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Manila (ANTARA News / Reuters) - Philippine troops and police rescued a Swiss-born businessman from armed men who held more than two months in a remote southern province, military officials said aNd local pemeirntah, Wednesday.

Charlie Reith, 72 years old was found in a forest before dawn Wednesday in one coastal village of Zamboanga City when the elite forces attacked the kidnappers' lair after receiving reports from some local residents, said the young Admiral Alexander Pama told reporters.

Pama said the businessmen who have become citizens of the Philippines was held for ransom demanded by a group of guerrillas who have links with Abu Sayyaf or the Moro Islamic Liberation Front (MILF) rebels operating in the Zamboanga peninsula.

Reith received some German visitors at his home on the coast of Zamboanga City when armed men attacked them and dragged him into a boat motor 4 April. They initially demanded a ransom 50 million pesos (1.08 million dollars) for his release, but later reduced to 20 million pesos.