CEBU LEISURE COMPANY, INC. - 100%

• 1994  formed as a joint venture company of Fun Corporation and CHI
• 1997  Fun Corporation sold its shares to CHI

CEBU BUSINESS PARK THEATERS MANAGEMENT, INC. - 100%

• registered with the Securities and Exchange Commission to engage in all aspects of the theatrical and cinematographic entertainment business, including theater management and other related undertakings

CEBU PROPERTY VENTURES AND DEVELOPMENT CORPORATION - 76%

• 1990  registered with the Securities and Exchange Commission on August 2
• owner and developer of Cebu I.T. Park

ASIAN I-OFFICE PROPERTIES, INC. - 40%

• a partnership between CPVDC and Ayala Land, Inc.
• a special purpose vehicle that engages in real estate development

CEBU INSULAR HOTEL COMPANY, INC. - 37%

• 1995  incorporated on April 6
• owner and developer of Cebu City Marriott Hotel

SOLINEA - 35%

• owner and developer of Solinea Towers at Cebu Business Park
• 35% CHI
• 65% Alveo Land Corporation