MIASCOR AVIATION SERVICES’ STATEMENT

We sincerely regret the recent incident at Clark International Airport and we
again extend our sincere apologies to Mr. Jovenil Delacruz. MIASCOR
Management immediately reached out to him upon learning about this
unfortunate incident and we have already reached an amicable settlement. The
Company, together with airport authorities, also acted very quickly and placed
those allegedly involved under preventive suspension. They have since been
terminated and criminal and administrative charges have been filed against them.

We would like to stress that we do not tolerate this type of behavior from any of
our employees. MIASCOR is committed to conducting its business with the
highest standards of compliance and ethics. And every employee is expected to
demonstrate professionalism, honesty and integrity.

We shall formally issue an appeal to the President to kindly reconsider his
position on behalf of our almost 4,000 regular employees and their families who
will be affected. It is unfortunate that the actions of six erring employees in Clark
International Airport have negatively impacted the Company.

The recent incident does not define what MIASCOR stands for and how it
operates. MIASCOR has been in operations since 1974 and has presence in
several key airports in the country, including NAIA, providing aviation services.Many of our customers and the traveling public can attest to our service
excellence and through the years the Company has been a major contributor to
the growth of the country’s aviation and tourism industry.

The Company shall do everything it can to remedy the situation.

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