STA. LUCIA LAND, INC.

The year 2007 ushered in new hope and expectations for Sta. Lucia Land, Inc. as the company took control of a listed company named Zipporah Realty Holding, Incorporated. The stock market phenomenon opened-up a lot of opportunities for the property market segment of the economy and foreign investments have grown and invested heavily in the property and mining sector. The PSE reached it’s peak as the stock market index attained an all time high of more than 3,800 points.

With these developments, Sta. Lucia Land has outlined strategies to reinvent and reinvigorate the company’s operation and be an active player in the real property sector. The Board in it’s June 15, 2007 meeting approved the following changes which were implemented as part of the buy-in of Sta. Lucia Realty & Development, Inc. such as:

• Change in the corporate name to Sta. Lucia Land, Inc
• Change in corporate address to Cainta, Rizal
• Increase in authorized capital stock to a maximum of P21B
• Infusion of Real Estate assets up to a maximum of P15B by Sta. Lucia Realty
• Reduction in the members of the Board to 9
• Appointment of new set of Officers to carry-out the business of the company

The infusion of assets by Sta. Lucia Realty and subsequent increase in capital stock will addressed the deficit in it’s capital structure. Sta. Lucia East Grand Mall formed part of the asset infused. Various joint venture projects are to be infused into Sta. Lucia Land by its main shareholder, Sta. Lucia. Realty & Development, Inc.

Ebedev, Inc., our former subsidiary which developed Westmont Village in Sucat has been disposed to Beziers Holdings, Inc. last June 1, 2007. The Ayala Property was sold to Alphaland since the property location does not fit with the general directions of the company’s business.