statement of Chief

The MWSS RegulatoryOffice, through its legal counsel, the Office of the Government Corporate Counsel (OGCC), received the Arbitral Award, including a copy of the Dissenting Opinion today, 7 January 2015 at around 2:20 in the afternoon. The MWSS Regulatory Office and the OGCC will study the document, although they have initially noted that the figures appearing in the Philippine Stock Exchange Disclosures of both MPIC and DMCI, majority shareholders of Maynilad Water Services, Inc., are different from the figures appearing in the Award. MWSS will clarify this matter with the Appeals Panel.