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Press Releases

17

January 2006

AYALA SELLS AND TRANSFERS STAKE IN AON PHILIPPINES

Ayala Corporation has sold and transferred all its 50,600 outstanding shares of Aon Philippines Inc. (formerly Ayala Aon Risk Services, Inc.) in favor of Aon Holdings B. V. for the aggregate purchase price of P65.7 million. The above information was submitted on January 17, 2006 by Ayala managing director for corporate governance and legal affairs Renato O. Marzan in compliance with the requirements of the Securities and Exchange Commission and the Philippine Stock Exchange.