D&L Industries Update on Chemrez, Inc.

Quezon-(PHStocks)-As of 23 November 2015, our reports indicate that fumes have fully dissipated and the odor has subsided dramatically in the surrounding areas.

There is an ongoing investigation into the cause of the fumes that originated from the plant on Calle Industria, Bagumbayan. Initial findings suggest that the fumes emanated from the vents of a storage tank and that the fumes were caused by heat generated by polymerization. During the polymerization, fumes came out of the vapor relief valve installed on the roof of the storage tank

The situation has been contained and local authorities have deemed the immediate vicinity safe. Further, the Department of Health* has stated the fumes are not hazardous at the level of dilution.

The Company expects a partial resumption of operations today, 24 November, and a full resumption on Thursday, 26 November.

As previously disclosed, the suspension of operations is likely to have negligible impact on sales of D&L Industries.

* http://www.gmanetwork.com/news/story/545485/news/metro/doh-chemical-thatleaked-not-that-hazardous-to-health