(04 June 2007, Manila, Philippines)  SM Prime Holdings, Inc. is pleased to announce the successful completion of its Php 4,000,000,000 Floating Rate Notes Facility.  The deal was arranged by First Metro Investment Corporation with SB Capital Investment Corporation acting as co-lead arranger.  The facility will have a maturity of five years and one day from issue date and its proceeds will be used to fund on-going capital expenditures and for general corporate requirements. 

The facility was over-subscribed with 7 primary institutional lenders subscribing to the Issue.  The strong response by the market to this financing illustrates the high credit quality of SMPHI, as well as the local market’s confidence in SM Prime Holdings, Inc.