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Our Position Regarding Reports By Reuters And Asahi Shimbun

Furthermore, 3) Reuters has not been able to present any evidence that permission was granted for the foreign investment toward our corporate group's project or that our corporate group approached the regulating authorities to resolve issues surrounding the acquisition of site. To being with, the "permission for foreign investment" (i.e. PEZA certification) is not something that is granted to a specific operation by a specific company. Instead, it is a permission that is granted to the entirety of a specific region based on Filipino law. Therefore, it was not only granted to a specific project undertaken by our corporate group. In reality, other companies in the region that received PEZA certification receive the same preferential treatment. These are facts that could have been easily clarified if Reuters had conducted minimum research as an honest media organization. Furthermore, since "the fact that our corporate group has approached the regulating authorities to resolve issues surrounding the acquisition of the site" does not exist, Reuters has not presented any evidence that corroborates this even in their later reporting.

As such, the reports by Reuters serve to corroborate the error in their reports due to their poor researching conducted by themselves. Despite this, they show no remorse and do not provide report corrections. Instead, they aim to replace the reported facts in vain. And to go even further, despite acquiring materials from us related to actions that are believed to be illegal conducted by Wynn Resorts, currently in litigation with us, Reuters has not made any statements on this. Instead, Reuters has published a one-sided article on our company being suspected of bribery. This is an inexcusable act to take from a media organization, whose spirit is to be fair and equal. We believe that this shows an inordinate maliciousness toward us. 

Secondly, Asahi Shimbun reported the following in their article on December 30, 2012: 1) There is a strong possibility that the business entertainment for Filipino high-ranking officers infringes on the Foreign Corrupt Practices Act (FCPA); 2) A massive sum of non-transparent money has been transferred to a company managed by the adviser of Pagcor (The Philippine Amusement and Gaming Corporation). Even in their report dated February 8, 2013, Asahi Shimbun reported that 3) A massive sum of remittance totalling US$40 million to the advisors of the Filipino Casino Regulatory Authorities has been reported to the heads of Universal Entertainment Corp..

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