4/F 20 Lansbergh Place, Tomas Morato Ave. cor. Scout Castor St., Quezon City, Philippines Telephone: 3733038 Fax: 3738491 Email: info@h2o.ph

13 June 2012

PHILIPPINE STOCK EXCHANGE, INC.3rd Floor, Philippine Stock Exchange PlazaAyala Triangle, Ayala AvenueMakati City, Metro Manila

Attention: Ms. Janet A. EncarnacionHead, Disclosure Department

Gentlemen:

Please be advised that, during the annual stockholders’ meeting of Calapan Ventures, Inc. (“Corporation”)held today, the following were elected as members of the Board of Directors of the Corporation for the year 2012-2013 to hold office as such until their successors shall have been duly elected and qualified:

Jolly L. Ting - DirectorLourdes G. Ting - DirectorNanette T. Ongcarranceja - DirectorOrtrud T. Yao - DirectorRodolfo L. See - DirectorDexter E. Quintana - Independent DirectorErnesto S. Isla - Independent Director

Further, during the same meeting, the stockholders approved the audited financial statements of theCorporation as of year-end 2011, as well as the re-appointment of Constantino Guadalquiver and Co. as theCorporation’s external auditor for the year 2012.

In the organizational meeting of the Board of Directors held after the stockholders’ meeting, the followingpersons were elected officers of the Corporation for the year 2012-2013 to serve as such until their successorsshall have been duly elected and qualified:

Jolly L. Ting - Chairman and Chief Executive OfficerNanette T. Ongcarranceja - President and Chief Operating OfficerLourdes G. Ting - Vice PresidentOrtrud T. Yao - Secretary/Treasurer/Chief Finance Officer and

Compliance Officer

4/F 20 Lansbergh Place, Tomas Morato Ave. cor. Scout Castor St., Quezon City, Philippines Telephone: 3733038 Fax: 3738491 Email: info@h2o.ph

Also, during the aforesaid organizational meeting of the Board, the following directors were elected asmembers of the various Committees for the year 2012-2013 to serve as such until their successors shall have beenduly elected and qualified:

Executive Committee

1. Jolly L. Ting (Chairman)2. Nanette T. Ongcarranceja3. Ortrud T. Yao

Audit and Risk Committee

1. Dexter E. Quintana (Chairman)2. Rodolfo L. See3. Ortrud T. Yao

Nomination Committee

1. Lourdes G. Ting (Chairman)2. Dexter E. Quintana3. Nanette T. Ongcarranceja

Compensation and Remuneration Committee

1. Nanette T. Ongcarranceja (Chairman)2. Ortrud T. Yao3. Ernesto S. Isla

Thank you for your kind attention.

Very truly yours,

ORTRUD T. YAOInformation Officer