Granting of the transfer of banking licence of EQUITABLE PCI BANK, INC. to BANCO DE ORO UNIVERSAL BANK

The Hong Kong Monetary Authority announced today (Friday) that it has granted a transfer of the banking licence of EQUITABLE PCI BANK, INC. (EPCI) to BANCO DE ORO UNIVERSAL BANK (BDO), now known as BANCO DE ORO - EPCI, INC., under the Banking Ordinance. The transfer took effect on 31 May 2007, the date on which the merger of the two banks became effective in the Philippines.

The transfer of the banking licence enables BANCO DE ORO - EPCI, INC. to take up and continue the existing business of the Hong Kong Branch of EPCI.

Following the transfer, the total number of licensed banks in Hong Kong remains unchanged at 139.

For further enquiries, please contact:
Sara Yip, Manager (Press), at 2878 8246 or
Hing-Fung Wong, Officer (Press), at 2878 1802

Hong Kong Monetary Authority
1 June 2007