Banco De Oro

Regular Pay and Single Pay Variable Life Fund Performance

Maximize Your Dollar and Peso Growth Potential!

PELAC NAVPU as of 03 October 2008
Investment Funds of Variable Life Insurance Contracts	Valuation Date 10/03/2008	Valuation Date 09/26/2008
PELAC Dollar Bond Fund	1.3187	1.3216
PELAC Global Bond Fund	1.1418	1.1518
PELAC Peso Fixed Income	1.0573	1.0633
PELAC Peso Equity Fund	1.0438	1.0497
PELAC Balanced Fund	0.8178	0.8227

These investment funds are specific to variable life insurance contracts and are not
considered mutual funds. Life insurance products are regulated by the Insurance Commission.
PHILAM EQUITABLE LIFE ASSURANCE COMPANY

*Fund prices are net of transaction costs

Banco De Oro
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