SM Prime Holdings, Inc. is part of the SM Group of Companies, one of the largest conglomerates in the Philippines with interests in commercial property development, shopping mall operations, retail/wholesale and merchandising, banking and financial services, and leisure/tourism and real estate development.

A publicly-listed company, member of the Philippine Stock Exchange, SM Prime Holdings, Inc. is the largest shopping mall owner, developer and operator in the country. SMPH currently has 22 operational fully air-conditioned malls located all over the country, with total gross floor area of 2.7 million square meters. With each mall holding a 97% occupancy rate, SMPH has over 5,115 tenants.

History

The first SM Supermall—SM City North Edsa—was opened in 1985 and started the Philippine “malling” phenomenon as we know it today. The SM Supermalls are a part of every Filipinos life—the pioneer of the one-stop shop concept in the country, with each Supermall having a well-balanced mélange of shopping (both local and international brands), restaurants and fastfood dining, amusement (bowling lanes, ice skating, theme rides and games), leisure (as many as 12 cinemas under one roof), and convention and trade exhibition centers. The SM Supermall is the ideal wholesome family gathering and entertainment place.

Located in key areas in Metro Manila, as well as major provincial cities, each SM Supermall is easily accessible and situated by places of public interest (churches, schools, major roads and highways, etc); truly a destination not missed by every Filipino family.

The pioneer SM concept of synergizing amusement and entertainment areas within the shopping mall has been replicated but never duplicated in size and scope. The first ice skating rink in the Philippines was opened in SM Megamall—also the Philippines’ largest shopping mall to date with 330,000 square meters gross floor area—in 1991. With this first, SM introduced Filipinos to an art-sport otherwise unpopular in tropical countries. Today, Filipino ice skating delegations have participated and excelled in international arenas, crediting their exposure and excellence to the SM rinks. The SM Supermalls also house146cinemas (with over 103,708 total seating capacity), making SM Prime Holdings, Inc. the largest cinema operator in the country.

It is in this spirit of leadership that SM Prime Holdings, Inc. is embarking on an aggressive expansion program within the next five years. In preparation for this expansion, SM Prime Holdings, Inc. has amassed a total landbank of 96.6 hectares in 10 strategic locations. Included are prime properties in provinces where urbanization is steadily underway, such as Cabanatuan, Pangasinan and Bulacan.

By 2006, four additional SM Supermalls will be operational, including the Mall of Asia. This is SM Prime Holdings, Inc.’s most extensive project, surpassing even the standards we have set. Envisioned in the Mall of Asia is a premier shopping destination and tourist attraction located by scenic Manila Bay, revitalizing the Roxas Boulevard Bay Area, once a popular tourist and leisure destination.

The SM Group has over 50 years of experience and leadership in the retail industry, with the SM Department Stores and SM Supermarkets and more recently, SM Hypermarkets. SM Department Stores have been long-trusted by Filipino consumers as offering the best value for money—a public confidence well-earned and kept since the first SM Department Store opened in 1958. The SM Department Stores, SM Supermarkets, and SM Hypermarketsare now 22 branches strong—undoubtedly the Philippines’ retail leader and solid anchor tenants of every SM Supermall. A parallel expansion program for the SM Department Stores, SM Supermarkets, and SM Hypermarkets is underway alongside SMPH future developments.

The SM Group has engaged in other retail endeavors through other SM- related companies such as, among others: Watsons Personal Care Stores, Inc., a joint-venture with Hutchison-Whampoa Ltd. of Hong Kong; International Toy World (Toy Kingdom); Ace Hardware Philippines, a joint-venture with Ace Hardware Corporation USA; Star Appliance Center; Surplus Shop; Sports Central; Baby & Co.; Home World; and Our Home.

Alongside the SM Group heritage and experience in the industry, and a secure place as the market leader, SM Prime Holdings, Inc. will continue to be the country’s leading mall developer and operator, and a name in the realms of shopping value, leisure and entertainment: One-stop shopping, the best locations, and first-rate environment at the most reasonable prices.

Corporate Vision/Mission

SM Prime will provide one-stop shopping, dining, amusement, and entertainment convenience to meet the needs of a broad range of consumers in the Philippines. Thus, consumers will enjoy a wide selection of carefully selected specialty retail outlets, restaurants, and leisure facilities in the malls.

SM Prime will continue to acquire strategically located tracts of land for mall development purposes. Such acquisition will be made based on opportunities for attractive asset appreciation and revenue streams, and local area development.

As a corporate citizen, SM Prime commits itself to contributing to national development. It will develop high value-added shopping malls that can enhance the quality of life in the malls' localities. In addition to striving toward continuous customer satisfaction, it will work toward shoppers' education in the malls. It will keep on providing employment opportunities to thousands of Filipinos as well as entrepreneurial opportunities to its many tenants, suppliers, developers, and designers of world-class distinctly Philippine products. Furthermore, it will continue to contribute to the development of merchandising expertise and professional management in the country.

Finally, SM Prime commits itself to maintaining its leadership in the shopping mall industry.

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