QCPD chief Senior Superintendent Magtanggol Gatdula said one of the suspects, Louie Anthony Alaban, 24, had just been released from prison after serving a sentence for robbery.
The two other suspects, however, remained unidentified as of press time. They were merely described as medium-built men who are between 25 and 30 years old.
Police said the three men posed as passengers and flagged down a taxi driven by Roldan Aninion at around 3 a.m.
The suspects told Aninion to bring them to Camp Crame but upon reaching the GMA flyover on EDSA, the men suddenly pulled out guns and robbed Aninion.
They commandeered the taxi and tied Aninion in the back seat. He was eventually abandoned along Roces Avenue.
A passerby rescued Aninion, who then reported the incident to the police.
A police dragnet was put up and the taxi was spotted in nearby Mother Ignacia Street. Police flagged down the taxi but the suspects opened fire at them, resulting to the shootout.
One of the gunmen was killed on the spot and the two others later died of gunshot wounds at East Avenue Medical Center.
"Actually there were four suspects. The other one managed to flee," Gatdula said.