The attached press release was released today in Manila by Metro Pacific Investments Corporation ("MPIC"), in which First Pacific Group holds an economic interest of approximately 55.6%.

MPIC is a Philippine-based, publicly-listed, investment and management company with holdings in water distribution, tollroads, power distribution, healthcare and port development. Further information on MPIC can be found at www.mpic.com.ph .

For further information, please contact:

MPIC ALEBRT W. L. Pulido VP, Investor Relations Tel: +632-458 1039

MAIDA B. BRUCE Group Comptroller Tel: +632-888 0823

Melody M. Del Rosario VP, Media & Corp. Comm. Tel: +632-888 0888

METRO PACIFIC INVESTMENTS CORPORATION (MPIC)

MANILA, Philippines, 3rd MARCH 2010 - Metro Pacific Investments Corporation ("MPIC" or the "Company") (PSE: MPI) today reported consolidated core net income of P 2.047 billion for the full year 2009, an improvement of 490% from the restated core net income of P 347 million for 2008. Consolidated reported net income stood at P 2.3 billion this year compared with P 526 million last year. These results represent increased contribution from investments in water distribution, toll roads, healthcare and power distribution. The 2008 numbers have been restated to reflect the finalization of the provisional goodwill in Metro Pacific Tollways Corporation ("MPTC") in accordance with PFRS 3, Business Combinations.

The significant improvement in core net income this year is attributable to higher contributions from Maynilad Water Services ("Maynilad"), MPTC, the Healthcare Group and Manila Electric Company ("Meralco"). Maynilad contributed P 1.93 billion or 55% of the total profit contribution from operations, representing MPIC's attributable interest in Maynilad's core income. MPTC contributed P 1.21 billion or 35% of profit from operations, while the Healthcare group contributed P 174 million or 5% of the total. In addition, MPIC's investment in Meralco in October 2009 added P 212 million of equitized core earnings for the three-month period ended December 31, 2009.

Non-recurring, exceptional gains of P 252 million attributable to MPIC reflect a number of one-time accounting adjustments made during the year, the largest element being the income from the rate rebasing exercise at Maynilad.

"The strong improvement and momentum across all our businesses, including the impact of Meralco's contribution, have driven the impressive growth in our consolidated results for 2009. Our operating units have performed well in 2009 and thus enhanced the company's goal of long term value creation" said Jose Ma. K. Lim, President and Chief Executive Officer.

MAYNILAD: IMPROVED PERFORMANCE AND CONTINUING EXPANSION

Maynilad's core net income stood at P 3.3 billion in 2009, compared with P 2.0 billion recorded in 2008 as a result of better operating metrics and a higher effective tariff rate of 28.98 during the year. Billed volume increased to 350 MCM this year from 315 MCM last year. Non-revenue water has significantly declined from its 2008 average of 64% to 60% in 2009. The approval by MWSS of the extension of Maynilad's Concession Agreement for a further 15 years ending in 2024 has enhanced the Company's reported financial results. MPIC's increased ownership of Maynilad from 42.0% to 58.0% accounted also for the higher profit contribution from Maynilad.

Serviced customers at the end of 2009 rose by 6.7%, from 762,315 to 814,645 billed clients in 2009, including 3,000 new customers in BF Homes, Paranaque. Revenues during the year stood at P10.619 billion against P 8.245 billion in 2008.

In order to fast track key projects which can minimize the adverse effects of El Nino on its water supply, Maynilad has obtained temporary exemptions on permits to excavate, and has deployed an additional 60 of its team of engineers and contractors in the field. These intensified operations will enable Maynilad to recover around 100 million liters per day (MLD) of water and can help offset the potential reduction in its raw water supply due to El Nino.

In addition, the Putatan Water Treatment Plant which is scheduled for completion by May 2010, will process 100 MLD from Laguna de Bay to service an initial 105,000 homes in the Muntinlupa areas of Alabang, Bayanan, Poblacion, Putatan, Tunasan and Ayala Alabang. The state-of-the-art treatment plant uses a multi-stage process of Dissolved Air Flotation, Microfiltration, Reverse Osmosis and Chlorination to ensure that the water from Laguna Lake passes the Department of Health (DOH)-issued Philippine National Standards for Drinking Water.

Maynilad is also working on the commissioning of its new Villamor pumping station by April of this year. The Villamor facility has a reservoir that can store up to 10 MLD of water and has the capacity to pump water to elevated parts of the southern portion of Maynilad's concession area.

MPTC: RECORD HIGH AVERAGE DAILY TRAFFIC

MPTC reported core net income of P 1.22 billion for 2009 versus P 987 million in 2008 due to higher revenues from subsidiaries and stable operating and maintenance costs. Reported net income, which includes exceptional, non-cash provisions relating to certain taxes, stood at P 581.7 million compared with P 783.9 million in 2008. The attributable profit contribution of MPTC to MPIC for the period amounted to P 582 million. There is no comparable amount from last year as the acquisition of MPTC took place in November 2008.

The improvement in core income of MPTC is attributable to the higher than expected traffic reported by Manila North Tollways Corporation ("MNTC") and the higher contribution of Tollways Management Corporation ("TMC"). MNTC holds the concession to operate and maintain the North Luzon Expressway ("NLEX") and is owned 67.1% by MPTC. TMC operates the NLEX for MNTC and has an interim agreement to operate and maintain the Subic-Clark-Tarlac Expressway ("SCTEX"). TMC is owned 46.0% by MPTC.

MPTC plans to connect NLEX in the north to the Skyway in the south through the expansion of its existing network of tollways and by way of investments in other tollway concessionaires. These include: (i) the expansion of NLEX through the construction of a 2.7 kilometer Segment 8.1, linking Mindanao Avenue in Quezon City to NLEX in Valenzuela City, scheduled for completion by May 2010; (ii) Segments 9 & 10, the expressway that will connect NLEX to the Port Area in Manila; (iii) investment in SCTEX and (iv) ongoing feasibility study of the 13-kilometer NLEX-SLEX connector road.

In addition to the above, discussions are ongoing with respect to increasing our stake in the Skyway.

HEALTHCARE: INCREASED BED CAPACITY & HIGHER OCCUPANCY

Medical Doctors Inc ("MDI"), respectively the owner and operator of the Makati Medical Center and Colinas Verdes Hospital Managers Corporation ("CVHMC"), operator of the Cardinal Santos Medical Center and a wholly-owned subsidiary of MDI, reported consolidated core income of P384 million which includes the full year's operations of CVHMC versus only 4 ½ months in 2008, compared with P218 million last year. The Roman Catholic Archbishop of Manila awarded a 20-year operating contract to CVHMC beginning 1st March 2009 for the management and operation of Cardinal Santos Medical Center.

Core income attributable to MPIC from the consolidated results of MDI reached P 128 million this year versus P 73 million last year. The increase in core contribution of MDI resulted from higher occupancy for the hospitals and increase in bed capacity from 655 to 707 due to the renovation work completed in Makati Medical Center. On 21st October 2009, MPIC subscribed for an additional 139,983 shares of MDI for a total subscription of approximately P160 million, thereby raising MPIC's ownership in MDI from 32.39% to 34.79%.

The core net income of Davao Doctors Hospital Inc ("DDH") increased 23% to P 139 million for 2009 versus P 120 million last year. DDH contributed P 46 million of core profitability to MPIC for the period compared with P 37 million last year. The increase was due to the excellent results of its hospital operations as a result of new equipment, services and higher bed occupancy of 204 for the year compared with 192 last year. This more than made up for the reduced enrollment and profitability of its wholly-owned subsidiary, Davao Doctors College Inc. MPIC equity accounted the results of DDH starting June 2008 and now owns 34.85% of DDH.

MANILA NORTH HARBOUR AWARD

In October of 2009, the Philippine Ports Authority ("PPA") awarded to the consortium of MPIC and Harbour Centre Port Terminal, Inc. the development, management, operation and maintenance of the Manila North Harbor for a period of twenty five (25) years. The contemplated P 14.5 billion investment will entail the modernization and re-arrangement of the existing ports and expansion of its operational area, from 52 to 70 hectares.

In compliance with PPA's requirement, the consortium which bid for the North Harbor incorporated its joint venture company Manila North Harbour Port Inc on 5th November 2009. More than 1,000 workers engaged in the different operations of the North Harbour will be absorbed. Delays in the turnover of the management and operations of the Manila North Harbor center on labor issues which are being resolved with the help of the PPA. An additional 20,000 jobs will be created as the modernization of the North Harbor proceeds over the next 25 years.

SUCCESSFUL COMPLETION OF INTERNATIONAL SHARE PLACING

MPIC has successfully completed an offering of new MPIC common shares by way of an international placing and road show sponsored jointly by CLSA and UBS. The new equity raised substantially strengthens MPIC's capital structure, broadens its shareholder base and has increased trading liquidity and volumes. MPIC is now the 4th largest listed holding company in the Philippine Stock Exchange ("PSE") by market value, with a free float level of 29%, and ranks amongst the top 20 largest listed companies with a market capitalization of approximately P 57.36 billion as at 2nd March 2010.

THE MERALCO INVESTMENT

Starting October 2009, MPIC has equity accounted for its investment in Meralco. For the last quarter of 2009, MPIC has recorded P 212 million contribution from Meralco's earnings, net of fair value amortization of the intangibles arising from this investment. Such earnings contribution represents the Company's 14.67% share in the net income of Meralco for the three month period ending December 2009. On a stand alone basis, Meralco's core net income for the year stood at P 7.0 billion.

On 1st March 2010, MPIC and Pilipino Telephone Corporation ("Piltel") executed an Omnibus Agreement with a view to rationalizing and combining their respective shareholdings in Meralco into Rightlight Holdings, Inc - to be renamed Beacon Electric Asset Holdings, Inc. The consolidation of the MPIC and Piltel investments in Meralco will make it the single largest shareholder of Meralco, and would allow Beacon Electric to access nonrecourse debt financing for any additional purchases of Meralco shares. Furthermore, the combined structure provides greater security of their respective Meralco investments and assures the Group of significant influence over the affairs of Meralco.

"MPIC has entered a new historic period of growth based on its excellent investment portfolio capable of delivering healthy profitability, robust cash flows and improved customer service levels" said MPIC Chairman Manuel V. Pangilinan. "We are pleased to have strengthened our position as the preeminent infrastructure company in the Philippines, and expect to see this positive performance improving in 2010", concluded Pangilinan.

This press release may contain some "forward-looking statements" that are subject to a number of risks and uncertainties that could affect MPIC's business and results of operations. Although MPIC believes that expectations reflected in any forward-looking statements are reasonable, it can give no guarantee of future performance, action or events.

For further information please contact:

ALEBRT W. L. Pulido VP, Investor Relations Tel: +632 458 1039

MAIDA B. BRUCE Group Comptroller Tel. + 632 888 0823

Melody M. Del Rosario VP, Media & Corp. Comm. Tel : +632 888 0888

About MPIC

Metro Pacific Investments Corporation is a Philippine-based, publicly-listed, investment and management company with holdings in water distribution, tollroads, power distribution, healthcare and port development. Additional information on MPIC can be obtained online at www.mpic.com.ph.

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