NEWSFLASH

$100-M WATER SYSTEM FOR LAGUNA

Sta. Cruz, Laguna, May 3, 2000 - All Asia Anglian Water Corporation is in a joint venture to establish a $100 million new water system to supply the growing demand of water in the fastgrowing commercial and industrial estates in Laguna.

The new water system includes the tapping of new water sources from deep wells and spring, the laying of distribution pipelines, water reservoirs, treatment facilities, new service connections and technology transfer.

The commercial and industrial establishments are concentrated in the towns of Cabuyao, Sta. Rosa and Binan. The province of Laguna has a growing population of 500,000 people.

All Asia Anglian Water Corporation is a joint venture company between All Asia Capital and British water giant Anglian Water International.

The company is seeking approval of the project from the Board of Investments (BOI) to avail of the government's fiscal incentives. The BOI has yet to act on the proposed joint venture between All Asia Anglian Water and the Laguna province.

The project is considered the first in the Philippines between a provincial government and a private water company.

The joint venture and concession agreements are being finalized by All Asia Anglian and the Laguna province.

Both parties have signed the memorandum of agreement for the preparation of the feasibility study for the new water system a year ago and conducted a twomonth feasibility study in May 1999.

Anglian Water International is one of the largest regional water companies in the United Kingdom.

Aside from the proposed new water system in Laguna, All Asia Anglian Water is looking for other water projects throughout the country.