ATRAM Philippine Balanced Fund, Inc.

8/F, 8 Rockwell, Hidalgo Drive, Rockwell Center, Makati City, 1210 Philippines

(632) 814-7800

ird@atram.com.ph

(632) 890-3827

http://www.atram.com.ph

ATR Asset Management

Launched in 1996, The Kabuhayan Fund is a growth and income, diversified portfolio organized as a registered open-end investment company.The Fund seeks long-term capital appreciation together with current income.The Fund will invest only in Philippine entities.Under normal circumstances, the Fund intends to invest at least 40% of its net assets in equity securities of Philippine corporations which generate at least 50% of their revenues from operations within the Philippines.For this purpose, the term equity securities includes common stock, preferred stock and securities convertible into or exchangeable for such equity securities, such as convertible debentures and convertible preferred shares, or shares which carry warrants to purchase such equity securities.The Fund may also invest in fixed-income securities of Philippine corporations such as, but not limited to, commercial paper, notes, bonds and non-convertible preferred shares and in debt obligations of the National, Provincial and/or City/Municipal Governments, and/or the Bangko Sentral ng Pilipinas.The Fund may also invest in deposits, deposit substitutes and banker's acceptances issued by Philippine financial institutions.The Fund will invest in a variety of Philippine industries, but may not invest more than 25% of its assets in any single industry.