Liberty Flour Mills, Inc. announced that William Carlos Uy was elected as Chairman Emeritus. The Board also decided that the Audit Committee shall also carry out the functions of the Risk Oversight committee provided in the Code of Corporate Governance. Philip S. Huang and Willy G. Ng are new directors of the Corporation.

Below are their qualification and business experience the past five years. *Philip S. Huang. He is a nominee for independent directorship of the Company.

He is a director in Unno Commercial Enterprises, Inc., and Unno Resource Corporation. He also serves as the president for Upson Resources Corporation. He graduated from the De La Salle University in 1977 with a degree in Bachelor of Science in Commence, and holds a Masters in Business Management from the Asian Institute of Management.

Willy G. Ng. He is a nominee for directorship in the Company. He is currently a Senior Vice President, Institutional Banking Group of Asia United Bank.

He is a senior banking executive with almost 50 years of experience in banking and lending operations. He holds a degree from the De Lasalle University in Bachelors of Science in Industrial Engineering, and a Masters of Business Administration from the Ateneo De Manila University.