ABOUT CITADEL

Citadel Holdings Inc (Citadel) is a private holding company with investments in aviation services, freight management and logistics, and telecommunications. Francisco C. Delgado, one of the leading post-war businessmen in the Philippines, serves as the company’s Honorary Chairman. Ricardo C. Delgado took over as CEO in 1984, and has grown the company over the years through diversification and acquisitions.

Under his leadership, Citadel became one of the pioneers in the liberalization of the Philippine telecommunications industry as majority shareholder of Isla Communications (Islacom). This company launched the first GSM service in the Philippines, and also built local exchange infrastructure in Central Philippines. After turning Islacom into a viable telecom provider, Citadel agreed to a buyout by Deutsche Telekom in 1999, in the process raising substantial resources to invest in other sectors, both in the Philippines and abroad.

Today, Citadel has leadership positions in airport services, through its partnerships with Swissport International Ltd. and Gate Gourmet International AG, worldwide leaders in ground services and airline catering respectively. Citadel plays a major role to the country's export-oriented industries through its partnership with the Exel Group and Hyundai Merchant Marine, both prominent worldwide logistics and transportation companies. Internationally, Citadel continues to be on the lookout for new opportunities, recently signing a deal to purchase control of the Micronesia Telecom Co from Verizon Communications. MTC is the dominant telecom provider in Micronesia.

In the past two decades Citadel has demonstrated its ability to deploy capital as well as partner with leading international companies to create and grow businesses in several industries. In line with these efforts, the company will continue to expand, strengthening its ties with existing partners and by forging new alliances with companies in search of a reliable and tested partner in the Philippines and the region.