URC Board of Directors Approves Extension of Share Buy-back Program

The Board of Directors of Universal Robina Corp. (PSE: URC) approved the extension of the share buyback program of the company. This share buyback program shall also involve up to PhP2.5 billion worth of the company’s common shares, representing approximately 3.41% of the company’s current market capitalization.

The share buyback program shall have the same terms and conditions as the share buyback program approved by the Board of Directors of the company on November 13, 2007.

Lance Y. Gokongwei, President and Chief Operating Officer; Bach Johann M. Sebastian, Senior Vice President for Corporate Planning; and Aldrich T. Javellana, Senior Investment Officer, have been authorized by the Board of Directors to supervise the implementation of the share buyback program.