BUSINESS PROFILE

Incorporated on July 10, 1987, Ginebra San Miguel, Inc. (GSMI) is a majority-owned subsidiary of San Miguel Corporation (SMC) and primarily engaged in the manufacture and sale of alcohol and alcoholic beverages. GSMI operates three liquor bottling plants that are located in Cebu, Pangasinan and Laguna. The company also utilizes two external toll manufacturers-one in Laguna and another in Lucena, Quezon-to produce liquor products. GSMI's flagship product is Ginebra San Miguel. The company's other products include GSM Blue, Gran Matador Brandy and Vino Kulafu, among others.

Distileria Bago, Inc., one of the company's subsidiaries, is a distillery that converts cane sugar molasses into alcohol with its plant located at Bago City, Negros Occidental. Another subsidiary, Agricrops Industries, Inc., primarily engages in the production of cassava-starch milk, an alternative raw material for the production of alcohol. As of December 31, 2008, the facility for the production of cassava-starch milk was still undergoing fine-tuning and test runs, and had not yet started commercial operations.

GSMI also has a wholly owned subsidiary in Thailand in GSM International Holdings Ltd. (GSMIHL). GSMIHL, together with certain other entities, hold 40% of the shares of Thai Ginebra Trading Co., Ltd. (TGT), a joint venture company with V.C. Property Company Limited. TGT will function as the selling and distribution arm of Thai San Miguel Liquor Co., Ltd.

Source: SEC Form 17-A (2008)

COMPANY FILINGS

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