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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000078150-05-000001.txt : 20050112
<SEC-HEADER>0000078150-05-000001.hdr.sgml : 20050112
<ACCEPTANCE-DATETIME>20050112060137
ACCESSION NUMBER:		0000078150-05-000001
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050112
FILED AS OF DATE:		20050112
DATE AS OF CHANGE:		20050112

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PHILIPPINE LONG DISTANCE TELEPHONE CO
		CENTRAL INDEX KEY:			0000078150
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-03006
		FILM NUMBER:		05524649

	BUSINESS ADDRESS:	
		STREET 1:		RAMON CONJUANGCO BLDG
		STREET 2:		MAKATI AVE
		CITY:			MAKATI METRO MANILA
		STATE:			R6
		ZIP:			0721
		BUSINESS PHONE:		0116328143552

	MAIL ADDRESS:	
		STREET 1:		RAMON CONJUANGCO BLDG
		STREET 2:		MAKATI AVE
		CITY:			MAKATI METRO MANILA
		STATE:			R6
		ZIP:			0721
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>firstpac_ussec1.htm
<DESCRIPTION>DISCLOSURE LETTER
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<div>

<p style='margin-top:0in' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-bottom:0in;margin-bottom:.0001pt;line-height:normal' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">SECURITIES
AND EXCHANGE COMMISSION</p>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Washington,
D.C.  20549</p>

<p style='margin-top:0in' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">FORM
6 -K</p>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">REPORT
OF FOREIGN PRIVATE ISSUER</p>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">PURSUANT
TO RULE 13a-16 or 15d-16 OF</p>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">THE
SECURITIES EXCHANGE ACT OF  1934</p>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Report on Form 6-K dated January 12, 2005</p>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">(Commission File No. 1-15024)</p>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">PHILIPPINE
LONG DISTANCE TELEPHONE COMPANY</p>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">(Name
of Registrant)</p>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-top:0in' style="margin-top:0;margin-bottom:0">Ramon Cojuangco Building</p>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Makati
Avenue, Makati City</p>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Philippines        0721</p>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">(Address
of Principal Executive Officers)</p>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify;text-indent:.5in' style="margin-top:0;margin-bottom:0">Indicate
by check mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40-F:</p>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<div align='center'><center><table style='font-family:arial,helvetica,sans-serif;font-size:9pt'  border=0 cellspacing=0 cellpadding=0
 style='margin-left:144.9pt;border-collapse:collapse'>
 <tr>
 <td  valign=top style=' padding:0in 5.4pt 0in 5.4pt'>
 <p style='text-align:justify' style="margin-top:0;margin-bottom:0">Form 20-F:  y</p>
 </td>
 <td  valign=top style=' padding:0in 5.4pt 0in 5.4pt'>
 <p style='text-align:justify' style="margin-top:0;margin-bottom:0">Form 40-F:  o</p>
 </td>
 </tr>
</table></center></div>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify;text-indent:.5in' style="margin-top:0;margin-bottom:0">Indicate
by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101 (b) (1):</p>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<div align='center'><center><table style='font-family:arial,helvetica,sans-serif;font-size:9pt'  border=0 cellspacing=0 cellpadding=0
 style='margin-left:144.9pt;border-collapse:collapse'>
 <tr>
 <td  valign=top style=' padding:0in 5.4pt 0in 5.4pt'>
 <p style='text-align:justify' style="margin-top:0;margin-bottom:0">Yes:  o</p>
 </td>
 <td  valign=top style=' padding:0in 5.4pt 0in 5.4pt'>
 <p style='text-align:justify' style="margin-top:0;margin-bottom:0">No:  y</p>
 </td>
 </tr>
</table></center></div>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify;text-indent:.5in' style="margin-top:0;margin-bottom:0">Indicate
by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation by Regulation S-T Rule 101 (b) (7):</p>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<div align='center'><center><table style='font-family:arial,helvetica,sans-serif;font-size:9pt'  border=0 cellspacing=0 cellpadding=0
 style='margin-left:144.9pt;border-collapse:collapse'>
 <tr>
 <td  valign=top style=' padding:0in 5.4pt 0in 5.4pt'>
 <p style='text-align:justify' style="margin-top:0;margin-bottom:0">Yes:  o</p>
 </td>
 <td  valign=top style=' padding:0in 5.4pt 0in 5.4pt'>
 <p style='text-align:justify' style="margin-top:0;margin-bottom:0">No:  y</p>
 </td>
 </tr>
</table></center></div>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify;text-indent:.5in' style="margin-top:0;margin-bottom:0">Indicate
by check mark whether the registrant by furnishing the information contained in
this form is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934:</p>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<div align='center'><center><table style='font-family:arial,helvetica,sans-serif;font-size:9pt'  border=0 cellspacing=0 cellpadding=0
 style='margin-left:144.9pt;border-collapse:collapse'>
 <tr>
 <td  valign=top style=' padding:0in 5.4pt 0in 5.4pt'>
 <p style='text-align:justify' style="margin-top:0;margin-bottom:0">Yes:  o</p>
 </td>
 <td  valign=top style=' padding:0in 5.4pt 0in 5.4pt'>
 <p style='text-align:justify' style="margin-top:0;margin-bottom:0">No:  y</p>
 </td>
 </tr>
</table></center></div>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style="margin-top:0;margin-bottom:0">Enclosure:</p>

<p style='text-align:justify;text-indent:42.0pt' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify;text-indent:42.0pt' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify;text-indent:42.0pt' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-left:0in;text-align:justify;
text-indent:.5in' style="margin-top:0;margin-bottom:0">A copy of the
disclosure letter we sent today to the Philippine Stock Exchange and the
Securities and Exchange Commission regarding the Reuters news wire entitled
&#147;First Pac sells $199 mln debt convertible to PLDT shrs&#148; and the related press
release which First Pacific Company Limited issued today in Hongkong.</p>

<p style='margin-left:0in;text-align:justify;
text-indent:.5in' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-left:.5in' style="margin-top:0;margin-bottom:0">  </p>

<p style='text-align:justify;text-indent:42.0pt' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p align=left style='margin-top:0in;text-align:left' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-bottom:0in;margin-bottom:.0001pt;line-height:normal' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0">&nbsp;</h6>

<p style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0">&nbsp;</h6>

<p style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0">&nbsp;</h6>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0">January 12, 2005</h6>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style="margin-top:0;margin-bottom:0">SECURITIES &amp; EXCHANGE COMMISSION</p>

<p style="margin-top:0;margin-bottom:0">Corporation Finance Department </p>

<p style="margin-top:0;margin-bottom:0">SEC Building, EDSA</p>

<p style="margin-top:0;margin-bottom:0">Mandaluyong City</p>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style="margin-top:0;margin-bottom:0">Attention:          Director  Justina F. Callangan</p>

<p style="margin-top:0;margin-bottom:0">                        Corporation Finance Department</p>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style="margin-top:0;margin-bottom:0">Gentlemen:</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">Re        :           Philippine
Long Distance Telephone Company</p>

<p style="margin-top:0;margin-bottom:0">                        SEC Registration No. PW-55</p>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">In compliance with Section
17.1(b) of the Securities Regulation Code and SRC Rule 17.1, we submit herewith
five (5) copies of our letter dated January 12, 2005 to the Philippine Stock
Exchange, Inc. regarding the Reuters news wire entitled
&#147;First Pac sells $199 mln debt convertible to PLDT shrs&#148; and the related
press release which First Pacific Company Limited issued today in Hongkong. </p>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">Respectfully yours,</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">MA. LOURDES C. RAUSA-CHAN</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">Corporate Secretary</p>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style="margin-top:0;margin-bottom:0">Encs.</p>

<b><br clear=all
style='page-break-before:always'>
</b>

<p style='margin-bottom:0in;margin-bottom:.0001pt;line-height:normal' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-bottom:0in;margin-bottom:.0001pt;line-height:normal' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-top:0in' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-top:0in' style="margin-top:0;margin-bottom:0">SECURITIES AND EXCHANGE COMMISSION</p>

<p align=left style='margin-top:0in;text-align:left' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">SEC FORM 17-C</p>

<p align=left style='margin-top:0in;text-align:left' style="margin-top:0;margin-bottom:0"><b>&nbsp;</b></p>

<p style='margin-top:0in' style="margin-top:0;margin-bottom:0">CURRENT REPORT UNDER SECTION 17</p>

<p style='margin-top:0in' style="margin-top:0;margin-bottom:0">OF THE SECURITIES REGULATION CODE</p>

<p style='margin-top:0in' style="margin-top:0;margin-bottom:0">AND SRC RULE 17.1</p>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-left:.5in;text-align:justify;text-indent:-.5in' style="margin-top:0;margin-bottom:0">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
12 January 2005</p>

<p style='margin-left:.5in;text-align:justify' style="margin-top:0;margin-bottom:0">Date of Report (Date of earliest event reported)</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-left:.5in;text-align:justify;text-indent:-.5in' style="margin-top:0;margin-bottom:0">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
SEC Identification Number PW-55</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-left:.5in;text-align:justify;text-indent:-.5in' style="margin-top:0;margin-bottom:0">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
BIR Tax Identification No. 000-488-793</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-left:.5in;text-indent:-.5in' style="margin-top:0;margin-bottom:0">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
PHILIPPINE
LONG DISTANCE TELEPHONE COMPANY</p>

<p style='text-indent:.5in' style="margin-top:0;margin-bottom:0">Exact name of issuer as specified in its charter</p>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-left:.5in;text-indent:-.5in' style="margin-top:0;margin-bottom:0">5.         PHILIPPINES                                                 6.
_____________ (SEC Use Only)  </p>

<p style='margin-left:.5in' style="margin-top:0;margin-bottom:0">Province, country or other jurisdiction                   Industry
Classification Code</p>

<p style='text-align:justify;text-indent:.5in' style="margin-top:0;margin-bottom:0">of Incorporation</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">7.         Ramon
Cojuangco Building, Makati Avenue, Makati City                          1200 </p>

<p style="margin-top:0;margin-bottom:0">Address of principal office                                                                  Postal
Code</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">8.         (632)
814-3664 </p>

<p style='margin-left:.5in' style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0">Issuer's telephone number, including area code</h4>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">9.         Not
Applicable </p>

<p style='text-align:justify;text-indent:.5in' style="margin-top:0;margin-bottom:0">Former name or former address, if changed since last report</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-left:.5in;text-align:justify;text-indent:-.5in' style="margin-top:0;margin-bottom:0">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Securities registered pursuant to
Sections 8 and 12 of the Securities Regulation Code or Sections 4 and 8 of the
Revised Securities Act</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<div align='center'><center><table style='font-family:arial,helvetica,sans-serif;font-size:9pt'  border=0 cellspacing=0 cellpadding=0  style='width:437.4pt;margin-left:41.4pt;border-collapse:collapse'>
 <tr>
 <td  valign=top style=' padding:0in 5.4pt 0in 5.4pt'>
 <p align=left style='margin-top:0in;text-align:left' style="margin-top:0;margin-bottom:0">Title of Each Class</p>
 </td>
 <td  valign=top style=' padding:0in 5.4pt 0in 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Number of Shares of Common Stock</p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Licensed and Amount of Debt Outstanding</p>
 </td>
 </tr>
</table></center></div>

<p style='margin-left:.5in;text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-left:.5in;text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-left:.5in;text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-left:.5in;text-indent:-.5in' style="margin-top:0;margin-bottom:0">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Item
9 &#150; Other Events</p>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">            Attached hereto
is a copy of our letter to the Philippine Stock Exchange, Inc. (&#147;PSE&#148;) dated
January 12, 2005 in connection with the information regarding the
Reuters news wire entitled  &#147;First Pac sells $199 mln debt
convertible to PLDT shrs&#148;.</p>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-left:.5in' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">SIGNATURE</p>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style="margin-top:0;margin-bottom:0">            Pursuant to the requirements of the Securities Regulation
Code, the Issuer has duly caused this report to be signed on its behalf by the
undersigned hereto duly authorized.</p>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style="margin-top:0;margin-bottom:0">                                                   </p>

<div align='center'><center><table style='font-family:arial,helvetica,sans-serif;font-size:9pt'  border=0 cellspacing=0 cellpadding=0
 style='border-collapse:collapse'>
 <tr>
 <td  valign=top style=' padding:0in 5.4pt 0in 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' padding:0in 5.4pt 0in 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">PHILIPPINE LONG
 DISTANCE</p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">TELEPHONE COMPANY</p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">MA.
 LOURDES C. RAUSA-CHAN</p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Corporate
 Secretary</p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 </tr>
</table></center></div>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0">Date: 12 January 2005</h6>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">Distribution Copies:      5
copies &#150; Securities &amp; Exchange Commission</p>

<p style='text-align:justify;text-indent:.5in' style="margin-top:0;margin-bottom:0">                        1
copy    - Philippine Stock Exchange</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">                                    1
copy    - Company Secretary</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<div align='center'><center><table style='font-family:arial,helvetica,sans-serif;font-size:9pt'  border=0 cellspacing=0 cellpadding=0
 style='border-collapse:collapse'>
 <tr style='height:12.6pt'>
 <td  valign=top style=' padding:0in 5.4pt 0in 5.4pt;
 height:12.6pt'>
 <p style='text-align:justify' style="margin-top:0;margin-bottom:0">January 12, 2005</p>
 </td>
 <td  valign=top style=' padding:0in 5.4pt 0in 5.4pt;
 height:12.6pt'>
 <p style="margin-top:0;margin-bottom:0">SECURITY CODE:  CM-040</p>
 </td>
 </tr>
</table></center></div>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">The Philippine Stock Exchange</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">Listing and Disclosure Group</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">4<sup>th</sup> Floor
Philippine Stock Exchange Centre</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">Exchange Road, Ortigas Center</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">Pasig City</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">Attention:            Ms.
Jurisita M. Quintos </p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">
Senior Vice President</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">Ladies and Gentlemen:</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">We refer to your fax letter
dated January 12, 2005 requesting for information regarding the Reuters news
wire entitled  &#147;First Pac sells $199 mln debt convertible to PLDT shrs&#148;.</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">Enclosed is a copy of the
related press release which First Pacific Company Limited issued today in
Hongkong. </p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">Thank you.</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">Very truly yours, </p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0"> </p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0"> MA. LOURDES C. RAUSA-CHAN</p>

<p style='text-align:justify' style="margin-top:0;margin-bottom:0">Corporate Secretary</p>

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<p style="margin-top:0;margin-bottom:0"><u>FIRST
PACIFIC COMPANY LIMITED</u></p>

<p style="margin-top:0;margin-bottom:0"><u>PRESS
RELEASE</u></p>

<p style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='line-height:12.5pt' style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0">Wednesday,
12 January 2005</h4>

<p style='text-align:justify;line-height:12.5pt' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p align=left style='text-align:left;line-height:12.5pt' style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0">FIRST PACIFIC LAUNCHES
FIVE YEAR US$199 MILLION </h3>

<p align=left style='text-align:left;line-height:12.5pt' style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0">EXCHANGEABLE NOTES ISSUE</h3>

<p style='line-height:12.5pt' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify;line-height:12.5pt' style="margin-top:0;margin-bottom:0">First
Pacific Company Limited (&#147;First Pacific&#148;; HKSE stock code 142) today announced
the launch of a US$199 million five (5) year Zero Coupon Exchangeable Notes
(the &#147;Notes&#148;) through its wholly-owned subsidiary, First Pacific Finance
Limited (&#147;FPF&#148;).  The <a name="_DV_M13"></a>Notes are unsecured obligations of
FPF and are guaranteed by First Pacific. </p>

<p style='text-align:justify;line-height:12.5pt' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify;line-height:12.5pt' style="margin-top:0;margin-bottom:0">The
five year Notes will have zero coupon and a yield to maturity of 5.625 per cent
per annum.  Investors have the option to put the Notes to FPF at 118.11 per
cent of par value on the third anniversary of the Notes.  However, FPF can buy
back the Notes for cash starting from the fourth year if the value of the
common shares of Philippine Long Distance Telephone Company (&#147;PLDT&#148;)
exchangeable into the Notes trade at a price higher than 30 per cent of the
principal and accreted redemption premium of the Notes.</p>

<p style='text-align:justify;line-height:12.5pt' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify;line-height:12.5pt' style="margin-top:0;margin-bottom:0">The
Notes will carry a conversion premium of 21 per cent on the day of launch,
which translates into a conversion price of Pesos 1,645.6 per common share of
PLDT.  On maturity, the conversion price would accrete to Pesos 2,171.7 per
common share of PLDT.  In the event conversion in full happens, the Notes will
exchange into approximately 6.8 million common shares of PLDT, representing
approximately 4 per cent of its total outstanding common shares.  Under the
terms of the Notes, First Pacific has the option to settle in cash the Exchange
Rights of the Note holders.  </p>

<p style='text-align:justify;line-height:12.5pt' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify;line-height:12.5pt' style="margin-top:0;margin-bottom:0">The
net proceeds are estimated to be approximately US$194 million and will be used
by First Pacific for general corporate purposes including acquisitions in line
with the company&#146;s principal strategic objectives, repayment of debt and
working capital (however, no specific acquisition is currently contemplated).</p>

<p style='text-align:justify;line-height:12.5pt' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify;line-height:12.5pt' style="margin-top:0;margin-bottom:0">M. V.
Pangilinan, Managing Director and Chief Executive Officer of First Pacific,
commented that  &#147;These Exchangeable Notes enable First Pacific to optimize the
value of one of its core assets, i.e. its shareholding in PLDT, to raise
financing on attractive terms.  The Notes represent an efficient form of
financing for us, with the aggregate value of the Notes in excess of the market
value of the underlying PLDT common shares.  Also, the Notes represent
unsecured obligations at interest rates that are comparatively lower than our
historic cost of borrowing.  On the whole, this financing exercise will
strengthen our financial position and supply us with the resources to grow our
investments, as well as capture potential expansion opportunities available in
the region.&#148; </p>

<p style='text-align:justify;line-height:12.5pt' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify;line-height:12.5pt' style="margin-top:0;margin-bottom:0">Mr.
Pangilinan added: &#147;Let me emphasize that First Pacific has no plans whatsoever
of disposing or relinquishing our substantial interest in PLDT.  There are cash
settlement options under the Notes which we can use to satisfy the exchange
rights, thereby enabling us to maintain our current investment level in PLDT.
This is simply a financing exercise and it is fully our intention to maintain
our present level of investment in PLDT.&#148;</p>

<p style='text-align:justify;line-height:12.5pt' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p align=center style='text-align:center;line-height:12.5pt' style="margin-top:0;margin-bottom:0">*
*     *</p>

<p style="margin-top:0;margin-bottom:0"><i>&nbsp;</i></p>

<p style='line-height:12.0pt' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='line-height:12.0pt' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='line-height:12.0pt' style="margin-top:0;margin-bottom:0">For further information,
please contact:</p>

<p style='margin-left:9.0pt;text-align:justify;text-indent:
- -9.0pt;line-height:12.0pt' style="margin-top:0;margin-bottom:0">                                                                              </p>

<p style='text-align:justify;line-height:12.0pt' style="margin-top:0;margin-bottom:0">Sara
Cheung                                            Tel:  (852) 2842 4336</p>

<p style='text-align:justify;line-height:12.0pt' style="margin-top:0;margin-bottom:0">Assistant
Vice President                                          </p>

<p style='text-align:justify;line-height:12.0pt' style="margin-top:0;margin-bottom:0">Group
Corporate Communications                          </p>

<p style='text-align:justify;line-height:12.0pt' style="margin-top:0;margin-bottom:0">First
Pacific Company Limited</p>

<p style='text-align:justify;line-height:12.0pt' style="margin-top:0;margin-bottom:0">                                                                                    </p>

<p style='line-height:12.0pt' style="margin-top:0;margin-bottom:0">or visit <u>www.firstpacco.com</u></p>

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<p style="margin-top:0;margin-bottom:0">SIGNATURES</p>

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<p style='text-align:justify;text-indent:.5in' style="margin-top:0;margin-bottom:0">Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant had duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.</p>

<p align=left style='text-align:left' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p align=left style='text-align:left' style="margin-top:0;margin-bottom:0">&nbsp;</p>

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<p align=right style='text-align:right' style="margin-top:0;margin-bottom:0">PHILIPPINE LONG
DISTANCE TELEPHONE COMPANY</p>

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<p style='text-align:justify;text-indent:3.0in' style="margin-top:0;margin-bottom:0">By:
MA. LOURDES C. RAUSA-CHAN</p>

<p style='text-align:justify;text-indent:3.75in' style="margin-top:0;margin-bottom:0">Corporate Secretary</p>

<p align=left style='text-align:left' style="margin-top:0;margin-bottom:0">&nbsp;</p>

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<p align=left style='text-align:left' style="margin-top:0;margin-bottom:0">Date:
January 12, 2005 </p>

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