ISAN MIGUEL CORPORATION

July 17, 2017

The Philippine Stock Exchange, Inc.

Disclosure Department

3rd Floor, Tower One and Exchange Plaza Ayala Triangle, Ayala Avenue

Makati City

Attention : Mr. Jose Valeriano B. Zuno Ill

OIC-Head, Disclosure Department

Gentlemen:

Further to our disclosure dated July 6, 2017 relating to the investment by the Company in the business of importation, distribution and servicing of BMW vehicles in the Philippines, we advise that, today, July 17, 2017, the constitutive documents for the incorporation of SMC Asia Car Distributors Corp. ("SMC Asia Car") was filed with the Securities and Exchange Commission. SMC Asia Car will be the corporate vehicle that will engage in the business referred to herein and is 65% owned by the Company and 35% owned by Mr. Jose Alvarez, respectively.

Very truly yours,

FERDINAND K. CONSTANTINO

Corporate Information Officer

40 SAN MIGUELAVENUE,MANDALUYONG CITY,1560 METRO MANILA,PHILIPPINES TEt..NOS.(632) 632·3000

San Miguel Corporation published this content on 17 July 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 18 July 2017 02:42:05 UTC.

Original documenthttp://www.sanmiguel.com.ph/files/reports/PSE-SMC_updates_on_the_BMW_matter_07.17_.17_.pdf

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