. Unit 1A-1, Philexcel Business Park,                  Philippines
Philexcel Business Park)                                                           customer service and support, technical support or warranty, Clark Freeport Zone, Philippines
                                                                                   inbound and outbound sales, customer relations, marketing surveys
                                                                                   and research, crisis management, and other key business
                                                                                   applications through multiple communications channels including
                                                                                   but not limited to phone, e-mail, web and chat for domestic and
                                                                                   foreign corporation organizations and all other services and support
                                                                                   necessary and required to the proper conduct and operation of a
                                                                                   customer contact management solutions and services.


ELCELL Call Center Limited, Inc. (New Sublease Information Technology Related      Exclusively to engage in the business of call center and customer        68 sq. m., Room 6, Philexcel Business Park,       Philippines/British
Agreement with Philexcel Business Park)                                            services center foreign clients and markets in the United Kingdom.       Clark Freeport Zone,Philippines
                                                                                   Types of services/products may include but not limited to
                                                                                   Finance/Accounting task, ERP, IT Management/Operations and Post
                                                                                   Sales Support
Elucky Asia Corporation (New Lease Agreement) Information Technology Related       Exclusively for ICT and other complementary ICT related activities to    3,658 sq. m., open space and 2,042 sq. m. floor   Philippines/Korea
                                                                                   wit; to provide, operate, distribute, acquire, purchase and develop      area, along Claro M. Recto Highway, Clark
                                                                                   computer hardware and software, solutions and electronic games, to       Freeport Zone, Philippines
                                                                                   provide animated, simulated and interactive gaming services
                                                                                   exclusively for regional and global market and co-location service; to
                                                                                   provide, manage, distribute and operate all kind of information and
                                                                                   knowledge, whether known or to be developed, through the use of
                                                                                   computer and electronic technologies, including those relating to
                                                                                   tourism, recreational services, hotel resource management, resort
                                                                                   development and enjoyment and other leisure services, and to
                                                                                   export from and to import into the Republic of the Phils., and any all
                                                                                   countries foreign thereto, as principal or agent, the knowledge,
                                                                                   products and results of all the above services




                                                                                                            Page 39
                ENTERPRISE                            TYPE OF PROJECT                                           PROJECTS                                                       ADDRESS                                 Nationality

ENPLAS TESCO TECH SERVICES (PHILS.) Information Technology Related                  Exclusively to provide technical services and support, including 400 sq.m. Bldg. 22 B & C, Berthaphil Compound
(New Sublease Agreement withBerthaphil                                              QA/QC testing and R & D to semiconductor companies in the CFZ    I, Jose Abad Santos Avenue, Clark Freeport
Business Park)                                                                                                                                       Zone, Philippines




E-Telecare Clark Services, Inc. (formerly AOL Information Technology Related        To provide customer support related services to affiliated and non- CFZ, Philippines                                                   USA
Member Services-Philippines, Inc.)                                                  affiliated customers or clients of the Corporation to facilitate access
                                                                                    to and use of interactive services.
GLOBE TELECOM, INC. (New Sublease                Information Technology Related     Installation of a pico cellular site to boost cellular signal within the 1st flr. Of the entire Bldg. inside Puregold Duty          Philippines
Agreement with Puregold Duty Free, Inc.)                                            building.                                                                free, Inc. Bldg.,C.M. recto Highway, cor. P. Kalaw
                                                                                                                                                             St., Clark Freeport Zone, Philippines.

Greenlights Systems Services Incorporated (New Information Technology               To engage in software application development, website design,       69 sq.m. Unit 1F-5, Philexcel Business Center 3,           Philippines/British
Sublease Agreement with Philexcel Business                                          website hosting, data center fulfillment, programming of servers and Philexcel Business Park, Inc. M. Roxas Highway,
Park Inc.)                                                                          other related activities.                                            Clark Freeport Zone, Philippines.

HBA DESIGN (PHILIPPINES) INC. (New               Information Technology             Exclusively to undertake computer aided design and 3D rendering         138 sq. m. Unit 2F- 4&5, Philexcel Business Park      Philippines/Switzerland
Sublease Agreement with Philexcel Business                                          for 100% export. Service lines may include, but not limited to          Clark Freeport Zone, Philippines
Park)                                                                               engineering plans, drawings, comprehensive design and
                                                                                    specification for all types of facility design.

ICS ICT SUPPORT SERVICES CORP. (New              Information Technology Related     To provide systems integration covering procurement of IT software, 516 sq.m. Bldg. 19-A, Berthaphil Compound I,                    Philippines
Sublease Agreement with Berthaphil, Inc.)                                           hardware (PC's, servers, notebooks, networking solutions), to       Jose Abad Santos Ave., Clark Freeport Zone,
                                                                                    provide customized IT solutions, services & maintenance for both IT Philippines
                                                                                    hardware & software for customers' specific computing needs, to
                                                                                    provide technology infrastructure related to IT processes and
                                                                                    operations.

Infinno, Inc. (Formerly: Midwest Technologies, Information Technology Related       Representative Office to deal directly with the clients of the parent   Bldg. 2515 Units A & B, CSEZ Main Zone                      Philippines
Inc.)                                                                               company for technical writing, graphics illustrating, database          bounded by N. Aquino Ave., E. Quirino and J.
                                                                                    development, web design as well as data capture and data                Abad Santos Ave., CSEZ, Clark Freeport Zone,
                                                                                    management services to customers in the aircraft, mining,               Philippines
                                                                                    agricultural implement and automotive industries, and to be fully
                                                                                    subsidized by its head office, but not to derive income from the
                                                                                    Philippines.
IQOR (formerly Intellirisk Philippines, Inc., Sub- Information Technology Related   Designing, implementing and operating certain business process 2nd floor, Bldg 36 & 37, Jose Abad Santos                               USA
lessee of Berthaphil, Inc.)                                                         with the use of electronic means as well as telecommunications to Avenue, CFZ, Philippines
                                                                                    enable clients, primarily those located in other countries, to sharpen
                                                                                    their strategic business focus, while improving the performance of
                                                                                    these non-core business activities. To provide bookkeeping,
                                                                                    receivable and payables processing, billings and collection treasury,
                                                                                    escrow and other related services primarily to clients located in
                                                                                    other countries. To engage in the business of collecting, buying
                                                                                    selling and dealing in current and delinquent accounts primarily of
                                                                                    clients located in other countries




                                                                                                             Page 39
                ENTERPRISE                           TYPE OF PROJECT                                          PROJECTS                                                       ADDRESS                           Nationality

ISENSORS, INC. Sub-lease Agreement with Information Technology Related            Manufacturing, assembly, research an development of information Bldg. 18-A, Berthaphil Compound 1, Jose Abad                     USA
Berthaphil, Inc.                                                                  and communication technology enabled equipment, such as the Santos Avenue, CFZ, Phils.
                                                                                  simple network management protocol-based environmental and
                                                                                  monitoring equipment for disaster prevention and infrastructure
                                                                                  security inside the Clark Freeport Zone

Microtel Global Solutions, Inc. Sublessee of Information Technology               exclusively to engage in conduct, operate, and carry on the              Unit 16 J-K, Philexcel Business Park, Inc., CFZ,   Philippines/USA
Philexcel Business Park, Inc.                                                     operation of a business process outsourcing (BPO)/call center            Philippines
                                                                                  including both inbound and outbound calls, marketing and survey
                                                                                  campaigns, data communications and IT Support, professional
                                                                                  services and knowledge management support
Momentum Data East-Philippines, Inc., Sub- Information Technology Related         To engage in technology services including technology outsourcing,       Room 8, Philexcel Business Park, BC2, M.A.         Philippines/USA
lessee of Philexcel Business Park, Inc.                                           business process outsourcing, electronic commerce, and system            Roxas Highway, CFZ, Philippines
                                                                                  integration, development, installation, and operate technology
                                                                                  solutions for several different industries catering to continuous
                                                                                  improvements in technology and business processes, and adapt to
                                                                                  emerging technologies and processes.

NCO Phils. Clark, Inc. (New Sub-lease Information Technology                      To engage in the provision of call center and business process           2,000 sq. m. 1st Bldg. Philexcel Business Center   Philippines/USA
Agreement with Philexcel Business Park, Inc.                                      outsourcing services including, but not limited to, technical support,   4 & 3,072 sq. m. 2nd Bldg. Philexcel Business
                                                                                  help desk, customer care, sales, collections and other customer          Center 5, Philexcel Business Park, Inc. M.
                                                                                  support                                                                  Roxas     Highway,     Clark   Freeport    Zone,
                                                                                                                                                           Philippines
Norman Bernard Solutions, Inc.                  Information Technology Related    Engage in the business of research and development of computer           CFZ, Philippines                                      Australia
                                                                                  technology, hardware and software for all types of applications,
                                                                                  building database for use in information technology; providing
                                                                                  services like systems conversion, information content development,
                                                                                  data encoding, information technology solutions and otherwise
                                                                                  providing all types of information related services.

OWENSBPO, INC, (New Sublease Agreement          Information Technology Related    To engage in the business of Information Technology ("IT") and IT        207 sq.m., Unit 1F1, Philexcel Business Park 3,         USA
with Philexcel Business Park, Inc.)                                               enabled services primarily to foreign markets/clients including but      Philexcel Business Park, M.A. Roxas Clark
                                                                                  not limited to: international credit and background investigation,       Freeport Zone, Philippines
                                                                                  management interview, data gathering, information verification
                                                                                  including but not limited to residency, public records, bankruptcies
                                                                                  civil court judgements, electoral registry and credit opinion.

Philippine Multi-Media System, Inc.             Information Technology Related    To establish a Digital Broadcast Facility (Satellite Direct to Home Building No. 12350, Civil Aviation Complex, CFZ,          Philippines
                                                                                  (DTH) cable TV service facility)                                    Philippines

Prechart Software, Inc., Sub-lessee of Philexcel Information Technology Related   Software development and webhosting services and related Room 18, BC2, M.A. Roxas Highway, CFZ, Philippines/Netherlands/Brit
Business Park, Inc.                                                               business activities.                                                 Philippines                       ish Virgin Island
Secomp, Inc., (Bldg 7107) (Expansion)           Information Technology Related    Importation of computing and input output equipment to be Bldg 7107, Feati Street, CFZ, Philippines   Philippines/British
                                                                                  refurbished as a whole or as components parts and re-export to
                                                                                  Europe, USA, Australia and South East Asia; Setting up of IBM data
                                                                                  center, rebuilding/refurbishing, software development and back
                                                                                  office facility; Setting up of mainframe/midrange computer center to
                                                                                  service foreign and local clients in need of data back up and
                                                                                  application development using high speed communications lines;
                                                                                  Refurbishing IT and printing equipment and offshore printing and
                                                                                  data center.




                                                                                                           Page 39
                 ENTERPRISE                           TYPE OF PROJECT                                           PROJECTS                                                       ADDRESS                                 Nationality

SDK OUTSOURCING SERVICES, INC.(New               Information Technology Related     Operating a business process, outsourcing (BPO), that will provide      225 sq.m. Room 4,6 & 8 Philexcel Business                   USA/Korea
Sublease Agreement with Philexcel Business                                          100% export services relating to Computer Aided Design. Products        Center 2, Philexcel Business Park, Inc., M. A.
Park)                                                                               may include but not lilited to engineering plans, drawings, cost        Roxas     Highway,   Clark   Freeport    Zone,
                                                                                    estimates, comprehensive design, specifications for all types of        Philippines
                                                                                    facility design, civil work design,landscaping design, construction
                                                                                    management & supervision

SMT DATAKEY, INC. (New Sublease Agreement Information Technology Related            Exclusively to engage in the business of international out-bound call   480 sq.m. Unit 7B Philexcel Business Park, Clark       Philippines/Australia
with Philexcel Business Park)                                                       center operations                                                       Freeport Zone, Philippines
SPLICE TECH & LOGISTICS, INC. (New        Information Technology Related            Exclusively to set-up a facility to act as a global logistics hub,      510 sq.m. Bldg. 04 located at Berthaphil II, South   Philippines/British Virgin
Sublease Agreement with Berthaphil, Inc.)                                           assembly and configuration facility utilizing pre-engineered design     Bayanihan St., Clark Freeport Zone, Philippines               Island
                                                                                    systems, carrying Splice UK product technology used for: 1.) Optical
                                                                                    Distribution frames, 2.) panels, 3.) Splice Cassettes, 4.) WDM
                                                                                    Arrays, 5.)Cable Management, 6.) Fiber Components, 7.)
                                                                                    Accessories, 8.) Installation services and 9.) Pulled fibre solution
                                                                                    where 72% has to be exported and 28% for domestic sales during
                                                                                    the first year, and 75% export and 25% domestic sales during the
                                                                                    second and third year.

STMPI Corporation - Sub - lessee of Comclark Information Technology Related         1) Research and development of computer technology, hardware Ground Floor, Comclark Building, M.A. Roxas                             Australia
Network and Technology Corp.                                                        and software for all types of applications, building database for use Highway, CFZ, Philippines
                                                                                    in information technology, providing services like systems
                                                                                    conversion, information content development, data encoding,
                                                                                    information technology related services; and 2) Manufacture, export,
                                                                                    import and wholesale distribution of computer and/or information
                                                                                    technology hardware and peripherals and software applications.

Stratex Networks Asia Pacific Service Center Information Technology Related         To use the property as a: repair and service facility for DMC - Unit 10A and 10B M.A. Roxas Highway, Clark                          Philippines
Corporation (Formerly: DMC Stratex Networks                                         manufactured equipment, including technical support and services Freeport Zone, Philippines
Asia Pacific Service Center Corp.), Sub-lessee of                                   for the whole Asia Pacific Region.
Philexcel Business Park, Inc.
Sutherland Global Services Philippines, Inc., Sub- Information Technology Related   Process Consulting, Technology Support Services, Account                Bldg 23 Plaza A, Bldg 35 1st Floor, corner Jose                India
lessee of Berhtaphil, Inc.                                                          Management Services, Technical Support/Help Desk Services,              Abad Santos and e. Quirino St., CFZ, Philippines
                                                                                    Customer Care Services and Back Office Processing for Operating
                                                                                    Call Center
SV Human Resources, Inc. (New Sublease Information Technology                       Exclusively to engage in information technology related services and    130 sq. m. Office Suite C, The Center at Clark,             Philiipines
Agreement with Berthaphil, Inc.)                                                    business process outsourcing services such as but not limited to a)     Berthaphil Compound III, Jose Abad Santos
                                                                                    accounting/bookkeeping       b)   computer    programming/software      Ave., Clark Freeport Zone, Philippines
                                                                                    development c) data entry d) medical transcription


Teleworks BPO Solutions Philippines, Inc. (New Information Technology               Exclusively for handling, inbound and outbound calls for                377 sq. m. of Bldg. 2518 Philippine Cyber                      USA
Sub-lease Agreement with Easttrends Inc.)                                           telemarketing, sales, customer service, technical support or any        Techno Park, Clark Freeport Zone, Philippines
                                                                                    other specific business activity including back office support and
                                                                                    data entry services, among others
Transpacific Broadcast Group Int'l Inc.          Information Technology Related     To operate, manage and maintain a satellite earth station with          Chico Street, Clark Freeport Zone, Philippines              Philippines
                                                                                    broadcast production and post production facilities and other related
                                                                                    activities.
VSC SOFTWARE DEVELOPMENT, INC. (New              Information Technology Related     To engage in software research and development for export to            75 sq.m., Room 2, Philexcel Business Center 2,        Australia/ Philippines
Sublease Agreement with Philexcel Business Park,                                    clients in Singapore.                                                   Philexcel Business Park Inc, Clark Freeport Zone,
Inc.)                                                                                                                                                       Philippines.
XCION (PHILS) INC. (New Sublease Agreement       Information Technology Related     To develop and export software designed for providing Internet-         138 sq.m., Unit 4&5, Philexcel Business Center                 USA
with Philexcel Business Park Inc.)                                                  based electronic payment services that enable customers to send,        3,Philexcel Business Park Inc.,Clark Freeport
                                                                                    request and receive cross-border payments and payment request           Zone, Philippines.
                                                                                    over the internet.
XEOZONE, INC. (New Sub-lease Agreement with      Information Technology Related     Exclusively for IT consulting and software development using the 44 sq.m., Room 12 Philexcel Business Center 2,                  Philippines/USA
Philexcel Business Park, Inc.)                                                      combination of on-shore (USA/Canada) and off-shore (Philippines) Philexcel Business Park Inc., Clark Freeport Zone,
                                                                                    outsourcing model                                                Philippines




                                                                                                             Page 39
                 ENTERPRISE                           TYPE OF PROJECT                                          PROJECTS                                                        ADDRESS                              Nationality

Z Getcare Systems, Inc., Sub-lessee of Philecel Information Technology Related     to engage in the business of Information System Development, and         Room 7, Philexcel BC2, CFZ, Philippines               Philippines/USA
Business Park, Inc.                                                                Software Development for Healthcare.
Zeniark Philippines Consulting Corp. Sublessee of Information Technology Related   exclusively to engage in IT services providing offshore services in,     Unit 1F 6, Philexcel Business Center 3, Philexcel     Philippines/USA
Philexcel Business Park, Inc.                                                      but not limited to, application development, testing, business process   Business Park Inc, Clark Freeport Zone,
                                                                                   management and data management                                           Philippines.



SERVICE ORIENTED
1007 Food Corporation (New Sub-lease Service Oriented                              Exclusively to operate a Chowking Food Outlet                     109 sq. m. of stall 4G & 5G located inside the                  Philippines
Agreement with Puregold Duty Free, Inc)                                                                                                              leased property of Puregold, Inc. C. M. Recto
                                                                                                                                                     Highway, Clark Freeport Zone, Philippines
"K" Line Air Service Phils., Inc., Sub-lessee of Service Oriented                  International/Domestic freieght forwarding business, Air and Sea Room 8A, Philexcel Business Center, M.A.                     Philippines/Japan
Philexcel Business Park, Inc.                                                      Customs brokerage, Logistics & distribution representative office Roxas Highway. CFZ, Philippines
                                                                                   and related business activites only.
Air Asia Berhad, Lessee of CIAC                 Service Oriented                   Office space                                                             w/in DMIA, CFZ, Philippines                               Malaysia
Air Materiel Wing Savings and Loan Association, Service Oriented                   Business Center/Office Space.                                            Ground Floor, Bldg 2126, C.P. Garcia St., CFZ,           Philippines
Inc. (AMWSLAI)                                                                                                                                              Philippines
AMADO R. COSME, JR. CANTEEN (New Sublease Service Oriented                         Exclusively for selling of fast food meals and other food products       30 sq.m. (more or less), located along C.M. Recto        Philippines
Agreement with Clark Liberty Warehouse, Inc.)                                      only.                                                                    Highway, Clark Freeport Zone, Pampanga

Amazingly Clean, Inc., Sub-lessee of Fontana Service Oriented                      Operation of laundry services and other related cleaning services.     Laundry Bldg., Fontana Leisure Parks, C.M.                 Philippines
Development Corporation                                                                                                                                   Recto Recto Highway, CFZ, Philippines
AMCAST Trucking and Forwarding, Sub-lessee Service Oriented                        Office space for its freight forwarding, including customs brokerage, Bldg. 18B-2, Berthaphil Compound, Jose Abade                Philippines
of Berthaphil, Inc.                                                                trucking,   consolidation,      deconsolidation,    tariff consultant, Santos Avenue, CFZ, Philippines
                                                                                   warehousing, seafreight/airfreight services, packing/crating, door to
                                                                                   door services, export/import documentation services.


Aritake Estates, Inc.                            Service Oriented                  Office space for conducting the business of leasing, sub-leasing 2512-D, Ninoy Aquino Ave., CFZ, Philippines                        Japan
                                                                                   and/or management of real and personal property of every kind and
ASIAN DEVELOPMENT BANK                           Service Oriented                  Business Continuity Facility engaging in dealership in securities, in 2,000 sq.m. (more or less) open space, Arayat
                                                                                   description, without however
                                                                                                                                                         St. Ninoy Aquino Ave., Clark Freeport Zone,
                                                                                                                                                         Pampanga

Asiana Philippines GSA, Inc.                     Service Oriented                  City Ticket Office.                                                      Building 2088, Units 2 & 4, CSEZ Main Zone,              Philippines
                                                                                                                                                            along Cardinal Santos Avenue, CFZ, Pampanga

Asiatel Sales & Distribution, Inc., Sub-lessee of Service Oriented                 Office space to carry-out its business activities of buying, selling, Unit 8 of Bldg 3678, located along C.M. Recto               Philippines
Brook Warehousing Systems Co..                                                     distributing, marketing and wholesale and retail of cellular, Highway, CFZ, Philippines
                                                                                   computer, electronic products and its accessories only.

Asipine Corporation                              Service Oriented                  To engage in: 1) Duty Free Food Plant/Shop and Restaurant; 2) Dyess Highway corner Street K, Clark Freeport                       Philippines
                                                                                   Import, export, processing, packing, re-packing, storage, wholesale Zone, Philippines
                                                                                   and retail of meat products; 3) Import, export, storage, wholesale
                                                                                   and retail of Dairy Products, Produce, Spirits and other food adn non-
                                                                                   food products; 4) Office for Asipine Corporation; and 5) Other
                                                                                   related activities.
ASPAC International, Inc., Sub-lessee of Service Oriented                          Office for freight forwarding                                          Room 5A, BC1, Philexcel Compound, CFZ,                Philippines/Singapore
Philexcel Business Park, Inc.                                                                                                                             Philippines
ATE Technologies Corporation, Sub-lessee of Service Oriented                       Repair and maintenance of telecommunication equipment and Unit 21 I, M.A. Roxas Highway, CFZ, Philippines                         Philippines
Philexcel Business Park, Inc.                                                      software/hardware design.
Auction.PH Corporation, Sub-lessee of SPE Service Oriented                         to engage in the business of providing online market services in the Bldg 1995 Mimosa Drive, Mimosa Leisure                         Korea
Food Enterprise Philippines Corporation                                            internet where business and consumers sell and buy goods and Estate, CFZ, Philippines
                                                                                   services either through auction or oturight purchase




                                                                                                            Page 39
                ENTERPRISE                              TYPE OF PROJECT                                PROJECTS                                                  ADDRESS                          Nationality

Bank of the Philippine Islands - Sub lesse of Service Oriented            To establish a banking facility.                                      along Dyess Highway, CFZ, Philippines             Philippines
Land Bank of the Philippines, Inc. (Formerly:
Far East Bank and Trust Company) *
Bases Conversion Dev't. Authority             Service Oriented            a) Administer the former US Military Bases Reservation which have Bldg 7592 of the Civil Aviation Complex, Clark        Philippines
                                                                          been trasferred to it. B). Administer the reverted base lands Freeport Zone, Philippines
                                                                          transferred to it, and c). Adopt, prepare and implement a
                                                                          comprehensive and detailed dev't. program for its subsidiaries and
                                                                          attached authorities in consonance with the directional plans.

BCDA Management and Holdings, Inc. (Formerly Service Oriented             Mandated to manage and administer some of the assets of BCDA       Bldg 7592 of the Civil Aviation Complex, Clark       Philippines
BCDA Holdings, Inc.)                                                      which may include the former U.S. Baseland                         Freeport Zone, Philippines
BIGLUZON TRADE COMPANY SERVICES              Service Oriented             Exclusively for warehousing and trading of various grocery items   200 sq.m. Bldg. 22, Berthaphil Compound 1,           Philippines
(Sublease Agreement with Berthaphil, Inc.)                                and other related products for export Taiwan and Middle East.      Berthaphil Inc. corner Jose Abad Santos & E.
                                                                                                                                             Quirino St. Clark Freeport Zone, Philippines
Blue Bonnet Catering, Inc.                         Service Oriented       Café complemented with: Huge function rooms; Executive lounge; M.A. Roxas Highway, Ninoy Aquino and Abad                Philippines
                                                                          Bar/Music lounge                                                   Santos Ave., CFZ, Philippines
BOLINAO SECURITY & INVESTIGATION                   Service Oriented       Exclusively as an office for management, consultancy and marketing 21 sq.m. Unit 4B, Philexcel Business Center 1 M.     Philippines
SERVICE, INC. (New Sublease Agreement with                                services                                                           Roxas Highway, Clark Freeport Zone, Pampanga
Philexcel Business Park Inc.)
Bulaluhan sa Clark - Sub-lessee of Clark Liberty   Service Oriented       Food stall business.                                               Claro M. Recto Highway, CFZ, Philippines             Philippines
Warehouse Club, Inc. **
CENTER LINE INTERNET CAFÉ (New Sublease            Service Oriented       Exclusively for internet café only.                                   48 sq. m. (4 stalls) Bayanihan Park, Clark        Philippines
Agreement with Clark Hauz Holdings                                                                                                              Amusement Park, Clark Freeport Zone,
Corporation)                                                                                                                                    Philippines
CDC Global Link Freight Forwarding Corporation     Service Oriented       Office space to carry-out its business activities as an international Unit 11 of Bldg 3678, along C.M. Recto Highway,   Philippines
                                                                          freight forwarder.                                                    CFZ, Philippines
Clark Asset Protection       Insurance    Brokers Service Oriented        Office space for insurance brokerage purposes.                        Bldg. 2126, C.P. Garcia Street (adjacent to CDC   Philippines
Corporation (CAPIBC)                                                                                                                            Business Development Building), CFZ

Clark     Development       Corporation    (CDC) Service Oriented         Establish a Provident Fund/Retirement Plan for CDC Directors,         Bldg 2127 C.P. Garcia St. corner E. Quirino St,   Philippines
Employees Provident Fund, Inc.                                            Officers, and Employees.                                              CFZ, Philippines
Clark International Airport Corporation            Service Oriented       To develop, operate and manage the Diosdado Macapagal                 Bldg 6784 Clark International Airport Complex,    Philippines
                                                                          International Airport (DMIA) (formerly Clark International Airport)   Clark Freeport Zone, Philippines
                                                                          Complex.
Clark Investors and Locators Association (CILA), Service Oriented         Office space only.                                                    Bldg 2511-A, CSEZ Main Zone, bounded by N.        Philippines
Inc.                                                                                                                                            Aquino Av., E. Quirino and J. Abad Santos Ave.,
                                                                                                                                                CFZ, Philippines
Clark Mac Enterprises, Inc.- Sub-Lessee of         Service Oriented       To establish and operate a Restaurant.                                C.M. Recto Highway, Clark Freeport Zone,          Philippines
Value City Sales, Inc.                                                                                                                          Philippines
CLARK NORTH AXIS CONSTRUCTION                      Service Oriented       To engage in general construction business including the              Bldg. 2511-D Ninoy Aquino Avenue, Clark           Philippines
CORPORATION (New Sublease Agreement with                                  construction, enlarging, repairing, developing or engaging in any     Freeport Zone, Pampanga
Aritake Estate Inc.) Corporation, Sub-lessee of
Clarkfield Line Foods                              Service Oriented       New Free standing houses and with drive thru roads, plants,
                                                                          works upon buildingJollibee storecondominiums, 24 hours operations Lot 2, bounded by Fields Avenue, M.A. Roxas          Philippines
Clark Hauz Holdings Corporation                                                                                                                 Highway, CFZ, Philippines
Compass Group Philippines, Inc., Contractor of     Service Oriented       Perform, provide and deliver the work and/or services setforth in the C.P. Garcia St., CSEZ, Clark Freeport Zone,       Philippines
AOL Member Services-Philippines, Inc.                                     Agreement entered into by both parties, a copy of which is hereto Philippines
                                                                          attached as "Annex A - Scope of Services".
CRL Environmental Corporation (CRL), Sub- Service Oriented                Has commited to engage in Environmental technical services, Bldg. 7457, Civial Aviation Complex, CFZ,                   Philippines
lessee of Berthaphil, Inc.                                                laboratory services, treatment, consulting, training and research.    Philippines

CTSI LOGISTICS PHIL., INC. (New Sublease        Service Oriented          Exclusively as an office for custom brokerage, freight forwarding and 18 sq.m, Room 1, Room 11, Philexcel Business      Philippines
Agreement with Philexcel B+C343usiness Park                               related business activites only.                                      Center 2, Philexcel Business Park, Inc. Clark
DHL
Inc.) GLOBAL FORWARDING (PHILIPPINES) (New Service Oriented               International freight forwarding, custom clearance, domestic          Freeport Zone, Philippines
                                                                                                                                                CFZ, Philippines                                  Philippines
Sublease Agreement with Philexcel Business Park                           forwarding and warehouse distribution.
Inc.)
DNS Shuttle Service (Clark) Inc. (New Sub-lease Service Oriented          Exclusively for the operation and maintenance of shuttle services and 68 sq. m. Bldg. 18C, Berthaphil Compound 1,       Philippines
Agreement with Philexcel Business Park)                                   the staging, parking and maintenance of shuttle service transport     Berthaphil Inc., corner Jose Abad Santos, Clark
                                                                          vehicles composed of buses, vans and cars.                            Freeport Zone, Philippines




                                                                                                    Page 39
               ENTERPRISE                              TYPE OF PROJECT                                PROJECTS                                                      ADDRESS                                Nationality

E.M. Canlas Management Services (New Sub-         Service Oriented       Exclusively to engage in management and maintenance of real              1 Room of Bldg. 2511-C, Ninoy Aquino Avenue,              Philippines
lease Agreement with Aritake Estates, Inc.)                              properties strictly within Clark Freeport Zone                           Clark Freeport Zone, Philippines
E.M.O. PHARMA CORPORATION (New Sublease           Service Oriented       On-line marketing of pharmaceutical products for 100% export.            100 sq.m. Unit 16G, Philexcel Business Park Inc,          Philippines
Agreement with Philexcel Business Park Inc.)                                                                                                      Clark Freeport Zone, Philippines

Eagle Express Lines, Inc.,      Sub-lessee     of Service Oriented       Office space for diversified freight forwarding operations and related Room 8B,        M.A.    Roxas    Highway,    CFZ,           Philippines
Philexcel Business Park, Inc.                                            business actiivities only.                                             Philippines


Editha S. David (Mazita Catering Services)        Service Oriented       provide canteen services to the employees of Amertron Inc.            Maloma St., CFZ, Philippines                                 Philippines
EL DORADO CONSULTING GROUP, INC. (New             Service Oriented       Consultancy and management firm for hotel and resort development. 44 sq.m., Room 16 Philexcel Business Center 2,                      USA
Sublease Agreement with Philexcel Business Park                                                                                                Philexcel Business Park Inc., Clark Freeport Zone,
Inc.)                                                                                                                                          Philippines
Erriko Construction Corporation, Sub-lessee of    Service Oriented       Office for its construction business and offer services to Clark Room 5B, Business Center, M.A. Roxas, CFZ,                        Philippines
Philexcel Business Park, Inc.                                            locators.                                                             Phils.
Equitable Banking Corporation - Sub lessee of     Service Oriented       Banking services.                                                     C.M. Recto Highway, corner P. Kalaw Street,              Philippines/China
Puregold Duty Free, Inc. *                                                                                                                     Clark Freeport Zone, Philippines
Exel Logistics Management Phils., Inc., Sub-      Service Oriented       Branch office offering the following services: International freight Room 10, Philexcel bC2, M.A. Roxas Highway,                   Philippines
lessee of Philexcel Business Park, Inc. (change                          forwarding, customs clearance, consolidation & contract logistics, CFZ, Philippines
name to DHL endorsed to Legal)                                           supply chain solution/warehouse management.
Fiesta Fields Grill & Foodhauz, Sub-lessee of     Service Oriented       Fast food and dining covering native dishes and some American Stall Nos. 1, 2, & 3 clark Amusement Par, M.A.                Philippines/China/ British
Clark Hauz Holdings Corporation                                          grilled menu only.                                                    Roxas Highway, CFZ, Philippines
Friendship Golf Shop, Sub-lessee of CDC -         Service Oriented       Operate the Proshop Merchandising Section of Mimosa Golf & Mimosa Golf & Country Club, Pro Shop                                    Philippines
Special Project for Resort Operations (CDC-                              Country Club.                                                         Merchansing Section, Montevista Reception
SPRO)                                                                                                                                          Villa, Academy Lane, Mimosa Leisure Estate,
                                                                                                                                               CFZ, Philippines
Fuso Logistics Phils., Inc., Sub-lessee of Service Oriented              Warehousing, cargo handling, logistics and other related business Bldg 4, M.A. Roxas Highway, CFZ, Philippines                 Philippines/Japan
Philexcel Business Park, Inc.                                            activities only.
Gabs Photo & General Merchandise, Sub-lessee Service Oriented            To cater the photo service and photo copying needs of passport Building N7264 C.M. Recto Ave., CFZ,                                Philippines
of Balikbayan Shopping Mall Corporation (non-                            applicants, and sale of general merchandise such as, but not limited Philippines
renewal of contract)                                                     to, office supplies and cellphone paraphernalia.
Gold One Enterprise, Inc.                     Service Oriented           To engage in establishment of a full service station which will house M. A. Roxas Highway, CSEZ, Clark Freeport                    Philippines
                                                                         a fueling forecourt with four pump islands, a convenience store, Zone, Philippines
                                                                         service and lube bays, rest rooms, food stalls, phone booths,
                                                                         automatic car wsh and restaurant/fast food.

Grazioso      Marketing,    Lessee of  Clark      Service Oriented       To sell souvenir products.                                               Pre-Departure area of DMIA, Civil Aviation                Philippines
International Airport Corporation                                                                                                                 Complex, CFZ, Philippines
Harlan's Canteen (New Sub-lease Agreement         Service Oriented       Strictly for the operation of a canteen                                  50 sq. m., open space, Oriental Duty Free, Clark          Philippines
with Demagus Trading Corporation)                                                                                                                 Freeport Zone, Philippines
Hazama Corporation, Sub-lessee of Berthaphil,     Service Oriented       Office space for its Subic-Clark-Tarlac Expressway Project.              Berthaphil Compound, Jose Abad Santos                       Japan
Inc.                                                                                                                                              Avenue, CFZ, Philippines
Hotdogs in a Cart (Mr. Jose Quiwa)                Service Oriented       Selling Hotdogs                                                          Passenger Terminal of DMIA, Civil Aviation                Philippines
                                                                                                                                                  Compex, CFZ, Philippines
IRM AVIATION SECURITY INC. (New Sublease Information Technology          Exclusively only for providing security services, trainings and          200 sq.m. Unit 17K & L, Philexcel Business                Philippines
Agreement with Philexcel Business Park, Inc.)                            consultancy to juridical persons, offices, industrial, commercial, and   Center M. A. Roxas Highway Clark Freeport
                                                                         other establishments whether public or private, anywhere in the          Zone, Philippines
J & E Shawarma - Sub-lessee of Clark Liberty      Service Oriented       Philippines for the purpose of protecting properties.
                                                                         Food stall business.                                                     Claro M. Recto Highway, CFZ, Philippines                  Philippines
Warehouse Club, Inc. *
Jenkins Gales and Martinez, Inc., Sub-lessee of   Service Oriented       Project development, promotion, management and consultancy, to Room 10 Philexcel Business Park, BC1, M..A.                         Philippines
Philexcel Business Park, Inc.                                            the extent allwoed by law.                                     Roxas Highway, CFZ, Philippines
Jobpro Multi-Purpose Cooperative, Sub-Lessee      Service Oriented       Office space for manpower services only.                       Room 15 Philexcel Business Center 2, M.A.                           Philippines
of Philexcel Business Park, Inc.                                                                                                        Roxas Highway, CFZ, Philippines
Kenertec Phils. Corp. (New Lease Agreement)       Service Oriented       Exclusively to engage in a business center project             5992.92 sq. m. open space & 237.08 sq. m.                             Korea
                                                                                                                                        structure of Barn House # 2085, Cardinal St.,
                                                                                                                                        Clark Freeport Zone, Phils.




                                                                                                   Page 39
                 ENTERPRISE                               TYPE OF PROJECT                                PROJECTS                                                          ADDRESS                           Nationality

KINTETSU WORLD EXPRESS (CLARK) INC. (New Service Oriented                   To cater and support the warehousing needs of existing locators,      2, 780 sq.m. #N7170-A El More St., Clark                      Japan
Sublease Agreement with Kita Corporation)                                   including Texas Instrument (Philippines) Inc., services, including    Freeport Zone, Philippines
                                                                            storage and inventory management of clients products and
                                                                            materials, as well as local transportation of products between zones.

KINTETSU WORLD EXPRESS (PHILIPPINES) INC. Service Oriented                  Office space for freight forwarding.                                         100 sq.m., #N7170-A El More St., Clark Freeport        Japan
(New Sublease Agreement with Kita Corporation)                                                                                                           Zone, Philippines

Land Bank of the Philippines (Lilly Hill Area)       Service Oriented       1) Commercial Shopping Complex; 2) Warehouse/Storage; and 3) Dyess Highway, CFZ, Philippines                                      Philippines
                                                                            Office Spaces

Marcedes D. Cabusao (Kirby), Sub-lessee of Service Oriented                 to sell fishballs, squidballs, kikiam, siopao, softdrinks, juices, mineral   Bldg N7264      C.M.   Recto   Highway,    CFZ,      Philippines
Balikbayan Shopping Mall Corporation                                        water only.                                                                  Philippines
Marietta D. Laxamana (Maxel Hotdog Corner), Service Oriented                to sell hotdogs, sandwiches, softdrinks, juices and mineral water for        Bldg N7264      C.M.   Recto   Highway,    CFZ,      Philippines
Sub-lessee of Balikbayan Shopping Mall                                      its food stall business only.                                                Philippines
Corporation
Mercury Freight International, Inc., Sub-lessee of Service Oriented         International/domestic freight forwarding business, Air and Sea Room 8A2, Philexcel BC1, M.A. Roxas Highway                       Philippines
Philexcel Business Park, Inc.                                               Customs brokerage, Logistics & Distribution representative office.

Metro Clark Media Network, Inc., Sub-lessee of Service Oriented             a) Administration Office b) Newsroom; c) Studio                              located at 3/F Comclark Bldg, M.A. Roxas             Philippines
Comclark Network and Technology Corporation                                                                                                              Highway, CFZ, Philippines

Metropolitan Bank and Trust Company (MBTC), Service Oriented                Banking services.                                                            Bldg 7160,     C.M.    Recto   Highway,    CFZ,      Philippines
Sub-lessee of Asipine Corporation                                                                                                                        Philippines

Missua Food and Catering Services (New Sub- Service Oriented                Exclusively for employees canteen, food and catering services                76 sq. m. Bldg. 01C, Berthaphil Compound,            Philippines
lease Agreement)                                                                                                                                         Clark Freeport Zone, Philippines

Mister Donut, Sub-lessee of Balikbayan               Service Oriented       sell donuts, coffee, softdrinks and juice.                                   Bldg N7264 C.M. Recto Highway, CFZ                   Philippines
Shopping Mall Corporation
ML Ideal Interiors Consultancy Services, Sub-        Service Oriented       Consultancy services on interior design, garments and leatehr Unit 1A2, M. A. Roxas Highway, CFZ                                  Philippines
lessee of Philexcel Business Park, Inc.                                     products design.
Mustang Security Agency, Sub-lessee of Victoria      Service Oriented       Office space and as Training Center only.                     Bldg 7369 A. Soriano Sr. St., CFZ                                   Philippines
Foods Company
New Hong Kong Golden Castle Restaurant               Service Oriented       to operate, maintain restaurant, coffee shops, cafes, bars, bistro, 2nd Floor Club House B, Fontana Leisure Parks,                Philippines
Corporaiton,       Sub-lessee      of      Fontana                          refreshment parlors, cocktail lounges and to cater food.            C.M. Recto Highway, CFZ
Development Corporation
Nippon Express Philippines Corporation, Lessee       Service Oriented       Business of forwarder for the combined transportation by air, sea or Bldg 7588 (Airline Office Building) room 10,                   Japan
of Clark International Airport Corporation                                  land from one point of receipt to a point of destination; to operate within the Civil Aviation Complex
                                                                            container depot, warehousing, storage hauling and packing
                                                                            facilities; and to engage in the business of international forwarding
                                                                            and domestic air, sea freight cargo.
Nippon Steel Corporation (Shinnitetsu Philippine Service Oriented           Satellite office for its Subic-Clark-Tarlac Expressway Project.              Unit 22 J & K, M.A. Roxas Highway, CSEZ                Japan
Branch) Sub-lessee of Philexcel Business Park,
Inc.
Nishiyoshi Forwarding, Inc., Sub-lessee of Service Oriented                   Service office for freight forwarding, brokerage and customs Room 17, Philexcel Business Center 2, M.A. Roxas                Japan/Philippines
Philexcel Business Park, Inc.                                               clearance/customs brokerage, cargo consolidators, break bulk Highway, CFZ, Philippines
                                                                            agents, non-vessel common operating carrier (NVOCC), trucking
                                                                            services and other services deem appropriated as to the nature of
                                                                            the business and other related business activities only.

Original Bulgogi House Concept, Inc.           Service Oriented             Restaurant specializing in Oriental Cuisine.                         Bldg 2087, Cardinal Street, CFZ, Philippines                 Philippines
Park Place Food, Inc., Assignee Flores De Mayo Service Oriented             Operation of a restaurant serving Chinese and other oriental dishes. Bldg. 2058, R.C. Santos Street, CFZ, Philippines             Philippines
Realty Inc.

People's Quest International Inc., Sub-lessee of Service Oriented           Office to engage in the business of contracting, enlisting, recruiting Bldg 7170, Blue Diamond and Feati Streets,                 Philippines
Kita Corporation                                                            professionals and workers both skilled and unskilled for CFZ, Philippines
                                                                            local/overseas work and to act as agents of individuals or firms in




                                                                                                      Page 39
                ENTERPRISE                           TYPE OF PROJECT                                 PROJECTS                                                      ADDRESS                         Nationality

Philippine Exporters Confederation, Inc., Region Service Oriented      to manage the One Stop Export documentation Center (OSEDC) Bldg 2127 E. Quirino Ave corner C.P. Garcia                      Philippines
III - Clark                                                            thereby expressing their commitment to support OSEDC's Ave, CFZ, Philippines
                                                                       operations to ensure speedy processing of couments and prompt
                                                                       shipment of goods.
Philippine National Bank-Clark *                Service Oriented       Office space and banking operation purposes only.                 C.P. Garcia St., corner E. Quirino St. Clark              Philippines
                                                                                                                                         Freeport Zone, Philippines
Philippine Veterans Bank - Clark Branch         Service Oriented       to establish a banking facility.                                  Building 2126, C.P. Garcia, CFZ, Philippines              Philippines
Phillip Leong Chan (TJP Pasalubong & gen. Service Oriented             To sell general merchandise such as candies, softdrinks, school & Bldg N7264 C.M. Recto Highway, CFZ,                       Philippines
Merchandise),     Sub-lessee    of   Balikbayan                        office supplies, commercially packed cooking & chips.             Philippines
Shopping Mall Corporation
PTT Philippines, Inc. - Sub-lessee of Gold One Service Oriented        Establishment and operation of a full service gasoline station which M.A. Roxas Highway, CFZ, Philippines                   Philippines
Enterprises, Inc.                                                      will house a fueling forecourt with four pump islands, a convenience
                                                                       store, service and lube bays, rest rooms, food stalls, phone booths,
                                                                       automatic car wash and restaurant/fast food.

Renato M. Lingat, Sr. (Royal Caribbean), Lessee Service Oriented       Selling Jamaican patties                                               Departure area of passenger terminal of DMIA,        Philippines
of CIAC                                                                                                                                       Civil Aviation Complex
Rikko Homes II, Inc. (CUSTOM CLEARANCE Service Oriented                Construction, maintenance and operation of a Customs Clearance within the CDC designated Customs Clearance                  Philippines
FACILITY)                                                              Facility at the Customs Clearance Area within Industrial Estate - 5 to Area at the IE-5 CFZ, Philippines
                                                                       meet the warehousing and storage needs of the Bureau of Customs,
                                                                       Clark locators and Clark Developement Corporation. As shown in
                                                                       the attached site Developemtn Plan the following amenitites shall be
                                                                       included: Warehouse with loading dock; Office for Burau of
                                                                       Customs and CDC; Comfort Rooms; Cantten; Generator set.

Rizal Commercial Banking Corporation (RCBC) Service Oriented           Banking Facility. (incentives to ATP ONLY)                               Dyess Highway corner Wilson Street, Clark          Philippines
(Sub-lessee of Clark Trading Corporation) *                                                                                                     Freeport Zone, Philippines

RJC SECURITY AND INVESTIGATION AGENCY,      Service Oriented           Exclusively for office space as Training Center and Quarters only.       220 sq.m. (more or less), portion of Bldg. 7368,   Philippines
INC. (New Sublease Agreement with Victoria                                                                                                      located along A. Soriano Sr. St, Clark Freeport
Foods Company)                                                                                                                                  Zone, Philippines
Rogelio G. Santos Construction and Trading, Service Oriented           Extension office only to carry out its construction business.            CFZ, Philippines                                   Philippines
Sub-lessee of Brook Warehousing systems Co.


ROMIE'S PIZZA-BRANCH III (New Sublease          Service Oriented       Exclusively for selling of pizza,softdrinks, juice, mineral water,etc.   CFZ, Philippines                                   Philippines
Agreement with Balikbayan Shopping Mall
Corporation)
S.L.K. FILIPINO FOOD DISTRIBUTOR (New           Service Oriented       Exclusively as an office, warehousing and packaging of local             18 sq.m, Room 1, Business Center 1 and 100         Philippines
Sublease Agreement with Philexcel Business Park                        consumer goods such as canned goods, toiletries, food stuff, juices,     sq.m.,Unit 17M, Philexcel Business Park, Inc.
Inc.)                                                                  noodles, cereals, biscuits, etc., for 100% export to Australia, Middle   Clark Freeport Zone, Philippines
                                                                       East, and other Asian Countries.
SIMON & STANLEY INTERNATIONAL TRADING         Service Oriented         Office and warehouse hub to supply, install and service all types of     CFZ, Philippines                                   Philippines
AND DEVELOPMENT CO., INC. (New Sublease                                appliances and air conditioners both for residential and industrial
Agreement with Comclark Network & Technology,                          establishments within Clark and Constructive export to other
Inc.)                                                                  Economic Zone, Freeport Zone and to other Tax Exemt Entities.




                                                                                                  Page 39
               ENTERPRISE                           TYPE OF PROJECT                                PROJECTS                                                       ADDRESS                           Nationality

Smartnet Philippines, Inc. (Sub-lessee of Service Oriented            To use the sub-leased property for its Office space and will be Building 4021 Centennial Road, CFZ, Philippines                Philippines
Comclark Network and Technology Corporation)                          engaged in Internet protocol Satellite Services (IPSAT)-in
                                                                      partnership with the sales services and maintenenace of Comclark's
                                                                      Trunking Radio System, and warehousing/trading of information
                                                                      technology (IT) products such as routers, switches, hubs, fiver
                                                                      transceivers, networking products, structured cabling products,
                                                                      multiplexers and terminal servers; and telecommunication products
                                                                      such as public trunk radio communication, public radio paging
                                                                      system, portable radio, repeaters, microwave equipment, antennas
                                                                      and accessories, telecommunications cable (heliax, coaxial,
                                                                      50ohms), lighting protection and grounding system using Comclark's
                                                                      warehouse.

Snack N Treat Corporation, Sub-lessee of Service Oriented             Convenience Store to service members and guest of Fontana Ground Floor Club House B. Fontana Leisure                           Philippines
Fontana Development Corporation                                       Leisure Parks.                                            Parks, C.M. Recto, Highway, CFZ, Philippines

SPE Food Enterprises Philippines Corporation Service Oriented         1. Operate the Korean House Restaurant 2. Administrative Office Building 1992, and 1995, Mimosa Drive, Mimosa                  Philippines
(with Expansion Project)                                              for the preparation of business plans and other requirements for an Leisure Estate, CFZ, Philippines
                                                                      internet business to business establishments in Clark.

STOTSENBERG HEALTHCARE SYSTEM, INC. Service Oriented                  Exclusively for medical insurance packages targeting employees           72 sq. m. Unit 12, Lilly Hill Plaza, C.M. Recto       Philippines
(New Sublease Agreement with LandBank of the                          and corporations operating within the Clark Freeport Zone. Offering      Highway, Clark Freeport Zone, Philippines
Philippines)                                                          bundled packages that will be distinct from those offered by other
                                                                      healthcare organizations such as a. Full medical diagnostics
                                                                      services at the SMCI Laboratories; b. mobile diagnostic services; c.
                                                                      On-site advise on management of medical services; d. Medical
                                                                      consultations by in-house physicians for their members; e.
                                                                      Healthcare coverage at accredited hospitals.

Stotsenberg Medical Center, Inc., Sub-lessee of Service Oriented      a. Medical service facility including Blood chemistry, Cholesterol Stall Nos. 13, 14, 15, portion of Lilly Hill Plaza,         Philippines
Land Bank of the Philippines                                          and Sugar determinations, X-Ray and Ultrasound Services, C-12 C.M. Recto Highway, CFZ, Philippines
                                                                      protein Chip Tumor Marker Determinations; b) Operation of a
                                                                      Pharmacy; c) Medical Transcription; and d) Trading

Surefund Finance Corporation, Sub-lessee of Service Oriented          Office to carry-out the business of extending credit and financing       Unit 14 of Bldg 3678, located along C.M. Recto        Philippines
Brooks Warehousing Systems Co.                                        facility to individuals, industrial, commercial and agricultural         Highway, CFZ, Philippines
                                                                      enterprises.
Techno Trade Alliance Corp. (Sub-lessee of Service Oriented           To engage in Baskin and Robin Ice Cream Parlor, Mrs. Field's             Dyess Highway,beside Lily Hill, Clark Freeport        Philippines
Bellfoods Corp.)                                                      Cookies and Subway Sandwish outlets.                                     Zone, Philipppines
The Northern Office Arts and Crafts (New Sub- Service Oriented        Exclusively for sales and marketing consultancy for various              26 sq. m. , Philexcel Business Park, Inc. M. A.       Philippines
lease Agreement with Philexcel Business Park)                         Philippines based companies                                              Roxas     Highway,    Clark   Freeport    Zone,
                                                                                                                                               Philippines

The Red Crab Food Group, Inc., Assignee of The Service Oriented       To operate the Red Crab Seafood and Steaks Restaurant.                   Bldg 2078, within Mimosa Leisure Estate, CFZ,         Philippines
Red Crab Seafood & Steaks Restaurant                                                                                                           Philippines
Tita Merce's Foodhouse & Ihaw-ihaw - Sub- Service Oriented            Food stall business.                                                     Bldg N7264 C.M. Recto Highway, CFZ,                   Philippines
lessee of Balikbayan Shopping Mall Corporation                                                                                                 Philippines

TMC Recycling Technology Clark, Inc. (New Sub- Service Oriented       Exclusively rendering services consisting of collecting, sorting, 324 sq. m. Bldg. 03 Berthaphil Compound V, Gil           Philippines/Cayman
lease Agreement with Berthaphil Business Park)                        identifying, destroying, crushing, processing, recycling, treating Puyat Avenue, Clark Freeport Zone, Philippines


Top Max Golf International Inc., Sub-lessee of Service Oriented       Satellite office to carry out its business of developing golf courses.   Unit 3 of bldg 3678, located along C.M. Recto         Philippines
Brooks Warehousing Systems Co.                                                                                                                 Highway, CFZ, Philippines
UNIVERSAL ACCESS AND SYSTEMS SOLUTIONS Service Oriented               Exclusively for the office space of payperview ( video on demand)        30 sq.m. of 3 storey Bldg. of Comclark Building       Philippines
PHILS, INC. (New Sublease Agreement with                              (hotels) Fontana systems integration, call centers solutions, Holiday    M.A. Roxas Highway, Clark Freeport Zone,
Comclark Network and Technology, Inc.)                                Inn and other locators.                                                  Philippines




                                                                                                Page 39
                ENTERPRISE                           TYPE OF PROJECT                               PROJECTS                                                       ADDRESS                              Nationality

UNITED COCONUT PLANTERS BANK (UCPB) Service Oriented                   Exclusively as branch site for United Coconut planters Bank.             Stall Nos. 20,21 & 22, Lilly Hill Plaza, C. M.          Philippines
(New Sublease Agreement with Land Bank of the                                                                                                   Recto Highway, Clark Freeport Zone, Philippines
Philippines)+C371
UNIVERSITY OF THE PHILIPPINES                 Service Oriented         Establishment of permanent site for UP Clark campus to be known          3.28 has, Open space located at the back of the         Philippines
                                                                       as "UP Clark University Town"                                            leased properties of Puregold Duty Free Stores
                                                                                                                                                and Brooks Warehousing Corporation along C.M.
                                                                                                                                                Recto St., Clark Freeport Zone, Philippines

Vision Express Laboratories, Inc., Sub-lessee of Service Oriented      To engage in and carry on the business of importing and exporting, Unit 21E, M.A. Roxas Highway, CFZ, Philippines          Philippines/USA/British
Philexcel Business Park, Inc.                                          manufacturing and processing, selling or buying at wholesale, or
                                                                       otherwise dealing in optical lenses, contact lenses, spectacles and
                                                                       optical appliances, including but not limited to optical machineries,
                                                                       equipment, instruments and other optical articles wares,
                                                                       merchandise and commodities.

                                                                       Sub-lessee shall export at least 70% of their finished product in
                                                                       order to be allowed registration and renewal as a CSEZ enterprise.

Waterlympics CSEZ Purified Drinking Water, Service Oriented            Processing, selling and distribution of purified water, ice and other Bldg 17104, Feati Basilio Fernando Street, IE1             Philippines
Assignee of Waterman Clark, Inc.                                       related products only.                                                Elmore Street, CFZ, Philippines

Wide Wide World Express Corporation Service Oriented                   office for their pick-up/delivery service, freight forwarding and other room 1, BC1 , M.A. Roxas Highway, CFZ,                   Philippines
(WWWEC), Sub-lessee of Philexcel Business                              related business activities.                                            Philippines
Park Inc.
Wind Tunnel International, Inc.           Service Oriented             To engage in Full service gasoline station which will include the        Building 1759, M.A. Roxas Highway, CFZ,                 Philippines
                                                                       following facilities: Primary Faciliteis: Minimum one (1) pump           Philippines
                                                                       island; Each forecourt/pump island should have a minimum of two
                                                                       (2) brand new electronic fuel pumps with large luminous display and
                                                                       volume monitor read out with preset buttons and Point of Sales
                                                                       (POS) interface capability; Each fuel pump shall have three (3)
                                                                       distribution lines for diesel, unleaded and super premium; Rest
                                                                       rooms; Car service; Lube bay; Car wash area; Ample parking space;
                                                                       Optional Ancillary Facilities:      Restaurant and food stalls;
                                                                       Convenience store.
Worldstar Pacific, Inc., Sub-lessee of Philexcel Service Oriented      Office purposes to handle the licensing of manufacturing, assembly       Unit 1A3, M.A. Roxas Highway, CFZ, Philippines       Philippines/USA
Business Park, Inc.                                                    and distribution of Worldstar Automobiles nad utility line vehicles in
                                                                       the Asia Pacific Region only.
Y-I Leisure Philippines, Inc., (Brunello) Sub- Service Oriented        Development and operation of a wine bar/café and specialty               Brunello Bldg, Clear Water Country Club,            Philippines/British
lessee of YI Leisure (Clark) Inc.                                      restaurant and for some sports facilities.                               Centennial Road, Corner Creekside

Y-I Leisure Philippines, Inc., Sub-lessee of Service Oriented          Establish and operate a snack bar and restaurant to cater mostly to      Cafeteria, Philexcel Business Park, M.A. Roxas      Philippines/British
Philexcel Business Park, Inc.                                          existing Philexcel tenants and to the local community.                   Highway, CFZ, Philippines
Y-I Wine Club - VINCAFE (Expansion), Sub- Service Oriented             Operation of a wine bar/café and specialy restaurant and for some        located within the function and conference area     Philippines/British
lessee of YI Leisure Clark, Inc.                                       sports facilities (Tennis Court).                                        in the Clearwater Development Plan, CFZ

YI Wine Club, Inc.                              Service Oriented       a) Digital Musical Studio; b) Recording Studio; c) Snack                 Bldg-Former Mimosa Fun House                          Philippines/UK
                                                                       Bar/Restaurant; d) Wine Bar and Pub; e) Catering Services; f) Food       located along Mimosa Drive within the former
                                                                       and Service Concessionaire; g) Other related food service,               Mimosa Leisure Estate, CFZ
                                                                       entertainment.
Y-I Wine Club, Inc. - Assignee of YI Leisure Service Oriented          Operation of Gasthof German Cuisine Restaurant as a Food, Cigar          Building 1988, Mimosa Leisure Estate, CFZ           Philippines/British
(Clark) Inc. (Gasthoff)                                                and Wine Club, exclusive only for members and their guests.




                                                                                                Page 39
                ENTERPRISE                            TYPE OF PROJECT                                 PROJECTS                                                       ADDRESS                              Nationality

Yusen Air and Sea Services Phils. Inc., Sub- Service Oriented             Office purposes and shall not utilize or devote the premises for any CASSC Cargo Center, Diosdado Macapagal                       Philippines
lessee of Clark Airport Support Services                                  other use without prior written consent of the Sub-lessor.           International Airport, CFZ
Corporaiton
Zen Restaurant Corporation                   Service Oriented             Operation of a restaurant serving Japanese and other oriental Bldg 2003, along Mimosa Drive within the former                    Philippines
                                                                          dishes.                                                       Mimosa Leisure Estate, CSEZ
TOURISM ESTATE PROJECT
A-TECH KOREA CO., LTD, (New Lease                Tourism Estate Project   Retirement Estate Project with the following facilities: 84 (+/-) luxury 32,000 sq.m. more or less of Lot 5 & Lot 6, along          Korea
Agreement)                                                                villas, swimming pools, picnic areas, open playfields, meditation        Malago St., Clark Freeport Zone, Philippines.
                                                                          gardens, entrance gate, roadways & pathways and security or
                                                                          maintenance facilities.

BB    International   Leisure    and      Resort Tourism Estate Project   Hotel, resort, recreation, amusement, entertainment, casino, and 2H-I, M.A. Roxas Highway, CFZ, Philippines                  Belize/China/Filipino
Development                                                               related business; to plan, design, and construct buildings and
                                                                          facilities for hotel, resort, recreation, amusement, entertainment,
                                                                          casino, and related purposes; to purchase, lease, or otherwise
                                                                          acquire, and to sell, lease, or otherwise dispose of the same; to
                                                                          operate, conduct, and carry on the hotel, resort, recreation,
                                                                          amusement, entertainmetn, casino, and related business and all
                                                                          adjuncts and accessories thereto, including, but not limited to,
                                                                          restaurants, bars, barber shops, news and cigar stands, health and
                                                                          fitness centers, spas, golf and athletic facilities, theme parks and
                                                                          amusement centers, duty-free shops, convention and business
                                                                          centers, casinos, and the like; to do and perform any and all things
                                                                          for the pleasure, comfort, convenience, and amusement of guests
                                                                          and the general public; and generally to do any and all things
                                                                          necessary, pertinent, or convenient to the purposes herein stated;
                                                                          Operation of a duty-free shops shall be subject to the outcome of
                                                                          the Incentive Law.
Café Mesa Coffee Shop, Sub-lessee of Aritake Tourism Estate Project       Café and Internet café                                                 CFZ, Philippines                                           Philippines
Estates, Inc.
Clark Hauz Holdings Corporation              Tourism Estate Project       1) Establishment and operation of "Clark Amusement Park" Lot I and Lot II bounded by Fields Avenue, M.A.                         Philippines
                                                                          complete with support facilities including restaurant, food stalls, Roxas Highway, CFZ, Philippines
                                                                          souvenir shops and others as illustrated in the attached site
                                                                          development plan and architect's perspective. The amusemnet park
                                                                          rides include but not limited to the following which may be upgraded
                                                                          and or replaced from time to time: Revolution (size: 6 meters
                                                                          diameter) Carousel (Size=18 meters diameter) Bump Car (Course
                                                                          Area = 108 sq.m.) Safari ride (Course Area 70 sq.m.) Octopus (size
                                                                          = 18 meters diameter) Circus Train (Course Area = 140 sq.m.)
                                                                          Bingorama (Area 108 sq.m.); 2) Parking lot and Multi-purpose
                                                                          amusement and recreational activities and support structures and
                                                                          amenities.

Clark Hauz Holdings Corporation (Lot 2)          Tourism Estate Project   Establishment and Operation of a pay parking lot with food chain       lot 2 bounded by Fields Avenue and M.A. Roxas             Philippines
                                                                          restaurants and a multilevel commercial building with stalls for       Highway, CFZ, Philippines
                                                                          general merchandise.
Clark     International   Recreation    Holding Tourism Estate Project    Office for its business of acquiring and owning another company that   2nd floor Club House B, Fontana Leisure Parks,         Philippines/China
corporation, Sub-lessee of Fontana Development                            is principally engaged in tourism or recreation business.              C.M. Recto Highway
Corporation
CLARK MAGIC HILL CORPORATION (New               Tourism Estate Project    Exclusively engaged in recreational park rides only.                   2,195.50 sq.m. (more or less) a portion of lot 1             Korea
Sublease Agreement with Clark Hauz Holdings                                                                                                      only bounded by Fields Avenue, M.A. Roxas
Corporation)                                                                                                                                     Highway, the PNR Railway right of way.




                                                                                                   Page 39
                ENTERPRISE                         TYPE OF PROJECT                                  PROJECTS                                                        ADDRESS                            Nationality

Clark    Resort  Travel    and    Amusement Tourism Estate Project      Management and operation of the Fontana Casino in behalf of the           2nd Floor Club House B, C.M. Recto Highway,        Philippines/Japan
Corporation,    Sub-lessee     of   Fontana                             Fontana Development Corporaiton, and to establish a business              CFZ, Philippines
Development Corporation                                                 office through which the company will manage the said casino and
                                                                        other gaming and amusement centers or facilities that it later on may
                                                                        lease or manage.
CLARK RIDING STABLE, INC. (New Lease          Tourism Estate Project    To provide horseback riding services to the A, B and upper C              9,497 sq.m., openspace & 705 sq.m. floor area,        Philippines
Agreement)                                                              residents and local tourists; Foreign visitors/tourists; visiting U.S.    Panday Pira corner Gil Puyat Avenue, Clark
                                                                        Forces Personnel; Former U.S. Airforce bases residents and their          Freeport Zone, Phils.
                                                                        families; Balikbayans;, develop a cowboy western town theme park
                                                                        attraction including such amenities as bar, restaurant, souvenir store,
                                                                        shows, and other related facilities
Clarky's Bike Land Cycle Center               Tourism Related Project   Bicycle and Skating Rink Station including Function Hall, Office and located Picnic Ground, CFZ, Pampanga                       Philippines
                                                                        comfort room.


Clearwater Country Club, Inc., Assignee of YI Tourism Related Project   1) Recreational club house with function rooms, restaurants, located along the Main Highway (Creekside                       Philippines/British
Leisure (Clark), Inc.                                                   specialty shops theater, indoor sports and recreational facilities; 2) Road) and bounded by Tandang Sora, H. Del
                                                                        Water theme park with swimming pools and lazy river; 3) Poolside Rosario, R. Magsaysay Sts., CFZ, Philippines
                                                                        bar and garden café; 4) Outdoor sports and recreational facilities; 5)
                                                                        Low to medium rise lodging facilities (garden apartments); 6) Mini-
                                                                        mall, specialty shops and convenience stores; 7) Any other
                                                                        recreational, leisure and/or ancillary facilties relating to the
                                                                        operation, maintenance and managemtn of the Country Club; 8) to
                                                                        engage in any activitiy necessary to pursue the committed functions
                                                                        including hte sale of shres for the member ship

CPR PALM RESORT CORPORATION (New              Tourism Estate Project    Development of hotel/villa, office, restaurant, health building (gym),    26,000 sq.m., open space bounded by E.                   Korea
Lease Agreement)                                                        swimming pool, utility building, fence, pathways, roads and parking       Aguinaldo St. & Abacan St., Clark Freeport
                                                                        lot.                                                                      Zone, Philippines.
Donggwang Construction Co., Ltd.              Tourism Estate Project    Exclusively to develop a tourism, recreational and leisure estate         300 hectares, more or less, suituated at the             Korea
                                                                        which will have the following amenities and support facilities; a.)       Clark Freeport Zone also known as the Subzone
                                                                        guard house, b.) retirement villas c.) playground d.) golf course e.)     Area.
                                                                        club house and casino f.) hotels g. ) swimming pool h.) picnic
                                                                        gardem l.) jogging and biking path j.) ecopark and k.) mechanical
                                                                        bldg.
Eight Integrated Development Corp.            Tourism Estate Project    Construct, manage and operate a hotel complex, complete with              along Manuel Roxas Highway, Ninoy Aquino              Philippines
                                                                        restaurants, cocktail lounges, disco and karaoke bars, specialty          Avenue and J. Villamor St., Clark Freeport Zone,
                                                                        stores, convenience and souvenir stores, entertainment and                Philippines
                                                                        amusement centers, theaters, swimming pools, sports and
                                                                        recreation centers, airline and travel agencies, limousine services,
                                                                        day-care centers, barber shops and beauty parlors, laundry and dry-
                                                                        cleaning centers, business function and convention centers, banks
                                                                        and all other similar or incident activities thereto (collectively, the
                                                                        "Hotel").
Fontana Development Corporation (Formerly: Tourism Estate Project       1) golf courses; 2) Country Club operations; 3) Corporate                 located at C.M. Recto Highway, Mabalacat Road,        Philippines
RN Development Corp.)                                                   Housing/Luxury village or 4) Chalets/Medium type facilities 5)            Perimeter Fence and Prince Balagtas Avenue,
                                                                        Casino 6) Hotel and Restaurants/Fastfood outlets; 7) Shopping Mall,       CFZ, Philippines
                                                                        Water Theme Park and other Parks, Resort Complex; and 8) Other
                                                                        related recreational facilities.


Fontana Resort and Country Club (FRCC), Tourism Estate Project          1) Golf courses; 2) Country Club operations; 3) Corporate located at C.M. Recto Highway, Mabalacat Road,                        Philippines
Assignee of RN Development Corp. (RNDC)                                 Housing/Luxury village or 4) Chalets/Medium type facilities 5) Perimeter Fence and Prince Balagtas Avenue,
                                                                        Casino; 6) Hotel and Restaurants/Fastfood outlets; 7) Shopping CFZ, Philippines
                                                                        Mall, Water Theme Park and other Parks, Resort Complex; and 8)
                                                                        Other Related Recreational Facilities.




                                                                                                 Page 39
                 ENTERPRISE                       TYPE OF PROJECT                                  PROJECTS                                                      ADDRESS                            Nationality

Green Canton Leisure Farms Corp. (New Lease Tourism Estate Project     To promote eco-tourism by bldg. Cottages, picnic areas swimming         296,000 sq.m. more or less, situated at sitio         Philippines
Agreement)                                                             pool and other outdoor sports. Production of hybrid yellow corn to be   Balacbac, San Vicente, Bamban, Tarlac, Sub-
                                                                       sold to piggery/poultry feed manufacturers. To build a Farm Resort      zone (Sacobia Area) within Clark Freeport Zone,
                                                                       for the production of organic green leafy vegetables for Clark main     Philippines
                                                                       Zone restaurant's consumption. Mud fish and tilapia to be harvested
                                                                       and delivered live in aquariums to nearby restaurants and
                                                                       consumers at the CFZ. To plant mangoes and other fruit bearing
                                                                       trees. To utilize mountain slopes by planting mahogany, narra,
                                                                       molave and other trees for future use as lumber/timber to be
                                                                       harvested after 20 to 25 years.

Holiday Inn Resort ClarkField                Tourism Estate Project    To engage in the operation of hotels and resorts.                       Wint Ave., Clark Freeport Zone, Philippines           Philippines

J & K Golf Training Center Company LTD.      Tourism Estate Project    1) Driving Range facilities including: double deck tees with Building 6004, bounded by Roxas Highway and                   Philippines/Korean
                                                                       computerized swing analyzers; netted fences; detachable compound Villamor Street, CFZ, Philippines
                                                                       lighting; Operation of physical fitness gym, spa and therapeutic
                                                                       facilities; 2) English language proficiency training and lodging
                                                                       facilities; 3) Operation of Golf Pro Shop; 4) Educational Tour; 5)
                                                                       Operation of specialty restaurants and entertainment facilities; 6)
                                                                       Operation of an International College (Bachelor of Science in
                                                                       Education major in English and Sports).

J & K Golf Training Center Company LTD. Tourism Estate Project         "For residences, Offices and Restaurant complex project" including: Bldgs 2436 to 2442, CFZ, Philippines                   Philippines/Korea
(Expansion)                                                            Fencing;     Playground;     Swimming     Pool;    Jacuzzi    bath;
                                                                       Pavillon/clubhouse; Parking; Putting Green; Cottage; Landscaping

J&K GOLF DEVELOPMENT GROUP, INC. (New        Tourism Estate Project    Establishment of Business Center, Restaurant, Residential villas and    21,842 sq.m., open space bounded by J.Abad         Korea/Philippines
Lease Agreement)                                                       other complimentary facilities.                                         Santos Ave., Rio Grande,Pampanga, and E
                                                                                                                                               Aguinaldo Streets, Clark Freeport Zone, Phils.

JB CRESTA CORPORATION (New Lease             Tourism Estate Project    Business center equipped with fax, internet, mini conference room,      512.62 sq.m. openspace & 342.38 sq.m. floor              Korea
Agreement)                                                             and photocopiers, business office, planning office, and a hub for       area of Bldg. 2084 located along Cardinal Santos
                                                                       future real estate development.                                         Street, Clark Freeport Zone, Phils.

JB CRESTA CORPORATION (New Lease             Tourism Estate Project    Development and construction of housing and leisure town which    12.3674 hectare,open space located along                       Korea
Agreement)                                                             includes villas, clubhouse, water park and subsidiary facilities. Abacan and Chico Street, Clark Freeport Zone,
                                                                                                                                         Philippines
Kilton Motor Corporation                     Tourism Estate Project    Establishment of an International Race Track for karting and drag Gil Puyat Ave., near Mabalacat Gate, CFZ,                   Philippines
                                                                       racing, and foreign participants.                                 Pampanga
KILTON MOTOR CORPORATION                     Tourism Estate Project    Expansion of the existing International Race Track.               13.7292 has. Open space (expansion area),                   Philippines
                                                                                                                                         located along Panday Pira Ave., Clark Freeport
                                                                                                                                         Zone, Philippines

MORNING CALM LEISURE ESTATE CORP. (New       Tourism Estate Project    Retirement Villege                                                      10,417 sq.m., open space, located along Rio              Korea
Lease Agreement)                                                                                                                               Grande de Pampanga St, Clark Freeport Zone,
                                                                                                                                               Philippines
New Wellbeing Spa City Corporation           Tourism Estate Project    Spa and Gift Shop with support amenities including shower room, pu Redwood Club House (N1870), Red Wood                          Korea
                                                                                                                                               Villas, CFZ, Pampanga
PHILIPPINE AMUSEMENT AND GAMING              Tourism Related Project   Operation of hotel and casino and other complementary facilities.       24,356.10 sq.m. floor area with 135,733 sq.m.,        Philippines
CORPORATION (PAGCOR) (New Lease                                                                                                                open space bounded by Creekside Road & M.A.
Agreement)                                                                                                                                     Roxas Highway, Clark Freeport Zone,
                                                                                                                                               Philippines.
RIKKO HOMES II, INC., (2nd Supplemental      Tourism Estate Project    Establishment of a multi purpose function hall, bar-restaurant, coffee 302 sq.m. Flr. area of Bldg. 2103 & 1,755 sq.m.        Philippines
Lease Agreement)                                                       shop, catering services and other related activities and a parking lot. open space, Clark Freeport Zone, Philippines.

Ritz Ville Corporation                       Tourism Estate Project    Exclusively for tourism related (luxurious retirement estate)           55,504 sq. m. open space located along Malago            Korea
                                                                                                                                               St., Clark Freeport Zone, Phils.




                                                                                                Page 39
                 ENTERPRISE                              TYPE OF PROJECT                                 PROJECTS                                                       ADDRESS                          Nationality

SA & E Homeland Realty Corporation (SA & Tourism Estate Project             Development of High-End Residential Resort Complex Project        123,593 sq. m., open space bounded by J. P.                 Philippines
EHRC)                                                                                                                                         Rizal and Jose Abad Santos St., CFZ, Phils.
Stotsenberg Leisure Park & Hotel Corporation Tourism Estate Project         Hotel and Restaurant Complex project including: Restaurant; Bldg 7320, 7321, 7322, 7323, 7327, 7325, 7326                     Philippines
                                                                            Lobby; Function Room; Swimming Pool; Spa; Utilities; Theme Parks; along Gil Puyat Ave. cor. Andres Soriano St.,
                                                                            Sports & Recreational Facilities; Recreational Complexes.         CFZ, Phils.

Unified Sports, Incorporated                       Tourism Estate Project   To establish, operate, conduct, maintain, engaged in and carry on Bldg 7815, Clark Freeport Zone, Phils.                      Philippines
                                                                            the business of promoting managing shooting and other sports
                                                                            development or tourism activities.
Widus International Leisure, Inc.                  Tourism Estate Project   To engage in and undertake, the business of establishing, Bldg 5400, M.A. Roxas Highway, CFZ, Phils.                             Korea
                                                                            operating, maintaining, and/or managing resorts, golf courses, social
                                                                            athletics or country clubs, lodges, hotels, inns, sports and
                                                                            entertainment not prohibited by law, and other allied businesses, as
                                                                            well as any services and facilities incident thereto as per attached
                                                                            Site Development Plan (Annex A of Lease Agreement)

Widus International Leisure, Inc.                  Tourism Estate Project   Water Theme Park, Convention Center, Second Tower                          M.A. Roxas Highway, CFZ, Phils.                        Korea
YI Leisure (Clark), Inc.                           Tourism Estate Project   1). Recreational Club House with function rooms, restaurants,              Main Highway (Creekside Road) and bounded         Philippines/UK
                                                                            specialty shops, theater, indoor sports and recreational facilities; 2).   by Tandang Sora, H. Del Rosario, R. Magsaysay
                                                                            Water theme park with swimming pools and lazy river; 3). Poolside          Streets, CFZ, Phils.
UTILITY                                                                     bar and garden café; 4) Outdoor sports and recreational facilities; 5)
Angeles Electric Corporation*                      Untility                 Operation of its sub-station (for Diamante Sub-Station and Milenyo). M.A. Roxas Highway, fronting the              Clark      Philippines
                                                                                                                                                 Cemetery, Clark Freeport Zone, Phils.
Clark Electric Distribution Corporation            Utility                  to engage in, carry on and conduct the business of developing, CSEZ, Clark Field, Phils.                                      Philippines
                                                                            financing, constructing, rehabilitating, operating, maintaining and
                                                                            managing electric power systems heating plants, transmission and
                                                                            distribution systems, among others, exclusively to all persons,
                                                                            concerns, enterprises, or buildings within the CSEZ; to collect,
                                                                            demand and receive revenues, moneys, charges and other
                                                                            consideration from the aforesaid persons/clients for such supplies
                                                                            and services sold and rendered.
Clark Pipeline and Depot Co., Inc.                 Utility                  To engage in the rehabilitation, reconstruction, repair, renovation, CFZ, Philippines                                         Philippines
                                                                            maintenance, direction and operation of the Liquid Fuel Pipeline
                                                                            System between the Petroleum, Oil and Lubricant Facility at the
                                                                            Subic Bay Freeport Zone and the Petroleum, Oil and Lubricant
                                                                            Facility at the CSEZ in the Philippines, including all existing
                                                                            petroleum storage tanks pipelines, pump houses, control valves,
                                                                            refueling equipment, buildings, parts, appliances, appurtenances,
                                                                            accessories and related miscellaneous equipment located at the
                                                                            Clark Freeport Zone, Pampanga
Clark Water Corporation         (Formerly:   Clark Utility                  Operation and Maintenance of Water and Sewage System within the Bicentennial Hills, CFZ, Philippines                       Philippines/France
Vivendi Water Corporation)                                                  CSEZ, with the following rights as set out in the Concession
                                                                            Agreement dated March 16, 2000: a). Finance, design and
                                                                            construct the New Facilities b). Manage, exclusively possess,
                                                                            occupy, operate, repair, maintain, decommission and refurbish the
                                                                            Existing Facilities, except for the private deepwells set out in Table
                                                                            4.1b. of Schedule 4 (Existing Facilities) the negotiations for the
                                                                            acquisition and control of which shall be the sole responsibility and
                                                                            for the account of the Company, and manage, own, operate, repair,
                                                                            maintain, decommission and refurbish the New Facilities; c). Treat
                                                                            Raw Water and Waste Water in CSEZ; d). Provide and manage the
                                                                            Services; e). Bill and collect payment from the Customers for the
                                                                            Services; and f). Extract Raw Water exclusively from all sources of
                                                                            Raw Water including all catchment areas, watersheds, springs, wells
                                                                            and reservoirs in CSEZ free of charge by CDC.




                                                                                                     Page 39
                ENTERPRISE                            TYPE OF PROJECT                             PROJECTS                                                 ADDRESS                          Nationality

Globe Telecom, Inc.                             Utility                 Cellular site (self support tower) for antennae and other located: on a portion at the top of Lily Hill, CFZ,       Philippines
                                                                        telecommunication, electronic and computer equipment or device at Phils.
                                                                        suitable designated areas within the Leased Premises.

Metro Clark Waste Management          (MCWM) Utiltiy                    Integrated Waste Management Center                               Kalangitan Resettlement Area, CFZ, Sub-Zone,       Philippines
Corporation                                                                                                                              Capas, Tarlac, Phils.
Pilipino Telephone Corporation                  Utility                 To install, maintain and operate a cellular base station for the At the back of Bldg 2126, CFZ, Phils.              Philippines
                                                                        operations of its cellular telephone system.
PLDT CLARK TELECOM, INC. (Formerly Clark Utility                        To engage in the provision of telecommunications and related CFZ, Philippines                                       Philippines
Telecommunications Company, Inc.)                                       services and establishment, operation and maintenance of
                                                                        telecommunications facilities and networks in the CSEZ.
PTT Philippines Trading Corporation [Formerly: Utility                  Distributor of petroleum products within CSEZ                    located portion of Bldg 7585, CFZ, Phils.          Philippines
Subic Bay Fuels Co., Inc.], (TSA between CPDC
& SBFCI)
SMART COMMUNICATION, INC., Lessee of Utility                            to use the leased property for the DOT-SMART "I Love Philippines arrival lobby (former DOT Booth location) of the   Philippines
Clark International Airport Corporation                                 Biyahe Na!" booth (a joint venture of DOT and SMART) to cater to DMIA_IPT, CFZ
                                                                        the DMIA passengers' travel inforamtion requirements and other
                                                                        tourism related queries only.
GRAND TOTAL




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