At the close of the current season, the Philippine Basketball Association (PBA) will have to find a new home. ABC 5,
the PBA's television carrier for over three years, has decided not to bid to renew its rights to cover and broadcast the
country's premier basketball league.

This was disclosed to PBA in a letter sent to PBA Chairman of the Board of Governors, Tony Chua. The letter, dated
April 8, was signed by ABC5 Managing Director Roberto "Bobby" V. Barreiro.

Barreiro cited that ABC5 has been "a loyal ally and partner of PBA" and that together, ABC5 and PBA have "worked
very hard to achieve gains for the league." This joint effort, Barreiro continued, has resulted in a much stronger
PBA - "the fans are back, the ratings are higher, the public image is better, the players are more popular and
advertisers are more willing to invest in the league."

In nixing the PBA, Barreiro noted that ABC5 "has opted to take a different route to serve its publics" and will soon
announce the launching of a combination of programs "that is meant to delight viewers." ABC5 Chairman & CEO
Antonio O. Cojuangco recently signed a major blocktiming contract with MPB Primedia, a local company backed
by Malaysian media conglomerate Media Prima Berhad. Primedia will be the entertainment content provider for t
he network which is making a new bid for a bigger slice of the TV audience and advertising pie. It will also make its
presence felt in the regional markets.

Following is the full text of ABC5's letter to the PBA:

April 08, 2008

MR. TONY CHUA
Chairman of the Board of Governors
Philippine Basketball Association
186 E. Rodriguez Jr. Ave.
Libis, Quezon City

Dear Mr. Chua:

Thank you very much for inviting us to make a presentation to the board
for the rights to cover and telecast the next PBA season/s. In the
absence of the Terms of Reference to guide us, we assumed that the
terms are similar to the previous seasons.

We have been a loyal ally and partner of the PBA for over three years
now. Together, we have worked very hard to achieve gains for the
league and we are pleased to note that our collective efforts have borne
fruit. The PBA is now much stronger than it was three years ago - the
fans are back, the ratings are higher, the public image is better, the
players are more popular and advertisers are more willing to invest in the
league.

We know that together, we can achieve much more for the league.
Lessons have been learned and many more innovative ideas can still be
implemented. It would have been exciting to work with the PBA again.

While we are confident that we can contribute more to the PBA's
success, ABC-5, our mother network, has opted to take a different route
to serve its publics. Soon, it will announce the launching of a
combination of programs that is meant to delight the viewers. Given the
current schedule of the PBA games, ABC-5 will no longer be able to
telecast all the games live, which is a condition in the current contract.
Thus, we have decided not to submit a bid for the television rights of the
PBA's next season/s.

We wish to assure you that as gentlemen and professionals, we will
continue to provide the best possible coverage and telecast of the PBA
games until the end of our contract. Furthermore, if there is anything we
can do to find and ease the transition to a new coveror, please do not
hesitate to contact us.

Kindly relay our sincerest gratitude to the Board of Governors, the Office
of the Commissioner, the teams and the players, and all the others
behind the PBA for giving us the opportunity to be a television partner of
the league. It is gratifying to note that we have both emerged stronger at
the end of our agreement.

We wish the PBA all the best.

Very truly yours,

BOBBY BARREIRO
Managing Director