Presented to the Philippine Stock Exchange on January 15, 2009, GMA Network, Inc. discloses that it already disbursed almost PhP1.3 billion from the proceeds of its initial public offering to support various expansion programs in key cities in the Philippines. Expansion includes construction of broadcast facility, tower and transmitter upgrade for its Naga station; broadcast facility and transmitter tower for its Legazpi station; construction of transmitter tower and upgrading its General Santos station; and upgrading broadcast facilities, equipment and transmitter tower in Davao, Cebu, Guimaras, Bacolod, Iloilo, Batangas, Dagupan, Cagayan de Oro and Benguet.