THE PAL PENSION FUND

PURSUANT TO SECTION 27 OF THE TRUSTEE ACT 1925

The PAL Pension Fund (“the Fund”) is in the process of winding-up. Announcements regarding the above have been sent by post to all known Members of the Fund. Accordingly, it is of vital importance that any person having a claim against or an interest in the Fund, including any person who may have been employed by Philippines Air Lines on a part time basis, and who considers that his or her exclusion from the Fund may have constituted indirect discrimination, who has not received a copy of the announcements, should make themselves known to the Trustees of the Fund. Particulars of any claim should be sent in writing to the undermentioned on or before 30 September 2001, after which the Trustees will proceed with the winding-up of the Fund assets having regard only to the claims and interests of which they have had notice. Notification is not required from persons who are currently in receipt of a pension from the Fund, or who have received correspondence from me. G Pitcher, 5 Halliday Close, Worksop, Nottinghamshire S80 1YF.