EXHIBIT 99.1

This Statement on Form 3 is filed jointly by the Reporting Persons listed below.  The principal business address of each of these Reporting Persons is 333 South Grand Avenue, 28th Fl., Los Angeles, CA 90071.

Name of Designated Filer: Oaktree Capital Group Holdings GP, LLC

Date of Event Requiring Statement: October 7, 2011

Issuer Name and Ticker or Trading Symbol:  First BanCorp [FBP]

OAKTREE PRINCIPAL FUND V (DELAWARE), L.P.
By:	Oaktree Fund GP, LLC, its general partner
By:	Oaktree Fund GP I, L.P., its managing member
By:	/s/ Lisa Arakaki
	Name:  Lisa Arakaki
	Title:  Authorized Signatory
By:	/s/ Martin Boskovich
	Name:  Martin Boskovich
	Title:  Authorized Signatory
OAKTREE FF INVESTMENT FUND AIF (DELAWARE), L.P.
By:	Oaktree Fund AIF Series, L.P. — Series I, its general partner
By:	Oaktree Fund GP AIF, LLC, its general partner
By:	Oaktree Fund GP III, L.P., its managing member
By:	/s/ Lisa Arakaki
	Name:  Lisa Arakaki
	Title:  Authorized Signatory
By:	/s/ Martin Boskovich
	Name:  Martin Boskovich
	Title:  Authorized Signatory
OAKTREE FUND AIF SERIES, L.P. — SERIES I
By:	Oaktree Fund GP AIF, LLC, its general partner
By:	Oaktree Fund GP III, L.P., its managing member
By:	/s/ Lisa Arakaki
	Name:  Lisa Arakaki
	Title:  Authorized Signatory
By:	/s/ Martin Boskovich
	Name:  Martin Boskovich
	Title:  Authorized Signatory

OAKTREE FUND GP AIF, LLC
By:	Oaktree Fund GP III, L.P., its managing member
By:	/s/ Lisa Arakaki
	Name:  Lisa Arakaki
	Title:  Authorized Signatory
By:	/s/ Martin Boskovich
	Name:  Martin Boskovich
	Title:  Authorized Signatory
OAKTREE FUND GP III, L.P.
By:	/s/ Lisa Arakaki
	Name:  Lisa Arakaki
	Title:  Authorized Signatory
By:	/s/ Martin Boskovich
	Name:  Martin Boskovich
	Title:  Authorized Signatory

OAKTREE AIF INVESTMENTS, L.P.
By:	Oaktree AIF Holdings, Inc., its general partner
By:	/s/ Lisa Arakaki
	Name: Lisa Arakaki
	Title: Managing Director and Assistant Secretary
By:	/s/ Martin Boskovich
	Name: Martin Boskovich
	Title: Senior Vice President
OAKTREE AIF HOLDINGS, INC.
By:	/s/ Lisa Arakaki
	Name:  Lisa Arakaki
	Title: Managing Director and Assistant Secretary
By:	/s/ Martin Boskovich
	Name:  Martin Boskovich
	Title: Senior Vice President