Board of Directors

The overall management and supervision of FELI is undertaken by the Board of Directors. Currently, the Board consists of seven members, where one (1) independent director has been elected. All of the directors were elected at the Company’s stockholders meeting and will hold office until their successors have been duly elected and qualified.

The following are the incumbent Directors of the Company as of 30 June 2007:

Robert John L. Sobrepeña
Board Chairman & CEO

Ferdinand T. Santos
Co-Chairman, President

Noel M. Cariño
Vice Chairman

Enrique A. Sobrepeña
Director

Alice Odchigue-Bondoc
Director

Rafael R. Perez de Tagle, Jr.
Director

Ruben R. Payumo
Independent Director

Senior Management

The Company’s executive officers in addition to its executive directors listed above as of 30 June 2007 are as follows:

Roberto S. Roco
SVP & Chief Finance Officer

Nicholas A. Aquino
SVP for LEGAL - Permit and Government Compliance

Solita Santos-Alcantara
VP for Systems & Internal Audit

Roy V. Movido
VP for Labor & Litigation

Josephine Cecilia B. Ng
VP for Human Resources

Gilbert Raymund T. Reyes
Corporate Secretary