ABS-CBN Corporation Sgt. Esguerra Avenue, Quezon City, Philippines

13 April 2012 Philippine Stock Exchange, Inc. Attn: Ms. Janet A. Encarnacion

Head, Disclosure Department 3rd Floor, Philippine Stock Exchange Plaza Ayala Triangle, Ayala Avenue, Makati City

Securities and Exchange Commission Attn: Director Justina F. Callangan Corporate Finance Department SEC Building, EDSA, Mandaluyong City Subject: Full Year 2011 Results and Analysts’ and Press Briefing Presentation Materials Gentlemen / Ladies: We are providing you details of our 2011 Full Year Results and the materials that we are presenting in our briefing today. Thank you. Very truly yours, Paul Michael V. Villanueva Compliance Officer for Corporate Governance

PRESS RELEASE

Release Date : FOR IMMEDIATE RELEASE Reference : Paul Michael Villanueva, Head, Treasury and Compliance Officer

Tel : 415.2272 local 4322 Email : mike_villanueva@abs-cbn.com

ABS-CBN nets P2.4 billion for 2011 Quezon City, Philippines (April 13, 2011) – The consolidated net income of ABS-CBN Corporation (“ABS-CBN” or the “Company”) (PSE: ABS, ABSP), the country’s largest multimedia conglomerate, registered P2.4 billion for the full year 2011. ABS-CBN generated consolidated revenues of P28.2 billion from advertising and consumer sales, a 13% decline compared to 2010. Less the revenues from political advocacies and advertisements in 2010, consolidated revenues for 2011 declined by 4% year-on-year. ABS-CBN’s advertising revenues reached P17.6 billion, a decline of 19% from a year ago. Minus

the revenues from political advocacies and advertisements in 2010, advertising revenues

declined by 6% year-on-year. This decrease is attributable to a slowdown in advertising

spending by corporates.

Consumer sales for 2011 amounted to P10.6 billion, posting a 1% increase from a year ago. Sky

Cable continues to contribute positively with revenues increasing by 10% to P4.3 billion. This is

mostly driven by the increased take up of its broadband service subscriptions which increased

by 18% year-on-year. However, ABS-CBN Global revenues declined by 8% year on year in peso

terms due to the decline in subscribers and the appreciation of the Philippine peso against the

US dollar. ABS-CBN Global’s overall viewer count was almost flat compared to the previous

year. There was subscriber growth in Canada, Asia-Pacific and Australia, while there were

declines in the Middle East, Europe, North America and Japan.

Total operating and other expenses dropped by P1.1 billion or 5% year-on-year to P22.3 billion.

This was partly a result of lower cost of sales and services and general and administrative

expenses (GAEX) as the company continued its effort to manage and control expenses. The

decline in both expense accounts partly offset the increase in total production costs due to the

Company’s drive to produce quality and innovative programs.

Net income attributable to shareholders is at P2.4 billion, aided by a gain on sale of Sky Cable Philippine Depositary Receipts (PDRs) to the Singaporean company, STT Communications Ltd. Meanwhile, earnings before interest, taxes, depreciation and amortization (EBITDA) hit P6.8 billion. Capital expenditure and film and program rights acquisition for the year amounted to P4.2 billion, 14% higher than the level of spending from the previous year. Additional equipment was purchased to increase the company’s capacity to produce additional new programs.

ABS-CBN maintained its national audience share and ratings leadership with prime-time

audience share averaging 43% , with a 13 percentage point lead over GMA’s, based on the

Kantar National TV Ratings figure.

For the full year 2011, twenty one of the company’s shows were in the Top 20, with the

following occupying the Top 18 slots: Emil Cruz Jr.’s Mara Clara, 100 Days to Heaven, PabloS.

Gomez’s Mutya, Minsan Lang Kita Iibigin, Ikaw ay Pag-ibig, Budoy, Maalaala Mo Kaya…, Noah,

Pilipinas Got Talent (Sun), TV Patrol, Guns and Roses, Pilipinas Got Talent (Sat), My Binondo Girl,

Imortal, Rated K Handa Na Ba Kayo?,Junior Master Chef Pinoy Edition (Sat), Wansapanataym,

Nasaan Ka Elisa?, and Maria La Del Barrio

ABS-CBN Film Productions, Inc. released sixteen films in 2011. Five of them–Ang Tanging Ina

Mo Last Na To, Dalaw, Catch Me I’m in Love, In The Name of Love, No Other Woman and

Praybeyt Benjamin–topped P100 million in box office receipts, earning blockbuster status by

local standards. No Other Woman, a co-production with Viva Films, grossed P282 million,

while Praybeyt Benjamin, also a co-production with Viva, grossed P342 million.

--- About ABS-CBN Corporation

ABS-CBN Corporation is the leading Philippine entertainment and information multimedia conglomerate. In the Philippines, ABS-CBN produces a wide variety of engaging world-class entertainment programs in several genres and balanced credible news programs that are aired on free-to-air TV via Channels 2 (VHF) and 23 (UHF) and a regional network of TV and radio stations nationwide. It also provides news and entertainment programming for nine channels on cable TV. The Company owns the leading film and music production and distribution outfit in the Philippines, and has interests in cable TV, Internet and mobile services, and glossy-magazine publishing. It brings its content to worldwide audiences via cable, satellite and the Internet, primarily through ABS-CBN Global’s The Filipino Channel (TFC).

Full Year 2011 Financial & Operating Results

The Chronicle Lounge 14/F Eugenio Lopez Jr. Communications Center

Eugenio Lopez Ave., Q.C. 13 April 2012

1

Php28.2 billion 2011 Consolidated Gross Revenue

13% year-on-year

Consolidated Gross Revenues

Ad Revenues

62%

Consumer Sales38%

o

2

Consolidated Advertising Revenues in Php Millions

6% YoY without political advocacies and advertisements

0

4,000

8,000

12,000

16,000

20,000

2010 2011

18,67917,578

3,060

3

Political Advocacies &

Advertisements

21,739 17,578

36

43

35

30

13 15

4 4

ABS-CBN GMA TV 5 Studio 23

National Ratings – Total Philippines

4

Total Day Audience Share Evening Primetime Audience Share

Kantar Media/TNS National Urban Philippines TV Audience Shares (2011)

Kantar Media/TNS National Urban Philippines’ Top Programs (2011)

Top 20 Programs

5

Top 21 of the Top 23 are ABS-CBN Programs

Rank Channel Title Rtg%

1 ABS-CBN EMIL CRUZ JR.'S MARA CLARA 33.4

2 ABS-CBN 100 DAYS TO HEAVEN 32.6

3 ABS-CBN PABLO S. GOMEZ'S MUTYA 32.4

4 ABS-CBN MINSAN LANG KITA IIBIGIN 29.4

5 ABS-CBN IKAW AY PAG-IBIG 29.2

6 ABS-CBN BUDOY 28.8

7 ABS-CBN MAALAALA MO KAYA... 28.2

8 ABS-CBN NOAH 28.0

ABS-CBN PILIPINAS GOT TALENT(SUN) 27.2

ABS-CBN TV PATROL 27.2

10 ABS-CBN GUNS AND ROSES 27.0

11 ABS-CBN PILIPINAS GOT TALENT(SAT) 26.5

12 ABS-CBN MY BINONDO GIRL 26.3

13 ABS-CBN IMORTAL 24.7

14 ABS-CBN RATED K HANDA NA BA KAYO? 23.8

15 ABS-CBN JUNIOR MASTER CHEF PINOY EDITION (SATURDAY) 23.1

16 ABS-CBN WANSAPANATAYM 22.2

17 ABS-CBN NASAAN KA, ELISA? 21.4

18 ABS-CBN MARIA LA DEL BARRIO 21.1

GMA AMAYA 20.9

GMA EAT... BULAGA! 20.9

ABS-CBN JUNIOR MASTER CHEF PINOY EDITION (SUNDAY) 20.9

20 ABS-CBN TODA MAX 20.8

FY 2011

19

9

Consumer Sales in Php Millions

1% YoY

0

2,000

4,000

6,000

8,000

10,000

12,000

2010 2011

10,552 10,622

6

Consumer Sales

7

0

2,000

4,000

6,000

8,000

10,000

12,000

Total ConsumerSales

ABS-CBN Global SkyCable Other Subs

10,552

5,266

3,930

1,356

10,622

4,8364,331

1,455

2010 2011

in Php Millions

1% YoY

8% YoY 10% YoY

7% YoY

ABS-CBN Global

8

~ 2.45 million viewers worldwide, almost flat vs. 2010

• Continued growth in Canada, Asia Pacific and Australia

• Decline in subscriber count in North America, Middle East, Europe and Japan

Sky Cable

Strong revenue growth, up 10% YoY

• 24% YoY increase in broadband revenue on the back of 18% YoY growth in subscriptions

• 8% YoY growth in post-paid cable subscriptions driven by the lower end Php 280 and Php 499 packages

9

ABS-CBN Film Productions

6 of 16 films released in 2011 broke

past the Php 100 million

mark in gross box office receipts

10 P282 M P342 M

-2,000

1,000

4,000

7,000

10,000

13,000

16,000

19,000

22,000

25,000

TOTAL Prod Cost COSS GAEX Others

23,515

7,8657,070

8,192

388

22,252

9,835

6,700 7,091

-1,374

2010 2011

11

Operating & Other Expenses in Php Millions

5% YoY

25% YoY 5% YoY 13% YoY

454% YoY

0

2,000

4,000

6,000

8,000

10,000

Production Cost Cash Non-cash

7,865

6,468

1,397

9,835

8,061

1,774

2010 2011

12

Production Cost in Php Millions

25% YoY

25% YoY

27% YoY

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

Total Cost ofSales andServices

ABS-CBN Global SkyCable Other Subs

7,070

2,680 2,786

1,604

6,700

2,274

3,003

1,423

2010 2011

13

Cost of Sales and Services in Php Millions

5% YoY

15% YoY

11% YoY

8% YoY

01,0002,0003,0004,0005,0006,0007,0008,0009,000

General &Administrative

Expenses

Cash Non-Cash

8,1927,496

696

7,0916,478

614

2010 201114

General & Administrative Expenses in Php Millions

13% YoY

12% YoY

14% YoY

0

1,000

2,000

3,000

2010 2011

3,178

2,420

Consolidated Net Income in Php Millions

24% YoY

15

Consolidated EBITDA in Php Millions

16

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

2010 2011

8,642

6,837 21% YoY

Capital Expenditure & Film Rights in Php Millions

14% YoY

0

1,000

2,000

3,000

4,000

5,000

6,000

2010 2011

3,684 4,205

17

Balance Sheet Accounts End December 31, 2011 vs. December 31, 2010

Total Assets Cash and Cash Equivalents Consolidated Trade & Other Receivables Day’s Sales Outstanding Total Interest Bearing Debt Shareholders’ Equity Net Debt-to-Equity Ratio

Php 44.8B Php8.6B Php8.1B 83 days Php12.5B Php20.3B 0.19x

15% 48% 12% 20 days 30% 15% 0.03x

19

MANAGEMENT’S DISCUSSION & ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2011

For the year ended December 31, 2011, ABS-CBN Corporation (“ABS-CBN” or the “Company”) generated

consolidated revenues of P28.2 billion from advertising and consumer sales, P4.1 billion or 13% lower year-

on-year. Minus the revenues of P3.1 billion from political advocacies and political advertisements in 2010,

consolidated revenues decreased by 4% year-on-year. Advertising revenues contributed 62% of total

consolidated revenues while consumer sales made up the balance of 38%.

Total operating and other expense in 2011 was at P22.3 billion, or a 5% decline year-on-year.

Reported net income was at P2.4 billion in 2011, inclusive of the P1.1 billion gain in sale of Sky Cable

Philippine Depositary Receipts (PDRs), a 24% decline year-on-year. Removing the effects of this one-time

gain in 2011 and P3.1 billion revenues generated from political advocacies and political advertisements in

2010, net income would still be down by 21% year-on-year.

Reported EBITDA reached P6.8 billion for the full year 2011, or a 21% decline year-on-year. Stripping the

one-time gain in 2011 and discarding the P3.1 billion revenues generated from political advocacies and

political advertisements in 2010, EBITDA would still be down by 14% year-on-year.

The table below summarizes the key performance indicators for the period as discussed above.

Key Performance Indicators

(Amounts in million Pesos) 2011 2010

Variance

Amount %

Consolidated Revenues 28,200 32,291 (4,091) (13)

Consolidated Advertising Revenues 17,578 21,739 (4,161) (19)

Consolidated Consumer Sales 10,622 10,552 70 1

Operating and Other Expenses 22,252 23,515 (1,263) (5)

Net Income 2,420 3,178 (758) (24)

EBITDA 6,837 8,642 (1,805) (21)

Consolidated Revenues

For 2011, ABS-CBN generated consolidated revenues of P28.2 billion from advertising revenues and

consumer sales, P4.1 billion or 13% lower year-on-year. Minus the revenues of P3.1 billion from political

advocacies and political advertisements in 2010, consolidated revenues would have decreased by 4% year-

on-year.

The contribution of consumer sales to total revenues is higher at 38% from 33% a year ago.

Consolidated Revenues

(Amounts in million Pesos) 2011 2010

Variance

Amount %

Consolidated Advertising Revenues 17,578 21,739 (4,161) (19)

Consumer Sales

Sale of Services 10,165 10,073 92 1

Sale of Goods 457 479 (22) (5)

Consolidated Consumer Sales 10,622 10,552 70 1

Consolidated Revenues 28,200 32,291 (4,091) (13)

Political Advocacies/Political Advertisements - 3,060 (3,060) (100)

Consolidated Revenues Net of Political Advocacies/

Political Advertisements 28,200 29,231 (1,031) (4)

Advertising Revenues

Consolidated advertising revenues across all platforms and subsidiaries declined by 19% to P17.6 billion.

However, minus the revenues of P3.1 billion from political advocacies and political advertisement in 2010,

advertising revenues decreased by 6% year-on-year. This decrease is attributable to a slowdown of

advertising spending by corporates.

ABS-CBN maintained its national audience share and ratings leadership with prime-time audience share

averaging 43% in 2011, with a 13 percentage point lead over GMA’s, based on the Kantar National TV Ratings.

For the full year 2011, twenty one of the company’s shows were in the Top 20, with the following occupying

the Top 18 slots: Emil Cruz Jr.’s Mara Clara, 100 Days to Heaven, PabloS. Gomez’s Mutya, Minsan Lang Kita

Iibigin, Ikaw ay Pag-ibig, Budoy, Maalaala Mo Kaya…, Noah, Pilipinas Got Talent (Sun), TV Patrol, Guns and

Roses, Pilipinas Got Talent (Sat), My Binondo Girl, Imortal, Rated K Handa Na Ba Kayo?,Junior Master Chef Pinoy

Edition (Sat), Wansapanataym, Nasaan Ka Elisa?, and Maria La Del Barrio

Consumer Sales

Consumer sales for the year 2011 amounted to P10.6 billion, or a 1% increase year-on-year. The increase is

largely attributable to Sky Cable’s growth in revenues. The increase is also partly due to the increase in sales

of other subsidiaries mainly ABS-CBN Film Productions, which grew 18% in 2011.

Consumer Sales 2011 2010

Variance

(Amounts in million Pesos) Amount %

ABS-CBN Global 4,836 5,266 (430) (8)

Sky Cable 4,331 3,930 401 10

Other subsidiaries 1,455 1,356 99 7

Consolidated Consumer Sales 10,622 10,552 70 1

Sky Cable’s consolidated revenues for the year from cable TV and broadband services grew 10% year-on-

year, driven by a 7% growth in postpaid revenues and a 24% growth in broadband revenues. Broadband

service subscriptions increased 18% year-on-year, while subscriptions to Sky Cable’s post-paid TV offering

grew by 8%.

ABS-CBN Global’s revenues declined year-on-year by 8% in peso terms or 4% in US dollar terms. The

stronger decline in peso terms was due to a 4% or P1.80 appreciation of the Philippine peso exchange rate

against the US dollar, from P45.10 in 2010 down to P43.30 in 2011.

ABS-CBN Global’s overall viewer count was an estimated 2.45 million at the end of 2011, almost flat

compared to the previous year. Double digit growth continued to be experienced in Canada, and single digit

growth in Asia-Pacific and Australia. However, there was a decline in subscriber count in North America,

Middle East, Europe and Japan.

ABS-CBN Film Productions, Inc. released 16 films in 2011, 4 films more than in 2010. Six of them–Ang

Tanging Ina Mo Last Na To, Dalaw, Catch Me I’m In Love , In The Name of Love , No Other Woman and Praybeyt

Benjamin–topped P100 million in box office receipts, earning blockbuster status by local standards. No Other

Woman , a co-production with Viva Films, grossed P282 million. Praybeyt Benjamin, also a co-production

with Viva Films, grossed P342 million.

Operating and Other Expenses

Total operating and other expense in 2011 was at P22.3 billion, or a 5% decline year-on-year.

Total Operating and Other Expenses 2011 2010

Variance

(Amounts in million Pesos) Amount %

Production Costs 9,835 7,865 1,970 25

Cost of Sales and Services 6,700 7,070 (370) (5)

General and Administrative Expenses 7,091 8,192 (1,101) (13)

Other Expenses (Income) (1,374) 388 (1,762) (454)

Consolidated Total Operating and Other Expenses 22,252 23,515 (1,263) (5)

Production Costs

Total production costs rose by almost P2.0 billion or 25% to P9.8 billion. Cash production costs went up by

P1.6 billion or 25% year-on-year, mostly from increases from talent fee adjustments, and from new programs

that brought talent fees, equipment rentals and service fees, and other expenses substantially higher.

Production Costs 2011 2010

Variance

(Amounts in million Pesos) Amount %

Personnel Expenses and Talent Fees 4,370 3,513 857 24

Facilities-Related Expenses 2,164 1,683 481 29

Other Program Expenses 1,527 1,272 255 20

Sub-total: Cash Production Costs 8,061 6,468 1,593 25

Non-Cash Production Costs 1,774 1,397 377 27

Consolidated Production Costs 9,835 7,865 1,970 25

Non-cash production costs went up by 27% to P1.8 billion, due to higher depreciation costs and amortization

of program rights.

Cost of Sales and Services

Cost of sales and services declined by 5% or P370 million to P6.7 billion.

ABS-CBN Global’s cost of sales declined 15% in peso terms declining faster than the 8% year-on-year

reduction in its sale of goods and services. Sky Cable’s cost of sales meanwhile, grew by 8% year-on-year,

slower than its 10% growth in gross revenue.

Cost of Sales and Services 2011 2010

Variance

(Amounts in million Pesos) Amount %

ABS-CBN Global 2,274 2,680 (406) (15)

Sky Cable 3,003 2,786 217 8

Other Subsidiaries 1,423 1,604 (181) (11)

Consolidated Cost of Sales and Services 6,700 7,070 (370) (5)

General and Administrative Expenses

Total General and Administrative Expenses (GAEX) posted a 13% or P1.1 billion year-on-year decline to P7.1

billion.

General and Administrative Expenses 2011 2010

Variance

(Amounts in million Pesos) Amount %

Personnel Expenses 3,627 4,471 (844) (19)

Contracted Services 790 782 8 1

Facilities-Related Expenses 515 536 (21) (4)

Depreciation and amortization 614 696 (82) (12)

Provision for Doubtful Accounts 255 420 (165) (39)

Other Expenses 1,290 1,287 3 -

Consolidated GAEX 7,091 8,192 (1,101) (13)

Cash GAEX went down by P1.0 billion to P6.5 billion, of which more than half is accounted for by personnel

expenses.

Net Income

The company generated a net income of P2.4 billion for the year 2011, inclusive of the P1.1 billion gain in sale

of Sky Cable PDRs, a 24% decline year-on-year. Removing the effects of this one-time gain in 2011 and P3.1

billion revenues generated from political advocacies and political advertisement in 2010, net income would

still be down by 21% year-on-year.

EBITDA

Earnings before interest, taxes, depreciation and amortization (EBITDA) for the year was at P6.8 billion, or a

21% decline year-on-year. Stripping the one-time gain in 2011 and removing the P3.1 billion revenues

generated from political advocacies and political advertisement in 2010, EBITDA would still be down by 14%

year-on-year.

Capital Expenditures

Capital expenditures and program rights acquisitions for 2011 amounted to P4.2 billion, P521 million or 14%

higher year-on-year. These are all programmed expenditures to increase the company’s capacity to produce

additional shows.

Balance Sheet Accounts

As at December 31, 2011, total consolidated assets stood at P44.8 billion, P5.8 billion or 15% higher than total

assets of P39.0 billion as at December 31, 2010.

Cash and cash equivalents of P8.6 billion is P2.8 billion or 48% higher than the December 31, 2010 balance.

Consolidated trade and other receivables stood at P8.1 billion, P880 million or 12% higher than as at the end

of 2010.

Days sales outstanding of 83 days is 20 days more than the 63 days as at December 31, 2010, as trade

accounts receivables amounting to P6.4 billion is P827 million or 15% higher than the P5.6 billion trade

accounts receivables at the end of 2010.

The corresponding increase in receivables and accretion of DSO are well anticipated with the removal of

discount schemes on prompt payment.

Total interest-bearing loans went up by P2.9 billion or 30% to P12.5 billion compared with P9.6 billion at the

end of last year.

Shareholders’ equity stood at P20.3 billion, P2.6 billion or 15% higher than the P17.7 billion shareholders’

equity at the end of December 2010.

The company’s net debt-to-equity ratio improved at 0.19x compared with the ratio at the end of last year of

0.22x.

The company’s debt ratios remain well within the limits prescribed under its loan covenants.