WATERFRONT PHILIPPINES, INCORPORATED - Cebu City

Waterfront Philippines, Inc. (WPI) was registered with the Securities and Exchange Commission (SEC) on September 23, 1994 as an investment holding company for hotel, leisure, and tourism businesses. WPI's significant investments consist of Waterfront Cebu City Casino Hotel, Inc. in Cebu City, Waterfront Mactan Casino Hotel, Inc. in Mactan, Cebu, and Davao Insular Hotel Company, Inc. in Davao City. WPI also has a controlling interest over ACESITE (Phils.) Hotel Corporation, which operates under the trade name Manila Pavilion Hotel, now a part of the Waterfront group of hotels. WPI's other subsidiaries are Waterfront Promotions Limited, Waterfront Entertainment Corporation, Mayo Bonanza, Inc., Grand Ilocandia Resort Development, Inc., Waterfront Food Concepts, Inc., Waterfront Management Corporation, and W Citigyms and Wellness, Inc. Source: SEC Form 17-A (2008)