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    INVESTORS' CENTER - Year Ended September 30, 2004
    Financial Highlights     Hotels Division
    Message to the Stockholders     Board of Directors
    Commercial Centers Division     Management Team
    High-Rise Buildings Division     Downloads
    Housing & Land Dev. Division
     
    Housing and Land Development Division
   
Fy 2004 was a banner year for the Housing and Land Development Division, having sold record levels in terms of volume and value. The most significant contribution came from Robinsons Highlands which has been fully sold-out, followed by Southsquare Village and by Robinsons Vineyard.
The division, through its two (2) subsidiaries, Robinsons Homes, Inc. (RHI) and Trion Homes Development Corporation (THDC), remains unwavering in its commitment to the government’s invitation for expanded private sector support in the alleviation of the country’s housing backlog. As a testimonial to that commitment, the division currently has 12 residential projects, all of which are strategically located in the Luzon and Mindanao regions:

* Robinsons Homes East – Antipolo City
* San Jose Heights – Antipolo City
* San Lorenzo Homes – Antipolo City
* Centennial Place – Quezon City
* Robinsons Vineyard – Dasmarinas, Cavite
* Southsquare Village – General Trias, Cavite
* Grosvenor Place – Tanza, Cavite
* Residenza Milano – Batangas City
* Forest Parkhomes – Angeles City, Pampanga
* Robinsons Hillsborough Pointe – Cagayan de Oro City
* Robinsons Highlands – Davao City
* Highlands Crest – Davao City

The division envisions itself to be among the tope 3 reputable housing developers in the nation, with a reputation of delivering quality, affordable housing, giving its buyers the best value for money. It will continue to focus on selling mid-cost lots with option for housing, develop premium and upscale subdivisions, and aggressively beef up its sales network thru further expansion of the sales force abroad. The division is confident that despite the critical times ahead, it will still surpass expectations and meet its key performance indicators.