Philippine Seven Corp. announced resignation of Mr. Chien-Nan Hsieh and Mr. Chung- Jen Hsu as a director due to their retirement from the parent company while Mr. Yen-Sen Yang's resignation is pursuant to the directive of the parent company to assign Mr. Yang to another subsidiary. The resignation is effective as of November 13, 2012. The chairman accepted the resignation of Mr. Yen-Sen Yang as Vice chairman and chairman of
the compensation committee, effective also on the same date.