& PLDT

January 11, 2013
Philippine Stock Exchange
3/F Philippine Stock Exchange Plaza
Ayala Triangle, Ayala Avenue
Makati City
Attention: Ms. Janet A. Encarnacion

Head, Disclosure Department

Gentlemen:
We referto your letter dated January 11, 2013 requesting for darification and/or confirmation of the news artide entitled "CVC said to be in talks to buy PLDT unit" posted in the BusinessWorld Online on January 1O, 2013. The artide reported in part that:

"HONG KONG - Private equity firm CVC is in exclusive talks to buy a majority stake in SPi Global Holdings, a business outsourcing unit of Philippine Long Distance Telephone Co. (PLOT), for about $320 million inc/uding debt, a source familiar with the matter told Reuters."

In our disdosure to the Exchange on 19 December 2012, we stated that PLDT was finalizing a transaction to sell 80% of SPi Global Holdings, lnc., and that the appropriate disdosure would be made as soon as negotiations were conduded.
As such negotiations are stili ongoing and as we continue to be bound by a confidentiality agreement, we are not in a position to make any comments on the article at this time.
Respectfully yours,

1} c(;.. {

MA. LOURDES C. RAUSA-CHAN

Corporale Secretary

Generai Office P.O. Box 2148 Makati City, Philìppines PLD1
distributed by