The Board of Directors of First Philippine Holdings Corporation approved the appointment of Mr. Walter C. Wassmer as Senior Board Adviser. Mr. Wasmer is presently a member of the Board of Directors, as well as Management and Technical Consultant, of BDO Unibank Inc. He was previously Chairman and Officer-In-Charge of BDO Elite Savings Bank Inc., and held directorships in BDO Leasing and Finance Inc., BDO Finance Corporation, BDO Capital & Investment Corporation, MMPC Auto Financial Services Corporation, MDB Land Inc., Mabuhay Vinyl Corporation, and Banco De Oro Savings Bank Inc. Mr. Wassmer holds a Bachelor of Science degree in Commerce from De La Salle University (1979) and completed a Management Development Program from the Asian Institute of Management (1988).