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>PRESS RELEASES / February 26, 2008

Cebu Pacific inaugurates its first ATR 72-500 aircraft

Cebu Pacific (CEB), the Philippines’ single largest domestic carrier and RP’s biggest airline to the ASEAN region, inaugurates its first brand new ATR 72-500 aircraft today.

Lance Gokongwei, CEB President and CEO, said, “We are pleased to add the ATR to our fleet. This aircraft will play a very significant role in Cebu Pacific’s domestic network expansion. It will enable us to service destinations with runway length and strength limitations, as well as mount more inter-island flights.”

Gokongwei cited the airline’s growth in the domestic market at 47% while its international passenger carriage grew by 141% in 2007.

The event was attended by company officials of Cebu Pacific, Manila International Airport Authorities, while the guest of Honor, Hon. Joseph Durano, Secretary of the Department of Tourism, performed the inaugural ceremony.

“We have succeeded in enticing first time flyers to travel by making the lowest fares available all year round. With the addition of the ATRs to our fleet, travelers of varied economic backgrounds, both local and foreign, can further enjoy a country that is teeming with beauty and unique attractions, with numerous islands that any traveler would enjoy visiting,” Gokongwei concluded.

The airline will use its first ATR aircraft to service its five-times daily Manila-Boracay (Caticlan) and daily Manila-Laoag routes starting February 29, 2008.

CEB is acquiring up to 18 ATR72-500 regional aircraft manufactured by Avions de Transport Regional (ATR), based in Toulouse, France. CEB expects to take delivery of six ATR aircraft this year and another four in 2009. ATR is the world leader in the 50 to 74-seat turboprop market. This fleet expansion is valued at over US$ 330 million.

CEB will also take delivery of four brand new Airbus A320 aircraft this year. CEB expects to have a fleet of 25 by yearend 2008, with 6 ATRs and 19 A320/319 aircraft. This will be used to achieve its target of carrying more than seven million passengers this year.

Now in its 12th year, CEB flies to 12, soon to be 15 international destinations, with the addition of Ho Chi Minh, Hanoi, and Kaohsiung. CEB also operates flights to 21 domestic destinations with the addition of Boracay (Caticlan) this week.