OVERVIEW OF THE ACRRA

ACRRA stands for ALLAN, CONRAD, ROGER, RODEL, ARIEL Realty Developers. A corporation duly organized and existing in accordance with Philippine Laws. Our Principal Office and registered mailing address is at __________, Tacloban City. ACRRA started its business operations in 1995 as a medium size corporation. On October of the same year, a new set of incorporators assumed the operations of ACRRA, consequently infusing a new management group with a defined vision and mission and a commitment to excellent service. Significantly, it added more capital to its investment to sustain the expected growth on demands of housing.

The company is engaged in various real estate development projects most particularly on affordable housing projects under BP 220 & PD 957. ACRRA is a small firm with project site areas that ranges between 1 - 4 hectares so far since the company started its operations 16 years ago. During the 16 years of the company operation it has sold over a thousand house & lot units in 6 various subdivision sites. It was also during its 16 years of business that it has established strong tie-up with commercial banks and government financial institutions. These firms have recognized the companys effort to continually provide affordable and decent houses for all families at various income level and home preferences. MRDC was recognized as the MOST OUTSTANDING DEVELOPER in the VISAYAS 2003, received a CERTIFICATE OF APPRECIATION for its invaluable service and its active partnership with PagIBIG FUND and just recently was recognized as the Most Viable Realty Business in Eastern Visayas. ACRRA is a corporation established by group of investors who were members of the Asian Development Foundation Alumni. As a corporation, it is managed by Allan C. Alota as its overall Chief Executive Officer. One of its founding members Rodel Catapal served as the executive VP, his only daughter Diane is the corporate secretary and at the same time the treasurer, his second son Joseph and the Drs wife Connie are the board directors. Mr. David H. Blanco, the youngest brother of Dr. Leo is the Chief Operations Officer for all the projects in region 8 while his daughter Diane

aside from being the secretary and treasurer heads operations in the Cebu Projects. MRDC has been a partner of Pag-IBIG Fund since it started way back 1993, as a matter of fact, RJD Homes in Manlurip, San Jose, its first housing project has been a recipient of Pag-IBIG Developmental Loan and the company was able to render its full payment prior to its maturity. Another project under developmental loan is the recently finished one, the Villa Rita Subdivision in San Jose, Tacloban City. Currently the latest project of the company located at Brgy. Guindapunan, Palo, Leyte, the St. Scholasticas Village Phase 4 has also a pending application for developmental loan. This is an extension project from the earlier Phase 1 & Phase 2 which the company had ventured jointly with the Benedictine Sisters as a silent partner and investor who owned a portion of the whole project area. The project name of ST. SCHOLASTICAS VILLAGE was Dr. Leo H. Blancos idea of extending honor to the partnership with the Benedictine Sisters which friendship started during his early years as a practicing pediatrician in St. Pauls Hospital which the Benedictines operate until now. A new school in Tacloban City opened during that time by the Benedictine Sisters with the same name so the good doctor suggested to, name it that same way and it was carried on. The partnership continues up to phase 2 which project area acquired by both parties jointly along the way. The acquisition of adjacent properties by the two parties continued until they acquired a 2 hectare land just next to phase 1 & 2 and decided to develop its phase 3. That same time, the company started to expand its operations from other sites which MRDC solely owned, the Villa Rita in San Jose, Tacloban City, Villa Cesar in Sagkahan, Carigara, Leyte and another site acquired by the company which finally opened its door to Cebu expansions the Villa Purita in Minglanilla, Cebu. Phase 3 now became a less priority considering the fact that almost 500 house & lot units were turned-over to Pag-IBIG FUND and the market might not be able to keep up in that same site and that other sites might be more feasible to start development. The Benedictine Sisters likewise got the same notion and was likewise pushing thru with other priority projects and concerns. And so they decided to split the project site of phase 3 into 2 projects sites at 1 hectare each and phase 4 came in to being. That way each party can move on at their chosen speed, method of construction and schedules. The Benedictine Sisters owned phase 3 and MRDC owned phase 4. The Phase 3 with their current project operators

decided to change project name and was granted by HLURB while MRDC continues to use the same Project name of St. Scholasticas Village Phase 4. The St. Scholasticas Village Phase 4 is currently on-going at 38.5 % completion on its land development & house construction activities. The company is positive that the project will be finished on time as scheduled mid to late next year. With the help of developmental loan if granted as soon as possible the schedule will probably be earlier than programmed, hopefully.