A Brown Company, Inc.

On October 1, 1992, the Securities and Exchange Commission (SEC)approved the amended Articles of Incorporation and By-laws of Bendana Brown Pizarro & Associates, Inc. This approval changed the parent company's name to Epic Holdings Corporation.

On June 25, 1993, SEC approved the planned merger of Brown Chemical Corporation and Brown Chemical Sales Corporation. The entire assets and liabilities of these companies were transferred to and absorbed by Epic Holdings Corporation.

On July 1, 1993, SEC approved the change of name of Epic Holdings to
A Brown Company, Inc. (ABCI), which started operating in Cagayan de Oro City in 1994. ABCI was publicly listed in the Philippine Stock Exchange in 1997.

A track record of years in the industry proves ABCI's commitment to develop excellent quality products and services. It is known in Cagayan de Oro City as the owner and developer of Xavier Estates -- Mindanao's most successful Class A residential subdivision. Xavier Estates has complete road network, sodium street lamps, centralized water system, telephone line connections, and solid perimeter walls with guard towers. It is a mixed-use, nature-themed, well-planned integrated community.

ABCI is also the owner and manager Xavier Sports & Country Club -- Mindanao's largest and most modern. It has a board room, function rooms, bar lounge, party room and a 1, 800-capacity convention hall. Sports facilities include four indoor and outdoor tennis courts, eight-lane, 10-pin computerized bowling center, adult and kiddie swimming pools, game room for billiards and darts, fitness gym with sauna and jacuzzi, and the Annabelle's Restaurant.