02 March 2012

Dear Homeowners and Residents:

I am pleased to inform you of the progress of the Gym/Covered Court construction.

On February 27th, the time capsule was placed at the ground-breaking site of the Gym/Covered Court. The time capsule contained copies of the original Articles of Incorporation and By-Laws of the Association, the latest approved Amended By-Laws submitted to HLURB, the Pearl Anniversary Souvenir Book, the original Master Plan design done by Dr. Nathaniel von Einsiedel, the revised plans as approved by the March 2011 General Assembly, and copies of the February 27th issues of The Manila Bulletin, The Star and The Journal.

The Cabañas are nearing completion. The glass panels have been installed; acoustical ceilings have been placed; air conditioning needs have been identified and will be ordered. They are expected to be ready for use by the end of March.

The Gym/Covered Court construction has been according to schedule. You must have noticed the towering columns in preparation for the installation of the roof. With certitude of funds availability, at its meeting on 22 January 2012, the Board of Directors approved the addition of locker rooms and toilets to the original plan.

At the 5 February 2012 Board meeting, the functionality and economic aspects of using a concrete slab as roof of the locker rooms/toilets were deliberated upon. This was referred back to the Master Plan Construction Committee for further study and costing.

Updates will be circularized as the construction progresses.

In the meantime, please visit the Park to see the progress of these constructions.

Sincerely yours,