President Launches Corporate Theme Newly-elected President of Cuervo Appraisers, Inc., Ms. Charito Cole-Alfaro, launched during the company’ s annual Christmas party held last December 21, 2007 CAI’ s 2008 Corporate Theme: Rethink & Revolutionize –48 at 28 in 2008. Ms. Alfaro challenged everyone to achieve in a united and concerted effort the sales target of P48.0 Million for this year 2008, the 28th year of Cuervo Appraisers in the appraisal industry. Since this is the first time CAI adopted a Corporate Theme, both the Management and the staff are excitedly looking forward to a productive and profitable year ahead. In fact, last January 16, Ms. Alfaro proudly rang the Company Bell to announce to all and sundry that our Marketing Division, led by its Manager, Mr. Jun Ignacio, hit the first P 2.0Million mark in closings for the year 2008! The President herself made good her promise to gift Marketing with a cake to celebrate this momentous occasion. Marketing, for their part, generously shared their laurels with all the other CAI employees. “Quality only happens when you care enough to do your best.” Effective January 1, 2008, the Real Estate Group has been split into two sub-groups, with Group A under the helm of Engr. Hernando Gozon, Jr. as its Group Manager and Group B temporarily being handled by Engr. Amando J. Chua, concurrent with his duties as overall Department Manager of the Real Estate Department, pending the appointment of a Manager for Group B. This re-organization, based on a proposed structure by Engr. Chua and ably assisted by Engr. Gozon, is being implemented in line with CAI’ s concerted efforts to promote efficiency and productivity across the entire organization by rethinking business processes. Group A will handle special and individual accounts. It will be manned by Junior Appraisers, MRIndaya, VMCelzo, Jr., JDMira and ABTropia. Group B, composed of Junior Appraisers ORSamoy, JAEdañol and EDBalatico, will take charge of corporations. All Managers and staff are enjoined to give their full support and cooperation to the Real Estate Department. Press Releases Published Press releases were published in well-circulated dailies like Business World, Manila Bulletin, Philippine Daily Inquirer and Philippine Star to inform the public of CAI’ s new set of officers, including the assumption of Ms. Charito Cole-Alfaro as the new President of CAI and the promotion of Mr. Arthur A. Pablico as the new Finance and Admin Head. These announcements also serve to let our clients and prospective markets know that CAI is here to stay with a renewed and revitalized management. This first set of press releases heralds a more aggressive thrust in public relations in order to keep our market abreast with the developments in our Company. January 30, 2008 CAI Has New Officers In a special meeting of stockholders last December 17, 2007, the following were elected as Directors to the Board of Cuervo Appraisers, Inc. – Ramon C. F. Cuervo III, Charito Cole-Alfaro, Josemari C. Cuervo, Peter Weldon, Javier Jose Calero, Antonio G. Marty, Bernardo M. Villegas, Maria Teresa C. Cuervo and Montserrat Cuervo- Trigo. The organizational meeting of the Board of Directors ensued and the following officers were appointed: Chairman Emeritus – Ramon C. F. Cuervo III; President & COO – Charito Cole- Alfaro; Vice Chairman & CEO – Josemari C. Cuervo; Treasurer – Ma. Teresa C. Cuervo; Asst. Treasurer – Montserrat Cuervo-Trigo; Corporate Secretary – Antonio V. F. Gregorio III; and Asst. Corporate Secretary – Venus L. Gregorio. Under the helm of our new set of officers, valuation projects for clients like Belle Corporation, Gustillo Group, Rural Bank of Caloocan, Davao Light and VECO were clinched with the onset of 2008. Everyone is enjoined to continue giving their all- out support to the new set of officers who have made it their goal to steer Cuervo Appraisers, Inc. into a better and more dynamic organization. This is a regular publication of Cuervo Appraisers newsbits, reminders and important notices. ISSUE I