Mr. Antonio N. Abaya Jr.

Atty. Armel T. Cansino has been appointed as Non-Executive Director effective 18 July 2007 to replace Mr. Antonio N. Abaya, Jr. who has resigned as Non-Executive Director effective 18 July 2007.Mr. Abaya, however, has been elected as an Alternate Director effective 18 July 2007Atty. Armel T. Cansino has been the Chief Financial Officer of the Group and an Alternate Director since February 1, 2005.Atty. Cansino has been the Assistant Company Secretary of Fastech Synergy Ltd since 1999 and Company Secretary of all Fastech subsidiaries since 1998.He obtained his Juris Doctor degree at the Ateneo De Manila College of Law and his Bachelor of Science degree in Accounting from the De La Salle University.He is also a Certified Public Accountant.
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Antonio N. Abaya, Jr. , Alternate Director to Octavio V. Cruz, Jr.
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Mr. Felizardo will replace MR. ANTONIO N. ABAYA, JR. who resigned as Chief Financial Officer effective today.
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The Board of Directors wishes to acknowledge the crucial role that Mr. Abaya played in the corporate transformation process that the Group launched in response to the drastic downturn in the semiconductor industry and in the successful implementation of the Group's debt restructuring program.The Board of Directors would like to extend to Mr. Abaya their deepest appreciation for his contribution to the Group.
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said Mr. Antonio N. Abaya, Jr., Chief Financial Officer of Fastech.
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said Mr. Antonio N. Abaya, Jr., Chief Financial Officer of Fastech.
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commented Mr. Antonio N. Abaya Jr., Fastech's Chief Financial Officer.

Mr. Abaya further reported the following details related to the Group's financial report:
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Going forward, we are in a better position to take advantage of the industry upturn that may happen in 2nd half of 2002.", says Fastech Chief Financial Officer Antonio N. Abaya, Jr.
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Fastech Synergy Ltd (Bloomberg: FAST SP) announced today the appointment of Mr. ANTONIO N. ABAYA, Jr. as Chief Financial Officer and Treasurer.

Mr. Abaya is an investment banker, professional manager and entrepreneur.He has extensive experience in international investment banking as well as line operations in various industries.He holds a Master in Business Management degree (with Distinction) from the Asian Institute of Management and a Bachelor's degree in Metallurgical Engineering (magna cum laude) from the University of the Philippines.Before joining Fastech, he was Associate Director of Capital Strategies Limited where he was responsible for the corporate finance projects of the firm.He handled projects and investments in the Philippines, Hongkong, Singapore, China and the USA.He was financial advisor to companies which have successfully raised financing thru private placement and/or public offering of their shares.

Mr. Abaya will replace MS. CARMELITA M. CHUA who has resigned as Chief Financial Officer effective today.