ANGELES CITY -- A businessman who was abducted on Thursday was reportedly released by his captors at dawn on Saturday.

Reports said the businessman--whose name was withheld by authorities for security reasons--was freed shortly after a reported pay off at the back of the Rafael Lazatin Memorial Medical Center (ONA) around 2:20 a.m.

The businessman, who is co-owner of a construction supply firm here, was reportedly released along the Pampang Road at the other side of the hospital situated in Barangay Pampang.

A witness told policemen that the businessman was kidnapped by about eight men around 8:30 a.m. along Jake Gonzales Boulevard in this city on Thursday.

The suspects, who were all wearing bonnets that covered their faces, allegedly dragged the victim who was then shouting for help into a white van with license plate NBQ 278, it was learned.

Witnesses told the police that the van sped south towards the city proper where it passed an adjacent police precinct.

Another witness reported the incident to Police Station 6 which immediately issued a flash alarm.

The city police failed to intercept the van which they believed headed to a village in nearby Mexico town.