Resignation Notice

Please see announcement from Sol. Thanks

******************************


It is with regret that I announce the resignation of Sanky Quinto from the Private Equity team effective December 8, 2005.

Sanky joined the team last June 2004, initially as an Asian Research Analyst. However, when Portfolio Analysis work was migrated to Manila in September of the same year, Sanky was transferred to this newly-formed group after showing his potential as an achiever and his eagerness to learn more about the work. His enthusiasm and friendly attitude will surely be missed by the whole team.

Please join me in thanking Sanky for all his contributions to the team and in wishing him the best of luck in all his future endeavors.


Sol Flores
Research Manager - Private Equity
Thomson Venture Economics