EXHIBIT 99.1

This Statement on Form 4 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 26, 2011

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

OAKTREE FUND GP, LLC
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 FUND GP I, L.P.
By:	/s/ Lisa Arakaki
	Name: Lisa Arakaki
	Title: Authorized Signatory
By:	/s/ Martin Boskovich
	Name: Martin Boskovich
	Title: Authorized Signatory
OAKTREE CAPITAL I, L.P.
By:	OCM Holdings I, LLC,
	its General Partner
By:	/s/ Lisa Arakaki
	Name: Lisa Arakaki
	Title: Managing Director
By:	/s/ Martin Boskovich
	Name: Martin Boskovich
	Title: Senior Vice President

OCM HOLDINGS I, LLC
By:	/s/ Lisa Arakaki
	Name: Lisa Arakaki
	Title: Managing Director
By:	/s/ Martin Boskovich
	Name: Martin Boskovich
	Title: Senior Vice President
OAKTREE HOLDINGS, LLC
By:	Oaktree Capital Group, LLC,
	its Managing Member
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 CAPITAL GROUP, LLC
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 CAPITAL GROUP HOLDINGS, L.P.
By:	Oaktree Capital Group Holdings GP, LLC,
	its general partner
By:	/s/ Lisa Arakaki
	Name: Lisa Arakaki
	Title: Managing Director
By:	/s/ Martin Boskovich
	Name: Martin Boskovich
	Title: Senior Vice President
OAKTREE CAPITAL GROUP HOLDINGS GP, LLC
By:	/s/ Lisa Arakaki
	Name: Lisa Arakaki
	Title: Managing Director
By:	/s/ Martin Boskovich
	Name: Martin Boskovich
	Title: Senior Vice President