AMLAN POWER PLANT TURNOVER

The Power Sector Assets and Liabilities Management Corporation (PSALM) turned over the 0.8-megawatt Amlan Hydroelectric Power Plant to its new owner, ICS Renewables Inc., in a simple affair held at the PSALM offices on 25 June 2009 as part of the Corporation’s eighth anniversary celebration. PSALM President and Chief Executive Officer Jose C. Ibazeta (left) and ICS Renewables President Juan Eugenio L. Roxas sign the Joint Certificate of Turnover and the Deed of Absolute Sale to formalize the privatization of the power facility. PSALM also received from ICS Renewables USD230,000 as full payment for the Amlan asset.