Consolidated Balance Sheet  At September 30, 2002, with comparative figures for 2001  Million pesos as of September 2002

	2002	2001
ASSETS
Current Assets:
Cash and temporary investments	$ 743	$ 529
Trade accounts receivable	2,066	1,437
Other accounts receivable	685	570
Inventories	2,393	2,210
Total current assets	5,887	4,746
Investment in shares of Associated Company	597	1,295
Property, Plant and
Equipment	19,763	20,473
Deferred Charges	1,627	1,799
Deferred Tax	399	576
Other Asset	291	292
TOTAL ASSETS	$28,564	$29,181
LIABILITIES & EQUITY
Current Liabilities:
Current portion of long term debt	$ 68	$ 2,040
Short-term affiliated Co.		206
Bank loans		1,720
Accrued interest payable	42	65
Accounts payable and accrued expenses	2,414	2,027
Total current liabilities	2,524	6,058
Long-Term Liabilities:
Long-term debt	11,266	9,403
Long-term affiliated Co	193
Deferred taxes	2,316	1,878
Estimated liabilities for seniority premiums and pension plan	1,136	970
Total long-term liabilities	14,911	12,251
TOTAL LIABILITIES	17,435	18,309
Stockholders’ Equity:
Nominal capital stock	4,975	2,394
Restatement of capital stock	578	552
	5,553	2,946
Other contributed capital
Contributed capital	5,553	2,946
Earned surplus	3,653	5,951
Total majority interest	9,206	8,897
Minority interest	1,923	1,975
TOTAL STOCKHOLDERS' EQUITY	11,129	10,872
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$28,564	$29,181
Majority interest per share	18.1815	36.4988
Majority interest per ADS/GDS	109.0889	218.9928

Consolidated Statement of Income  For the Period Ended September 30, 2002, with comparative figures for 2001  Million pesos as of September 2002

	2002	2001
Net sales	$ 9,728	$ 9,045
Cost of sales	(8,390)	(7,956)
Gross profit	1,338	1,089
Operating expenses	(840)	(803)
Operating income	498	286
Comprehensive financing (expenses) income, net	(1,342)	(650)
Other expenses, net	(167)	(242)
Income (loss) before the following provisions	(1,011)	(606)
Provisions for income tax, assets tax and deferred tax	659	136
Employees' profit sharing	(17)	(3)
Income (loss) before extraordinary items	(369)	(473)
Extraordinary item — income tax reduction and asset tax credit
Income (loss) before equity in associated company	(369)	(473)
Reserve for loss in investment in associated companies
Equity in income (loss) of associated company	(369)	(217)
Consolidated net income (loss)	(738)	(690)
Net (income) loss corresponding to minority interest	(5)	(10)
Net income (loss) corresponding to majority interest	($ 743)	($ 700)
Net majority income (loss) per share	(1.4657)	(2.8584)
Net majority income (loss) per ADS/GDS	(8.7941)	(17.1504)