Fujitsu Ten Solutions Philippines, Inc.

Retirement Fund Establishment

Manila, August 01, 2004 — In compliance with RA No. 7641 called the Retirement Pay Law, FTSP has established its retirement fund with PCI-Equitable Bank effective August 1, 2004. The established retirement fund aims to provide payment for retirement, disability, death or separation benefits for FTSP employees or their beneficiaries.

All regular employees as of the effectivity date of the fund establishment are members of the plan. Any employee who is regularized after the effectivity date will likewise be a member of the plan.

Based on the Retirement plan rules and regulations, employees who have reached the age of 60 and has rendered at least 5 years of continuous service is entitled to the benefits for optional/normal retirement. Employees who have reached the age of 50 and has rendered at least 10 years of continuous service may avail of the benefits for early retirement. Early retirement applications are subject to the approval of the Company.

Under normal retirement, a member shall be entitled to receive an amount equal to 100% of the final monthly basic salary for every year of service. For early retirement, an employee shall be entitled to receive an amount computed as a percentage of his final monthly basic salary for every year of service in accordance with his length of service as shown in the given table.

In the event of an employee’s death, his/her beneficiaries shall receive the amount equal to 100% of the employees’ final monthly basic salary for every year of service he/she has rendered. Employees who are separated from the company due to total permanent disability shall likewise receive the amount equal to 100% of the employees’ final monthly basic salary for every year of service he/she has rendered.

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About Fujitsu Philippines, Inc.

Fujitsu Philippines Inc. (FPI) is a leading system integrator of Information and Communication Technology (ICT) solutions for Philippine enterprises. With over one thousand full-time Filipino technology professionals and more than 25 years of operations in the country, FPI is uniquely positioned to apply the best-of-breed technology solutions to assist its customers in solving complex business problems. By leveraging the collective expertise, experience, and work ethics of its workforce, FPI has an unmatched track record in designing, building, implementing, and maintaining ICT solutions, especially in difficult projects with complex technology architectures, nation-wide geographic scope, and tight implementation schedules. FPI is an affiliate of Fujitsu Limited headquartered in Tokyo, which reported consolidated revenues of 4.6 trillion yen (about US$38 billion) for the fiscal year ended March 31, 2003.
For more information, please see: http://www.fujitsu.com/ph/

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