MARC PROPERTIES CORPORATION

RJEN transferred to the 7th floor of the 1414 Building on Roxas Boulevard, Ermita, Manila. By this time, VIRJEN was determined to have its own Building that could satisfy the needs of an expanding business. In 1981, Mr. Marquez the agreed to purchase a property located at 1971 Taft Avenue, Malate, Manila, consisting of 1,050 square meters with a pre-war two-storey house, which was renovated as an office. With the encouragement and financial support from Mr. Kenichi Iwakawa of Vermillion Overseas Management Co., Ltd. (VOM) and Mr. Takiguchi of Kobe Kisen Kaisha, the Marquez Family drew enough courage to embark on the construction of an eight-storey building that can accommodate the three (3) companies, including an affiliated company, the Veritas Maritime Corporation, which was then in another building. On June 22, 1992, MARC PROPERTIES CORPORATION as thus established to supply this need. The construction of an eight-storey building on the same site was started in April 1993. When the building was inaugurated on November 19, 1994, it was named MARC BUILDING. On November 24, 1997, MARC decided to purchase a portion of the adjacent lot on Taft Avenue corner San Andres Street from the Philippine Development & Industrial Corporation, consisting of 1,030 square meters to put up another building. On April 22, 1999, MARC signed a Contract with SUMMA KUMAGAI, INC. for the construction of a Nineteen-storey Building, to be called MARC 2000 TOWER. This edifice is expected to be ready for occupancy and inaugurated by November 19, 2000, to coincide with the 80th birthday of Mr. On August 3, 1999, MARC again decided to purchase the remaining portion of the PDIC property, which MARC purchased in 1997, consisting of 730.90 square meters. According to present plans, this additional lot will be used as an additional parking space for the occupants of the MARC 2000 TOWER.