Officers and directors Jaime Augusto Zobel de Ayala II Chairman of the Board Aurelio R.

Montinola III President, Director Gil A. Buenaventura Chief Operating Officer, Senior Executive Vice President Natividad N. Alejo Senior Vice President, Head - Consumer Banking Group Michael D. Calleja Senior Vice President - Financial Markets Group Cesario A. De Leon III Senior Vice President, Head - The Risk Management Office Raul D. Dimayuga Senior Vice President - Overseas Banking & Channel Services Group Georgina O. Espaldon Senior Vice President, Division Head of Centralized Branch Operations (CBOS) Ma. Cristina L. Go Senior Vice President - Card Banking & CRM Group Maria Theresa M. Javier Senior Vice President - Asset Management & Trust Group, Trust Officer ANECITA B DEL MUNDO COLLECTOR HEAD ELECEO P DOROTEO REMMEDIAL UNIT HEAD

MARIA MITZI WENCES LAO AGENCY MANAGER MARIA EDEN B DIZON LEGAL OFFICER MARIA MARY GRACE COROS AGENCY COORDINATOR

Handling of complaints.

Banks & credit card companies shall give cardholders at least twenty (20) calendar days from statement date to examine charges posted in his/her statement of account and; inform the bank/subsidiary credit card companies in writing of any billing error or discrepancy. Within ten (10) calendar days from receipt of such written notice, the bank & credit card company shall send a written acknowledgement to the cardholder unless the action required is taken within such ten-day period. Not later than two (2) billing cycles or two (2) months but shall not exceed ninety (90) days after receipt of the notice and prior to taking any action to collect the contested amount, or any part thereof, shall make appropriate corrections in their records and/or; send a written explanation or clarification to the cardholder after conducting an investigation.

Nothing in this Subsection shall be construed to prohibit any action by the bank/subsidiary credit card company to collect any amount which has not been indicated by the cardholder to contain a billing error or apply against the credit limit of the cardholder the amount indicated to be in error.

Circular 454 Series of 2004

Amendment of Circular No. 398, Series of 2003 governing the credit card operations of banks and subsidiary credit card companies

Unfair Collection Practices

Banks, subsidiary/affiliate credit card companies, collection agencies, counsels and other agents may resort to all reasonable and legally permissible means to collect amounts due them under the credit card agreement: In the exercise of their rights and performance of duties, they must observe good faith and reasonable conduct

Refrain from engaging in unscrupulous or untoward acts.

The following conduct is a violation of this Subsection:

1.

use or threat of violence or other criminal means to harm the physical person, reputation, or property of any person; use of obscenities, insults, or profane language which amount to a criminal act or offense under applicable laws;

2.

3.

disclosure of the names of credit cardholders who allegedly refuse to pay debts, except as allowed under Subsec. X320.9 and 4301N.9; threat to take any action that cannot legally be taken; communicating or threat to communicate to any person credit information which is known to be false, including failure to communicate that a debt is being disputed; any false representation or deceptive means to collect or attempt to collect any debt or to obtain information concerning a cardholder;

4.

5.

6.

7. making contact at unreasonable/inconvenient

times or hours which shall be defined as contact before 6:00 A.M. or after 10:00 P.M., UNLESS the account is past due for more than sixty (60) days or the cardholder has given permission or said times are the only reasonable or convenient opportunities for contact.

CIRCULAR 702 Series of 2010

Amended Regulations to Enhance Consumer Protection in the Credit Card Operations of Banks and Their Subsidiary or Affiliate Credit Card Companies

Banks/quasi banks and their subsidiary affiliate credit card companies shall inform their cardholders in writing: Endorsement of their account to a collection agency/agent, Endorsement of their account from one collection agency/agent to another, at least seven (7) days prior to the actual endorsement. Notification shall include the full name of the collection agency and its contact details Ensure that personnel handling the collection of accounts, whether these are in-house collectors, or third party collection agents, shall disclose his/her full name/true identity to the cardholder.