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A Commendation Letter from PHINMA Inc.
September 28, 2012

Mr. Michael Mabutol
President
Pinnacle Real Estate Consulting Services, Inc.
Unit E-1, Garden Level, Corinthian Plaza Building
Paseo de Roxas, Makati City

Greetings Mr. Mabutol:

I am writing to commend your company and people on the excellent service they have extended.
I have been dealing with Pinnacle for the past few months, working closely with the teams of Ms. Audie de Leon, Mr. Raffy dela Rosa, and Mr. Leo Doplito. I am very satisfied with the results of the different services and projects rendered by your professional teams.

I look forward to mutually beneficial endeavors in the future.

More power to you and your company.

Sincerely,

Maria Karen Hilado-Pacis
Office of the Chief Operating Officer
Philippine Investment-Management (PHINMA), Inc.

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