Semirara Mining Corporation Among the Top 15 in 2008 Corporate Governance Scorecard for Publicly-Listed Companies in the Philippines

The Company ranked among the Top 15 Publicly-Listed Companies in the 2008 "Corporate Governance Scorecard for Publicly-Listed Companies in the Philippines," a partnership project between the Institute of Corporate Directors, SEC, Philippine Stock Exchange and Ateneo Law School. The Scorecard project adopts the East Asian Template as part of a regional effort to improve corporate governance in East Asia and already used in Thailand, Hongkong, China and Indonesia. The Company scored highly with 92% as compared to the Philippine aggregate score for all participating companies of 72%. Likewise, the Company was among the Top 20 Philippine Listed Companies given due recognition in the same project in 2007. These achievements affirm the Company’s significant and continuing progress in its overall corporate governance framework through the adoption of global best practices promoting higher standards of performance, transparency and accountability to all stakeholders.