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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000078150-06-000038.txt : 20060808
<SEC-HEADER>0000078150-06-000038.hdr.sgml : 20060808
<ACCEPTANCE-DATETIME>20060808060231
ACCESSION NUMBER:		0000078150-06-000038
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060808
FILED AS OF DATE:		20060808
DATE AS OF CHANGE:		20060808

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:		061010849

	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>fs_cashdiv.htm
<DESCRIPTION>PRESS RELEASE AND CASH DIVIDEND DECLARATION
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</head>

<body style='font-family:arial,helvetica,sans-serif;font-size:9pt'  lang=EN-US>

<div>

<p align=center style='margin:0pt;margin-bottom:.0001pt;text-align:
center' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p align=center style='margin:0pt;margin-bottom:.0001pt;text-align:
center' style="margin-top:0;margin-bottom:0"><br>
SECURITIES AND EXCHANGE COMMISSION<br>
 Washington, D.C. 20549 </p>

<p 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">Report of Foreign Private Issuer </p>

<p align=center style='margin:0pt;margin-bottom:.0001pt;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">Pursuant to Rule 13a-16 or 15d-16 <br>
of the Securities Exchange Act of 1934</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"><b>For the month of August 2006</b></h4>

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

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

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>Commission File Number 1-03006</b></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">Philippine Long Distance Telephone Company</h3>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">(Exact Name of Registrant as
Specified in Its Charter)</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"><b>Ramon</b><b> Cojuangco Building</b></p>

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

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

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

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">(Address of principal executive
offices)</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;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">(Indicate by check mark
whether the registrant files or will file annual reports under cover Form 20-F
or Form 40-F.)</p>

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

<p style='margin-left:72.0pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">Form
20-F      &#214;                                  Form
40-F</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-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">(Indicate by check mark
whether by furnishing the information contained in this Form, the registrant is
also thereby furnishing the information to the Commission pursuant to Rule
12g3-2(b) under the Securities Exchange Act of 1934.)</p>

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

<p style='margin-left:72.0pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">
Yes                                                        No       &#214;</p>

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

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

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">(If &quot;Yes&quot; is
marked, indicate below the file number assigned to the registrant in connection
with Rule 12g3-2(b): 82- ________ )</p>

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

<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">NOTE REGARDING
FORWARD-LOOKING STATEMENTS</p>

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

<p style='margin-bottom:12.0pt;text-indent:36.0pt' style="margin-top:0;margin-bottom:0">Some information in this report may contain
forward-looking statements within the meaning of Section 27A of the U.S.
Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of
1934.  We have based these forward-looking statements on our current beliefs,
expectations and intentions as to facts, actions and events that will or may
occur in the future.  Such statements generally are identified by
forward-looking words such as &#147;believe,&#148; &#147;plan,&#148; &#147;anticipate,&#148; &#147;continue,&#148; &#147;estimate,&#148;
&#147;expect,&#148; &#147;may,&#148; &#147;will&#148; or other similar words.</p>

<p style='margin-bottom:12.0pt;text-indent:36.0pt' style="margin-top:0;margin-bottom:0">A forward-looking statement may include a
statement of the assumptions or bases underlying the forward-looking
statement.  We have chosen these assumptions or bases in good faith.  These
forward-looking statements are subject to risks, uncertainties and assumptions,
some of which are beyond our control.  In addition, these forward-looking
statements reflect our current views with respect to future events and are not
a guarantee of future performance.  Actual results may differ materially from
information contained in the forward-looking statements as a result of a number
of factors, including, without limitation, the risk factors set forth in
&#147;Item&nbsp;3. Key Information &#150; Risk Factors&#148; in our annual report on Form 20-F
for the fiscal year ended December 31, 2005.  You should also keep in mind that
any forward-looking statement made by us in this report or elsewhere speaks
only as at the date on which we made it.  New risks and uncertainties come up
from time to time, and it is impossible for us to predict these events or how
they may affect us.  We have no duty to, and do not intend to, update or revise
the statements in this report after the date hereof.  In light of these risks
and uncertainties, you should keep in mind that actual results may differ
materially from any forward-looking statement made in this report or elsewhere.</p>

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

<p align=center style='margin-top:0pt;margin-right:10.35pt;margin-bottom:0pt;
margin-left:9.0pt;margin-bottom:.0001pt;text-align:center' style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0">&nbsp;</h1>

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

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

<p align=center style='margin-top:0pt;margin-right:10.35pt;margin-bottom:0pt;
margin-left:9.0pt;margin-bottom:.0001pt;text-align:center' style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0"><b>EXHIBITS</b></h1>

<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='width:428.75pt;border-collapse:collapse'>
 <tr>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><u>Exhibit Number</u></p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><u>&nbsp;</u></p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><u>Page</u></p>
 </td>
 </tr>
 <tr>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">1</p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='margin-right:12.6pt;text-align:justify;text-justify:
 inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 <p style='margin-right:12.6pt;text-indent:0pt' 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 cash dividend declaration on the Company&#146;s Common Capital Stock and
 Series B, F, Q, V and Z 10% Cumulative Convertible Preferred Stock.</p>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">4</p>
 </td>
 </tr>
 <tr>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">2</p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='margin-right:12.6pt;text-align:justify;text-justify:
 inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 <p style="margin-top:0;margin-bottom:0">A copy of SEC
 Form 17-C with a press release attached thereto regarding the Company&#146;s
 financial condition and results of operations for the six (6) months ended
 June 30, 2006.</p>
 <p style='margin-right:12.6pt;text-align:justify;text-justify:
 inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">10</p>
 </td>
 </tr>
</table></center></div>

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

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

<p align=right style='margin-top:0pt;;
margin-bottom:0pt;margin-left:216.0pt;margin-bottom:.0001pt;text-align:right;
text-indent:40.5pt' style="margin-top:0;margin-bottom:0">Exhibit
1</p>

<p style='margin-left:216.0pt;text-align:justify;text-justify:
inter-ideograph;text-indent:40.5pt' style="margin-top:0;margin-bottom:0">August
8, 2006</p>

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

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

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">4/F Philippine Stock Exchange Center</p>

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

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

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

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

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">                                                                     <u>SVP
&#150; Operations Group </u></p>

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

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

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">            In compliance with the
disclosure requirements of the Philippine Stock Exchange, we advise that during
the meeting of the Board of Directors of our Company on August 8, 2006, the
following cash dividends were declared out of the unrestricted retained
earnings of the Company as of December 31, 2005:</p>

<p style='margin-top:0pt;margin-right:36.0pt;margin-bottom:
0pt;margin-left:36.0pt;margin-bottom:.0001pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-top:0pt;margin-right:19.3pt;margin-bottom:
0pt;margin-left:58.5pt;margin-bottom:.0001pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-22.5pt' style="margin-top:0;margin-bottom:0"><a name="OLE_LINK1">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
P50.00 per outstanding
share of the Company&#146;s Common Capital Stock, payable on September 21, 2006 to
the holders of record on August 21, 2006.</a></p>

<p style='margin-top:0pt;margin-right:19.3pt;margin-bottom:
0pt;margin-left:36.0pt;margin-bottom:.0001pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-top:0pt;margin-right:36.0pt;margin-bottom:
0pt;margin-left:58.5pt;margin-bottom:.0001pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-22.5pt' style="margin-top:0;margin-bottom:0">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
P1.00 per outstanding
share of the Company&#146;s Series B 10% Cumulative Convertible Preferred Stock, for
the annual period ending August 31, 2006, payable on September 29, 2006, to the
holders of record on September 1, 2006.</p>

<p style='margin-right:36.0pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-top:0pt;margin-right:36.0pt;margin-bottom:
0pt;margin-left:58.5pt;margin-bottom:.0001pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-22.5pt' style="margin-top:0;margin-bottom:0">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
P1.00 per outstanding
share of the Company&#146;s Series F 10% Cumulative Convertible Preferred Stock, for
the annual period ending August 31, 2006, payable on September 29, 2006, to the
holders of record on September 1, 2006.</p>

<p style='margin-right:36.0pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-top:0pt;margin-right:36.0pt;margin-bottom:
0pt;margin-left:58.5pt;margin-bottom:.0001pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-22.5pt' style="margin-top:0;margin-bottom:0">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
P1.00 per outstanding
share of the Company&#146;s Series Q 10% Cumulative Convertible Preferred Stock, for
the annual period ending August 31, 2006, payable on September 29, 2006, to the
holders of record on September 1, 2006.</p>

<p style='margin-right:36.0pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-top:0pt;margin-right:36.0pt;margin-bottom:
0pt;margin-left:58.5pt;margin-bottom:.0001pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-22.5pt' style="margin-top:0;margin-bottom:0">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
P1.00 per outstanding
share of the Company&#146;s Series V 10% Cumulative Convertible Preferred Stock, for
the annual period ending August 31, 2006, payable on September 29, 2006, to the
holders of record on September 1, 2006.</p>

<p style='margin-right:36.0pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-top:0pt;margin-right:36.0pt;margin-bottom:
0pt;margin-left:58.5pt;margin-bottom:.0001pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-22.5pt' style="margin-top:0;margin-bottom:0">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
P1.00 per outstanding
share of the Company&#146;s Series Z 10% Cumulative Convertible Preferred Stock, for
the annual period ending August 31, 2006, payable on September 29, 2006, to the
holders of record on September 1, 2006.</p>

<p style='margin-right:36.0pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-right:42.3pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">            Thank
you.</p>

<p style='margin-top:0pt;margin-right:42.3pt;margin-bottom:
0pt;margin-left:180.0pt;margin-bottom:.0001pt;text-align:justify;text-justify:
inter-ideograph;text-indent:36.0pt' style="margin-top:0;margin-bottom:0"> </p>

<p style='margin-top:0pt;margin-right:42.3pt;margin-bottom:
0pt;margin-left:180.0pt;margin-bottom:.0001pt;text-align:justify;text-justify:
inter-ideograph;text-indent:36.0pt' style="margin-top:0;margin-bottom:0">
Very truly yours,</p>

<p style='margin-right:42.3pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-left:216.0pt' style="margin-top:0;margin-bottom:0"><u>/s/ Ma. Lourdes C. Rausa-Chan</u></p>

<p align=left style='text-align:left;text-indent:210.0pt' style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0">MA. LOURDES C. RAUSA-CHAN</h4>

<p style='margin-right:42.3pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">
Corporate Secretary</p>

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

<div align='center'><center><table style='font-family:arial,helvetica,sans-serif;font-size:9pt'  cellpadding=0 cellspacing=0 align=left>
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 <div style='padding:3.6pt 7.2pt 3.6pt 7.2pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Page 1 of 4</p>
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 &nbsp;</td>
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<br clear=all style='page-break-before:
always'>
Exhibit 1</p>

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

<p style='text-align:justify;text-justify:inter-ideograph' 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=1 cellspacing=0 cellpadding=0
 style='border-collapse:collapse;border:none'>
 <tr>
 <td  valign=top style=' border:none;border-right:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">P</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">W</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">-</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">5</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">5</p>
 </td>
 </tr>
 <tr>
 <td  valign=top style=' border:none;border-right:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  colspan=5 valign=top style=' border-top:none;
 border-left:none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">SEC Registration No.</p>
 </td>
 </tr>
</table></center></div>

<p style='text-align:justify;text-justify:inter-ideograph' 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=1 cellspacing=0 cellpadding=0
 style='border-collapse:collapse;border:none'>
 <tr>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">P</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">H</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">I</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">L</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">I</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">P</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">P</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">I</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">N</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">E</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">L</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">O</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">N</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">G</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">D</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">I</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">S</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">T</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">A</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">N</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">C</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">E</p>
 </td>
 </tr>
</table></center></div>

<p style='text-align:justify;text-justify:inter-ideograph' 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=1 cellspacing=0 cellpadding=0
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 <td  valign=top style=' border:solid windowtext 1.0pt;
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 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
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 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">T</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">E</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">L</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">E</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">P</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">H</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">O</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">N</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">E</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">C</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">O</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">M</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">P</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">A</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">N</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Y</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 </tr>
</table></center></div>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">(Company&#146;s Full Name)</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=1 cellspacing=0 cellpadding=0
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 padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">R</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">A</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">M</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">O</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">N</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">C</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">O</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">J</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">U</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">A</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">N</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">G</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">C</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">O</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">B</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">U</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">I</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">L</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">D</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">I</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">N</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">G</p>
 </td>
 </tr>
</table></center></div>

<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=1 cellspacing=0 cellpadding=0
 style='border-collapse:collapse;border:none'>
 <tr>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">M</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">A</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">K</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">A</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">T</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">I</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">A</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">V</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">E.</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">M</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">A</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">K</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">A</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">T</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">I</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">C</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">I</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">T</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Y</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 </tr>
</table></center></div>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">(Business Address: No.
Street/City/Town/Province)</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=1 cellspacing=0 cellpadding=0
 style='border-collapse:collapse;border:none'>
 <tr>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">ATTY. MA. LOURDES C. RAUSA-CHAN</p>
 </td>
 <td  valign=top style=' border:none;border-right:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">816-8405</p>
 </td>
 </tr>
 <tr>
 <td  valign=top style=' border:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Contact person</p>
 </td>
 <td  valign=top style=' border:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Contact Telephone No.</p>
 </td>
 </tr>
</table></center></div>

<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=1 cellspacing=0 cellpadding=0  style='width:443.4pt;border-collapse:collapse;border:none'>
 <tr>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 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">1</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 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">2</p>
 </td>
 <td  valign=top style=' border:none;border-right:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  colspan=2 valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 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">3</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 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">1</p>
 </td>
 <td  valign=top style=' border:none;border-right:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 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">SEC FORM 17-C</p>
 </td>
 <td  valign=top style=' border:none;border-right:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 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">0</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 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">6</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Every 2<sup>nd</sup></p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Tuesday</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  colspan=2 valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 </tr>
 <tr>
 <td  colspan=2 valign=top style=' border:none;padding:
 0pt 5.4pt 0pt 5.4pt'>
 <p style='' style="margin-top:0;margin-bottom:0">Month</p>
 </td>
 <td  colspan=2 valign=top style=' border:none;padding:
 0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  colspan=2 valign=top style=' border:none;padding:
 0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Day</p>
 </td>
 <td  valign=top style=' border:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">FORM TYPE</p>
 </td>
 <td  valign=top style=' border:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  colspan=2 valign=top style=' border:none;padding:
 0pt 5.4pt 0pt 5.4pt'>
 <p style=';text-align:justify;text-justify:
 inter-ideograph' style="margin-top:0;margin-bottom:0">Month</p>
 </td>
 <td  valign=top style=' border:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Day</p>
 </td>
 <td  colspan=2 valign=top style=' border:none;padding:
 0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td style='border:none;padding:0pt 0pt 0pt 0pt'  ><p style="margin-top:0;margin-bottom:0">&nbsp;</td>
 </tr>
 <tr>
 <td  colspan=6 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Fiscal Year</p>
 </td>
 <td  colspan=3 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  colspan=5 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">Annual Meeting</p>
 </td>
 <td style='border:none;padding:0pt 0pt 0pt 0pt'  ><p style="margin-top:0;margin-bottom:0">&nbsp;</td>
 </tr>
 <tr height=0>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 </tr>
</table></center></div>

<p style='text-align:justify;text-justify:inter-ideograph' 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=1 cellspacing=0 cellpadding=0
 style='border-collapse:collapse;border:none'>
 <tr>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">C</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">F</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">D</p>
 </td>
 <td  colspan=2 valign=top style=' border:none;
 border-right:solid windowtext 1.0pt;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">N/A</p>
 </td>
 </tr>
 <tr>
 <td  colspan=4 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">Dept.
 Requiring this Doc.</p>
 </td>
 <td  valign=top style=' border:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Amended Articles</p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Number/Section</p>
 </td>
 </tr>
 <tr height=0>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 </tr>
</table></center></div>

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

<div align=center>

<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  colspan=2 valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  colspan=3 valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Total Amount of Borrowings</p>
 </td>
 </tr>
 <tr>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">2,191,308</p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">As of June 30, 2006</p>
 </td>
 <td  valign=top style=' border:none;border-right:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 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">NA</p>
 </td>
 <td  valign=top style=' border:none;border-right:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 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">NA</p>
 </td>
 </tr>
 <tr>
 <td  valign=top style=' border:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Total No. of Stockholders</p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Domestic</p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Foreign</p>
 </td>
 </tr>
</table></center></div>

</div>

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

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

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">To be accomplished by SEC Personnel
concerned</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=1 cellspacing=0 cellpadding=0  style='width:460.5pt;;border-collapse:collapse;border:none'>
 <tr>
 <td style='border:none;padding:0pt 0pt 0pt 0pt'  ><p style="margin-top:0;margin-bottom:0">&nbsp;</td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  colspan=2 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  colspan=3 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">______________________________</p>
 </td>
 </tr>
 <tr>
 <td  colspan=12 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">File Number</p>
 </td>
 <td  colspan=2 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">LCU</p>
 </td>
 <td style='border:none;padding:0pt 0pt 0pt 0pt'  ><p style="margin-top:0;margin-bottom:0">&nbsp;</td>
 </tr>
 <tr height=0>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 </tr>
</table></center></div>

<p style='margin-left:36.0pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-left:36.0pt;text-align:justify;text-justify:
inter-ideograph' 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=1 cellspacing=0 cellpadding=0  style='width:462.0pt;;border-collapse:collapse;border:none'>
 <tr>
 <td style='border:none;padding:0pt 0pt 0pt 0pt'  ><p style="margin-top:0;margin-bottom:0">&nbsp;</td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  colspan=3 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">______________________________</p>
 </td>
 <td style='border:none;padding:0pt 0pt 0pt 0pt'  ><p style="margin-top:0;margin-bottom:0">&nbsp;</td>
 </tr>
 <tr>
 <td  colspan=12 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Document I.D.</p>
 </td>
 <td  valign=top style=' border:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  colspan=3 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Cashier</p>
 </td>
 </tr>
 <tr height=0>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
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 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 </tr>
</table></center></div>

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

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

<div align='center'><center><table style='font-family:arial,helvetica,sans-serif;font-size:9pt'  cellpadding=0 cellspacing=0>
 <tr>
 <td  height=65 bgcolor=white style='border:.75pt solid black;
 vertical-align:top;background:white'>



 <div style='padding:4.35pt 7.95pt 4.35pt 7.95pt'>
 <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">STAMPS</p>
 </div>
 <p style="margin-top:0;margin-bottom:0">

 &nbsp;</td>
 </tr>
</table></center></div>

&nbsp;</p>

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

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

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

<br clear=ALL>

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">Remarks: Please use black
ink for scanning purposes</p>

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

<div align='center'><center><table style='font-family:arial,helvetica,sans-serif;font-size:9pt'  cellpadding=0 cellspacing=0 align=left>
 <tr>
 <td  height=38></td>
 </tr>
 <tr>
 <td></td>
 <td  height=41 style='vertical-align:top'>



 <div style='padding:3.6pt 7.2pt 3.6pt 7.2pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Page 2 of 4</p>
 </div>
 <p style="margin-top:0;margin-bottom:0">

 &nbsp;</td>
 </tr>
</table></center></div>

<br clear=all
style='page-break-before:always'>
Exhibit 1</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>

<br clear=ALL>

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

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

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

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

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

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

<p style='margin-left:36.0pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-36.0pt' 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;
8 August 2006</p>

<p style='margin-left:36.0pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">Date of Report (Date of earliest event reported)</p>

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

<p style='margin-left:36.0pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-36.0pt' 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;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-left:36.0pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-36.0pt' 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;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p align=left style='margin-left:36.0pt;text-align:left;
text-indent:-36.0pt' 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:36.0pt' 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:36.0pt;text-indent:-36.0pt' style="margin-top:0;margin-bottom:0">5.         PHILIPPINES                                                6.____________
(SEC Use Only)  </p>

<p style='margin-left:36.0pt' style="margin-top:0;margin-bottom:0">Province, country or other jurisdiction                    Industry
Classification Code</p>

<p style='text-align:justify;text-justify:inter-ideograph;
text-indent:36.0pt' style="margin-top:0;margin-bottom:0">of Incorporation</p>

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

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

<p align=left style='margin-left:36.0pt;text-align:left' style="margin-top:0;margin-bottom:0">Address of principal
office                                                            Postal Code</p>

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

<p style="margin-top:0;margin-bottom:0">8.         (632) 816-8405 </p>

<p align=left style='margin-left:36.0pt;text-align:left' style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0">Issuer's telephone number, including
area code</h4>

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

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

<p style='text-align:justify;text-justify:inter-ideograph;
text-indent:36.0pt' style="margin-top:0;margin-bottom:0">Former name or former address, if changed since last report</p>

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

<p style='margin-left:36.0pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-36.0pt' 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 and Sections 4 and 8 of the Revised Securities
Act</p>

<p style='text-align:justify;text-justify:inter-ideograph' 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:0pt 5.4pt 0pt 5.4pt'>
 <p align=left style='margin-top:0pt;text-align:left' style="margin-top:0;margin-bottom:0">Title of Each Class</p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 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">Outstanding
 and Amount of Debt Outstanding</p>
 </td>
 </tr>
</table></center></div>

<p style='margin-left:36.0pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">_____________________________________________________________</p>

<p style='margin-left:36.0pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">_____________________________________________________________</p>

<p style='margin-left:36.0pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">_____________________________________________________________</p>

<p style='margin-right:42.3pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>

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

<div align='center'><center><table style='font-family:arial,helvetica,sans-serif;font-size:9pt'  cellpadding=0 cellspacing=0 align=left>
 <tr>
 <td  height=130></td>
 </tr>
 <tr>
 <td></td>
 <td  height=40 style='vertical-align:top'>



 <div style='padding:3.6pt 7.2pt 3.6pt 7.2pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Page 3 of 4</p>
 </div>
 <p style="margin-top:0;margin-bottom:0">

 &nbsp;</td>
 </tr>
</table></center></div>

<br clear=all
style='page-break-before:always'>
Exhibit 1</p>

<p style='margin-right:42.3pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-right:42.3pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<br clear=ALL>

<p style='margin-right:42.3pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">Item 9 (Other
Events)</p>

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

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

<p style="margin-top:0;margin-bottom:0">We disclose that
the Board of Directors of Philippine Long Distance Telephone Company (the
&#147;Company&#148;), at its meeting held on August 8, 2006 declared, out of the
unrestricted retained earnings of the Company as of December 31, 2005, the
following cash dividends:</p>

<p style='margin-top:0pt;margin-right:36.0pt;margin-bottom:
0pt;margin-left:36.0pt;margin-bottom:.0001pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-top:0pt;margin-right:19.3pt;margin-bottom:
0pt;margin-left:60.0pt;margin-bottom:.0001pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-24.0pt' style="margin-top:0;margin-bottom:0">1.     P50.00
per outstanding share of the Company&#146;s Common Capital Stock, payable on
September 21, 2006 to the holders of record on August 21, 2006.</p>

<p style='margin-top:0pt;margin-right:19.3pt;margin-bottom:
0pt;margin-left:60.0pt;margin-bottom:.0001pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-24.0pt' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-top:0pt;margin-right:19.3pt;margin-bottom:
0pt;margin-left:60.0pt;margin-bottom:.0001pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-24.0pt' style="margin-top:0;margin-bottom:0">2.     P1.00
per outstanding share of the Company&#146;s Series B 10% Cumulative Convertible
Preferred Stock, for the annual period ending August 31, 2006, payable on
September 29, 2006, to the holders of record on September 1, 2006.</p>

<p style='margin-top:0pt;margin-right:36.0pt;margin-bottom:
0pt;margin-left:60.0pt;margin-bottom:.0001pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-24.0pt' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-top:0pt;margin-right:36.0pt;margin-bottom:
0pt;margin-left:60.0pt;margin-bottom:.0001pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-24.0pt' style="margin-top:0;margin-bottom:0">3.     P1.00
per outstanding share of the Company&#146;s Series F 10% Cumulative Convertible
Preferred Stock, for the annual period ending August 31, 2006, payable on
September 29, 2006, to the holders of record on September 1, 2006.</p>

<p style='margin-top:0pt;margin-right:36.0pt;margin-bottom:
0pt;margin-left:60.0pt;margin-bottom:.0001pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-24.0pt' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-top:0pt;margin-right:36.0pt;margin-bottom:
0pt;margin-left:60.0pt;margin-bottom:.0001pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-24.0pt' style="margin-top:0;margin-bottom:0">4.     P1.00
per outstanding share of the Company&#146;s Series Q 10% Cumulative Convertible
Preferred Stock, for the annual period ending August 31, 2006, payable on
September 29, 2006, to the holders of record on September 1, 2006.</p>

<p style='margin-top:0pt;margin-right:36.0pt;margin-bottom:
0pt;margin-left:60.0pt;margin-bottom:.0001pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-24.0pt' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-top:0pt;margin-right:36.0pt;margin-bottom:
0pt;margin-left:60.0pt;margin-bottom:.0001pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-24.0pt' style="margin-top:0;margin-bottom:0">5.     P1.00
per outstanding share of the Company&#146;s Series V 10% Cumulative Convertible
Preferred Stock, for the annual period ending August 31, 2006, payable on
September 29, 2006, to the holders of record on September 1, 2006.</p>

<p style='margin-top:0pt;margin-right:36.0pt;margin-bottom:
0pt;margin-left:60.0pt;margin-bottom:.0001pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-24.0pt' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-top:0pt;margin-right:36.0pt;margin-bottom:
0pt;margin-left:60.0pt;margin-bottom:.0001pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-24.0pt' style="margin-top:0;margin-bottom:0">6.     P1.00
per outstanding share of the Company&#146;s Series Z 10% Cumulative Convertible
Preferred Stock, for the annual period ending August 31, 2006, payable on
September 29, 2006, to the holders of record on September 1, 2006.</p>

<p style='margin-top:0pt;margin-right:36.0pt;margin-bottom:
0pt;margin-left:60.0pt;margin-bottom:.0001pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-24.0pt' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-top:0pt;margin-right:36.0pt;margin-bottom:
0pt;margin-left:60.0pt;margin-bottom:.0001pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-24.0pt' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style=';text-align:justify;text-justify:
inter-ideograph;text-indent:36.0pt' style="margin-top:0;margin-bottom:0">Pursuant
to the requirements of the Securities Regulation Code, the Company has duly
caused this Report to be signed on its behalf by the undersigned hereunto duly
authorized.</p>

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

<p style=';text-align:justify;text-justify:
inter-ideograph' 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:473.4pt;border-collapse:collapse'>
 <tr>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p style=';text-align:justify;text-justify:
 inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0"><b>PHILIPPINE LONG DISTANCE TELEPHONE COMPANY</b></h1>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 <p style='text-indent:36.0pt' style="margin-top:0;margin-bottom:0">By:</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"><u>/s/ Ma. Lourdes C. Rausa-Chan</u></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>
 </td>
 </tr>
</table></center></div>

<p style='margin-left:4.5pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">                  </p>

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">August 8, 2006</p>

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

<div align='center'><center><table style='font-family:arial,helvetica,sans-serif;font-size:9pt'  cellpadding=0 cellspacing=0 align=left>
 <tr>
 <td  height=59></td>
 </tr>
 <tr>
 <td></td>
 <td  height=40 style='vertical-align:top'>



 <div style='padding:3.6pt 7.2pt 3.6pt 7.2pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Page 4 of 4</p>
 </div>
 <p style="margin-top:0;margin-bottom:0">

 &nbsp;</td>
 </tr>
</table></center></div>

<br clear=all
style='page-break-before:always'>
Exhibit 2</h1>

<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">&nbsp;</h1>

<p style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0">&nbsp;</h1>

<p style='margin-left:252.0pt;text-indent:36.0pt' style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0">&nbsp;</h1>

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

<br clear=ALL>

<p style='margin-left:252.0pt;text-indent:36.0pt' style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0">August 8, 2006</h1>

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

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

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

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">4/F Philippine Stock Exchange Center</p>

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

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

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

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

<p align=left style='text-align:left' style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0">                                                          <u>SVP &#150;
Operations Group </u></h4>

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

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

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

<p style="margin-top:0;margin-bottom:0">            In
accordance with Section 17.1 (b) and Section 17.3 of the Securities Regulation
Code, we submit herewith a copy of SEC Form 17-C with a press release attached
thereto regarding the Company&#146;s financial condition and results of operations
for the six (6) months ended June 30, 2006.</p>

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

<p style="margin-top:0;margin-bottom:0">            This
shall also serve as the disclosure letter for the purpose of complying with PSE
Revised Disclosure Rules.</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='width:459.9pt;border-collapse:collapse'>
 <tr>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Very truly yours,</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" style="margin-top:0;margin-bottom:0">PHILIPPINE LONG
 DISTANCE TELEPHONE COMPANY</h3>
 <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"><u>/s/ Ma. Lourdes C. Rausa-Chan</u></p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0">MA.
 LOURDES C. RAUSA-CHAN</h2>
 <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" style="margin-top:0;margin-bottom:0">&nbsp;</h1>

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

<div align='center'><center><table style='font-family:arial,helvetica,sans-serif;font-size:9pt'  cellpadding=0 cellspacing=0 align=left>
 <tr>
 <td  height=207></td>
 </tr>
 <tr>
 <td></td>
 <td  height=34 style='vertical-align:top'>



 <div style='padding:3.6pt 7.2pt 3.6pt 7.2pt'>
 <p style="margin-top:0;margin-bottom:0">Page 1 of 10</p>
 </div>
 <p style="margin-top:0;margin-bottom:0">

 &nbsp;</td>
 </tr>
</table></center></div>

<br clear=all style='page-break-before:always'>
Exhibit 2</h1>

<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>

<br clear=ALL>

<p style='margin-left:216.0pt;text-indent:36.0pt' style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0">August 8, 2006</h1>

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

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

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">Securities &amp; Exchange
Commission</p>

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">Money Market Operations
Department</p>

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">SEC Building, EDSA</p>

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

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

<p style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0">Attention:  Director
Justina F. Callangan</h3>

<p align=left style='margin-left:156.0pt;text-align:left' style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0"><u>Corporations Finance Department</u></h4>

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

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

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

<p style="margin-top:0;margin-bottom:0">            In
accordance with Section 17.1 (b) of Securities Regulation Code and SRC Rule
17.1, we submit herewith five (5) copies of SEC Form 17-C with a press release
attached thereto regarding the Company&#146;s financial condition and results of
operations for the six (6) months ended June 30, 2006.</p>

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

<p style='text-align:justify;text-justify:inter-ideograph' 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='width:459.9pt;border-collapse:collapse'>
 <tr>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Very truly yours,</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" style="margin-top:0;margin-bottom:0">PHILIPPINE LONG
 DISTANCE TELEPHONE COMPANY</h3>
 <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"><u>/s/ Ma. Lourdes C. Rausa-Chan</u></p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0">MA.
 LOURDES C. RAUSA-CHAN</h2>
 <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 align=right style='text-align:right' style="margin-top:0;margin-bottom:0">

<div align='center'><center><table style='font-family:arial,helvetica,sans-serif;font-size:9pt'  cellpadding=0 cellspacing=0 align=left>
 <tr>
 <td  height=246></td>
 </tr>
 <tr>
 <td></td>
 <td  height=34 style='vertical-align:top'>



 <div style='padding:3.6pt 7.2pt 3.6pt 7.2pt'>
 <p style="margin-top:0;margin-bottom:0">Page 2 of 10</p>
 </div>
 <p style="margin-top:0;margin-bottom:0">

 &nbsp;</td>
 </tr>
</table></center></div>

<br clear=all
style='page-break-before:always'>
 Exhibit 2</p>

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

<br clear=ALL>

<p style="margin-top:0;margin-bottom:0">COVER SHEET</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=1 cellspacing=0 cellpadding=0  style='width:454.5pt;margin-left:14.4pt;border-collapse:collapse;border:none'>
 <tr>
 <td style='border:none;padding:0pt 0pt 0pt 0pt'  colspan=2><p style="margin-top:0;margin-bottom:0">&nbsp;</td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">P</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">W</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">-</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">5</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">5</p>
 </td>
 <td style='border:none;padding:0pt 0pt 0pt 0pt'  ><p style="margin-top:0;margin-bottom:0">&nbsp;</td>
 </tr>
 <tr>
 <td  valign=top style=' border:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  colspan=7 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">S.E.C. Registration No.</p>
 </td>
 </tr>
 <tr height=0>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 </tr>
</table></center></div>

<p style='margin-left:324.0pt' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<div align=center>

<div align='center'><center><table style='font-family:arial,helvetica,sans-serif;font-size:9pt'  border=1 cellspacing=0 cellpadding=0
 style='border-collapse:collapse;border:none'>
 <tr>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">P</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">H</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">I</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">L</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">I</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">P</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">P</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">I</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">N</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">E </p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0"> </p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">L</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">O</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">N</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">G</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">D</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">I</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">S</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">T</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">A</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">N</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">C</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">E</p>
 </td>
 </tr>
</table></center></div>

</div>

<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=1 cellspacing=0 cellpadding=0
 style='margin-left:9.9pt;border-collapse:collapse;border:none'>
 <tr>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">T</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">E</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">L</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">E</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">P</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">H</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">O</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">N</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">E</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">C</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">O</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">M</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">P</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">A</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">N</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">Y</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 </tr>
</table></center></div>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">(Company&#146;s Full Name)</p>

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

<div align=center>

<div align='center'><center><table style='font-family:arial,helvetica,sans-serif;font-size:9pt'  border=1 cellspacing=0 cellpadding=0  style='width:469.05pt;border-collapse:collapse;border:none'>
 <tr>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">R</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">A</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">M</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">O</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">N</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0"> C</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">O</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">J</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">U</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">A</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">N</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">G</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">C</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">O</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">B</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">L</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">D</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">G</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">.</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 </tr>
</table></center></div>

</div>

<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=1 cellspacing=0 cellpadding=0
 style='margin-left:9.9pt;border-collapse:collapse;border:none'>
 <tr>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">M</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">A</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">K</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">A</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">T</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">I</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">A</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">V</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">E</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">.</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">M</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">A</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">K</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">A</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">T</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">I</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">C</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">I</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">T</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">Y</p>
 </td>
 </tr>
</table></center></div>

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">(Business Address: No. Street City/Town/Province)</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=1 cellspacing=0 cellpadding=0  style='width:477.9pt;border-collapse:collapse;border:none'>
 <tr style='height:15.25pt'>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt;height:15.25pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">ATTY. MA. LOURDES C. RAUSA-CHAN</p>
 </td>
 <td  valign=top style=' border:none;padding:0pt 5.4pt 0pt 5.4pt;
 height:15.25pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt;height:15.25pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">816-8405</p>
 </td>
 </tr>
 <tr>
 <td  valign=top style=' border:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='margin-right:.9pt;text-align:center' style="margin-top:0;margin-bottom:0">Contact Person</p>
 </td>
 <td  valign=top style=' border:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='margin-right:.9pt;text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='margin-right:.9pt;text-align:center' style="margin-top:0;margin-bottom:0">Company
 Telephone Number</p>
 </td>
 </tr>
</table></center></div>

<p style='margin-right:.9pt' 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=1 cellspacing=0 cellpadding=0  style='width:491.4pt;;border-collapse:collapse;border:none'>
 <tr style='height:13.9pt'>
 <td style='border:none;padding:0pt 0pt 0pt 0pt'  ><p style="margin-top:0;margin-bottom:0">&nbsp;</td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt;height:13.9pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 <p style="margin-top:0;margin-bottom:0">1</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt;height:13.9pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 <p style="margin-top:0;margin-bottom:0">2</p>
 </td>
 <td  valign=top style=' border:none;padding:0pt 5.4pt 0pt 5.4pt;
 height:13.9pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt;height:13.9pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 <p style="margin-top:0;margin-bottom:0">3</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt;height:13.9pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 <p style="margin-top:0;margin-bottom:0">1</p>
 </td>
 <td  valign=top style=' border:none;padding:0pt 5.4pt 0pt 5.4pt;
 height:13.9pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  colspan=2 valign=top style=' border:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt;height:13.9pt'>
 <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">SEC FORM 17-C</p>
 </td>
 <td  valign=top style=' border:none;padding:0pt 5.4pt 0pt 5.4pt;
 height:13.9pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt;height:13.9pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 <p style="margin-top:0;margin-bottom:0">0</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt;height:13.9pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 <p style="margin-top:0;margin-bottom:0">6</p>
 </td>
 <td  colspan=2 valign=top style=' border:none;padding:
 0pt 5.4pt 0pt 5.4pt;height:13.9pt'>
 <p style="margin-top:0;margin-bottom:0">Every 2<sup>nd</sup></p>
 <p style="margin-top:0;margin-bottom:0">Tuesday</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt;height:13.9pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt;height:13.9pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td style='border:none;padding:0pt 0pt 0pt 0pt'  ><p style="margin-top:0;margin-bottom:0">&nbsp;</td>
 </tr>
 <tr>
 <td  colspan=4 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='' style="margin-top:0;margin-bottom:0">Month</p>
 </td>
 <td  colspan=4 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='' style="margin-top:0;margin-bottom:0">Day</p>
 </td>
 <td  colspan=2 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='' style="margin-top:0;margin-bottom:0">FORM TYPE</p>
 </td>
 <td  colspan=3 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='' style="margin-top:0;margin-bottom:0">Month</p>
 </td>
 <td  colspan=4 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='' style="margin-top:0;margin-bottom:0">Day</p>
 </td>
 </tr>
 <tr>
 <td  colspan=6 valign=top style=' border:none;padding:
 0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Fiscal Year</p>
 </td>
 <td  colspan=4 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  colspan=4 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='' style="margin-top:0;margin-bottom:0">Annual Meeting</p>
 </td>
 <td style='border:none;padding:0pt 0pt 0pt 0pt'  colspan=3><p style="margin-top:0;margin-bottom:0">&nbsp;</td>
 </tr>
 <tr height=0>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
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 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 </tr>
</table></center></div>

<p style='' 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=1 cellspacing=0 cellpadding=0  style='width:482.4pt;;border-collapse:collapse;border:none'>
 <tr style='height:16.15pt'>
 <td style='border:none;padding:0pt 0pt 0pt 0pt'  ><p style="margin-top:0;margin-bottom:0">&nbsp;</td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt;height:16.15pt'>
 <p style="margin-top:0;margin-bottom:0">C</p>
 </td>
 <td  valign=top style=' border-top:solid windowtext 1.0pt;
 border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;
 padding:0pt 5.4pt 0pt 5.4pt;height:16.15pt'>
 <p style="margin-top:0;margin-bottom:0">F</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt;height:16.15pt'>
 <p style="margin-top:0;margin-bottom:0">D</p>
 </td>
 <td  colspan=2 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt;height:16.15pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt;height:16.15pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">N/A</p>
 </td>
 </tr>
 <tr>
 <td  colspan=5 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='' style="margin-top:0;margin-bottom:0">Dept. Requiring this Doc.</p>
 </td>
 <td  valign=top style=' border:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style=';text-align:center' style="margin-top:0;margin-bottom:0">Amended Articles</p>
 <p align=center style=';text-align:center' style="margin-top:0;margin-bottom:0">Number/Section</p>
 </td>
 </tr>
 <tr height=0>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
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 <td  style='border:none'></td>
 </tr>
</table></center></div>

<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='width:752.25pt;border-collapse:collapse'>
 <tr>
 <td  colspan=3 valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  colspan=5 valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Total Amount of Borrowings</p>
 </td>
 <td style='border:none;padding:0pt 0pt 0pt 0pt'  colspan=4><p style="margin-top:0;margin-bottom:0">&nbsp;</td>
 </tr>
 <tr>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">2,191,308</p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">As of June 30, 2006</p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  colspan=3 valign=top style=' border:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0"> </p>
 <p style="margin-top:0;margin-bottom:0">N/A</p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  colspan=2 valign=top style=' border:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 <p style="margin-top:0;margin-bottom:0">N/A</p>
 </td>
 <td style='border:none;padding:0pt 0pt 0pt 0pt'  colspan=4><p style="margin-top:0;margin-bottom:0">&nbsp;</td>
 </tr>
 <tr>
 <td style='border:none;padding:0pt 0pt 0pt 0pt'  colspan=4><p style="margin-top:0;margin-bottom:0">&nbsp;</td>
 <td  colspan=3 valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Total No. of Stockholders</p>
 </td>
 <td  colspan=2 valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Domestic</p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Foreign</p>
 </td>
 </tr>
 <tr height=0>
 <td  style='border:none'></td>
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 <td  style='border:none'></td>
 <td  style='border:none'></td>
 </tr>
</table></center></div>

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

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

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0">To be accomplished by SEC Personnel concerned</h1>

<p align=center style='margin-top:6.0pt;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=1 cellspacing=0 cellpadding=0  style='width:477.9pt;border-collapse:collapse;border:none'>
 <tr>
 <td  colspan=2 valign=top style=' border:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  colspan=2 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  colspan=2 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">______________________________</p>
 </td>
 <td style='border:none;padding:0pt 0pt 0pt 0pt'  ><p style="margin-top:0;margin-bottom:0">&nbsp;</td>
 </tr>
 <tr>
 <td style='border:none;padding:0pt 0pt 0pt 0pt'  ><p style="margin-top:0;margin-bottom:0">&nbsp;</td>
 <td  colspan=11 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">File Number</p>
 </td>
 <td  colspan=2 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  colspan=2 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">LCU</p>
 </td>
 </tr>
 <tr height=0>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
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 <td  style='border:none'></td>
 <td  style='border:none'></td>
 </tr>
</table></center></div>

<p style='margin-left:36.0pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-left:36.0pt;text-align:justify;text-justify:
inter-ideograph' 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=1 cellspacing=0 cellpadding=0  style='width:477.9pt;border-collapse:collapse;border:none'>
 <tr>
 <td  colspan=2 valign=top style=' border:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 border-left:none;padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  colspan=2 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  colspan=2 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">______________________________</p>
 </td>
 <td style='border:none;padding:0pt 0pt 0pt 0pt'  ><p style="margin-top:0;margin-bottom:0">&nbsp;</td>
 </tr>
 <tr>
 <td style='border:none;padding:0pt 0pt 0pt 0pt'  ><p style="margin-top:0;margin-bottom:0">&nbsp;</td>
 <td  colspan=11 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Document I.D.</p>
 </td>
 <td  colspan=2 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  colspan=2 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Cashier</p>
 </td>
 </tr>
 <tr height=0>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
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 <td  style='border:none'></td>
 </tr>
</table></center></div>

<p style='margin-left:36.0pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-align:justify;text-justify:inter-ideograph' 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=1 cellspacing=0 cellpadding=0
 style='border-collapse:collapse;border:none'>
 <tr style='height:3.5pt'>
 <td  valign=top style=' border:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt;height:3.5pt'>
 <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" style="margin-top:0;margin-bottom:0"><b>STAMPS</b></h2>
 <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:6.0pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">Remarks: Please use
black ink for scanning purposes.</p>

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

<div align='center'><center><table style='font-family:arial,helvetica,sans-serif;font-size:9pt'  cellpadding=0 cellspacing=0 align=left>
 <tr>
 <td  height=79></td>
 </tr>
 <tr>
 <td></td>
 <td  height=34 style='vertical-align:top'>



 <div style='padding:3.6pt 7.2pt 3.6pt 7.2pt'>
 <p style="margin-top:0;margin-bottom:0">Page 3 of 10</p>
 </div>
 <p style="margin-top:0;margin-bottom:0">

 &nbsp;</td>
 </tr>
</table></center></div>

<br
clear=all style='page-break-before:always'>
Exhibit 2</p>

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

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

<br clear=ALL>

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

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

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

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

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

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

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

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">1.         8
August 2006</p>

<p style='margin-left:36.0pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">Date of Report (Date of earliest event reported)</p>

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

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">2.         SEC
Identification Number PW-55</p>

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

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">3.         BIR
Tax Identification No. 000-488-793</p>

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

<p style="margin-top:0;margin-bottom:0">4.         PHILIPPINE
LONG DISTANCE TELEPHONE COMPANY</p>

<p style='text-indent:36.0pt' 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:36.0pt;text-indent:-36.0pt' style="margin-top:0;margin-bottom:0">5.         PHILIPPINES                                                  6.____________
(SEC Use Only)  </p>

<p style='margin-left:36.0pt' style="margin-top:0;margin-bottom:0">Province, country or other jurisdiction              Industry
Classification Code</p>

<p style='text-align:justify;text-justify:inter-ideograph;
text-indent:36.0pt' style="margin-top:0;margin-bottom:0">of Incorporation</p>

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

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

<p align=left style=';text-align:left;
text-indent:36.0pt' style="margin-top:0;margin-bottom:0">Address of principal office                                                                  Postal
Code</p>

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

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">8.         (632)
816-8405 </p>

<p align=left style='margin-left:36.0pt;text-align:left' 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;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>

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

<p style='text-align:justify;text-justify:inter-ideograph;
text-indent:36.0pt' style="margin-top:0;margin-bottom:0">Former name or former address, if changed since last
report</p>

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

<p style='margin-left:36.0pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-36.0pt' style="margin-top:0;margin-bottom:0">10.       Securities registered
pursuant to Sections 8 and 12 of the Securities Regulation Code and Sections 4
and 8 of the Revised Securities Act</p>

<p style='text-align:justify;text-justify:inter-ideograph' 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:0pt 5.4pt 0pt 5.4pt'>
 <p align=left style='margin-top:0pt;text-align:left' style="margin-top:0;margin-bottom:0">Title of Each Class</p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 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">Outstanding
 and Amount of Debt Outstanding</p>
 </td>
 </tr>
</table></center></div>

<p style='margin-left:36.0pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-left:36.0pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">____________________________________________________________</p>

<p style='margin-left:36.0pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">____________________________________________________________</p>

<p style='margin-left:36.0pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">____________________________________________________________</p>

<p style='margin-left:36.0pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>

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

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 <tr>
 <td  height=111></td>
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<br clear=all
style='page-break-before:always'>
<b>Press release</b></p>

<p align=center style='margin-bottom:0pt;margin-bottom:.0001pt;
text-align:center' style="margin-top:0;margin-bottom:0"><b><u>&nbsp;</u></b></p>

<br clear=ALL>

<p align=center style='margin-bottom:0pt;margin-bottom:.0001pt;
text-align:center' style="margin-top:0;margin-bottom:0"><b><u>CORE EARNINGS UP 11% TO
P15.2 BILLION; <br>
</u></b><b><u>CASH FLOWS
STRONG WITH EBITDA UP 7% TO P40 BILLION;<br>
P50 INTERIM DIVIDEND PER SHARE DECLARED<br>
<br>
</u></b></p>

<p style='margin-left:42.0pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-18.0pt' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-left:42.0pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-18.0pt' style="margin-top:0;margin-bottom:0">&#149;     Core
net income of P15.2 billion (before the effects of forex gains, deferred tax
assets and additional depreciation), an increase of 11% from first half 2005 </p>

<p style='margin-left:42.0pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-18.0pt' style="margin-top:0;margin-bottom:0">&#149;     Core
earnings per share (&#147;EPS&#148;) up 9% to P82.48 per share </p>

<p style='margin-left:42.0pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-18.0pt' style="margin-top:0;margin-bottom:0">&#149;     P50
interim common dividend per share, representing a 60% dividend payout based on
core EPS </p>

<p style='margin-left:42.0pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-18.0pt' style="margin-top:0;margin-bottom:0">&#149;     Reported
consolidated net income of P15.3 billion for the first half 2006, 7% lower than
P16.5 billion in first half of 2005 due to additional depreciation expenses,
lower forex gains and higher statutory tax rate </p>

<p style='margin-left:42.0pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-18.0pt' style="margin-top:0;margin-bottom:0">&#149;     Consolidated
EBITDA reaches P40.4 billion, up 7%; EBITDA margin improves to 67% of service
revenues </p>

<p style='margin-left:42.0pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-18.0pt' style="margin-top:0;margin-bottom:0">&#149;     Consolidated
net debt balance down 35% to below P70 billion equivalent (US$1.3 billion) </p>

<p style='margin-left:42.0pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-18.0pt' style="margin-top:0;margin-bottom:0">&#149;     Piltel
prepays US$176 million of its debts, US$56 million to third parties </p>

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

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0"><b><i>MANILA,
Philippines, 8<sup>th</sup> August 2006</i></b>   &#150;&#150; Philippine Long Distance Telephone Company (&#147;PLDT&#148;)
(PSE: TEL) (NYSE: PHI) today announced its unaudited financial results for the
first half of 2006, reporting consolidated core earnings of P15.2 billion,
before the effects of foreign exchange, deferred tax assets and additional
depreciation, 11% up compared with core earnings of P13.7 billion for the same
period in 2005.  As a result, the Company&#146;s Board of Directors approved the
declaration of an interim dividend of P50 per share.  The record date for the
dividend is 21<sup>st</sup> August 2006 with payment date on 21<sup>st</sup> September 2006. The dividend declaration is based on a 60% payout
of core earnings per share. </p>

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

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">Reported
net income decreased by 7% to P15.3 billion compared with the P16.5 billion net
profit reported in the same period last year. The decline is attributed to
additional depreciation expenses, foreign exchange losses and a higher
statutory tax rate &#150; which were partly mitigated by lower interest expense due
to lower net debt balances. </p>

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

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">Consolidated
service revenues rose by 2% to P60.6 billion. Consolidated EBITDA improved by
7% to P40.4 billion while EBITDA margins rose to 67% compared with 64% last
year.   </p>

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

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">Consolidated
capital expenditures increased to P12.4 billion as the Group stepped up the
upgrading and expansion of its fixed line and wireless networks.  PLDT is
currently upgrading about 200,000 fixed lines to NGN while Smart has expanded
its cellular network to support its ongoing initiatives and programs for 2G,
wireless broadband and 3G.   The Group expects total capital expenditures for
2006 to reach P20 billion. </p>

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

<p style='text-align:justify;text-justify:inter-ideograph;line-height:
normal' style="margin-top:0;margin-bottom:0">

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The Group&#146;s consolidated
balance sheet continued to strengthen with the consolidated net debt balance
down by 35% to US$1.3 billion or about P70 billion equivalent. Net debt to
EBITDA and net debt to free cash flow ratios improved to below 1.0 times and
1.7 times, respectively.  </p>

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

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">In
June 2006, cellular subsidiary Pilipino Telephone Corporation (&#147;Piltel&#148;)
voluntarily prepaid 45% of its outstanding debt or an aggregate amount of
US$176 million. The amount represented excess cash flows from Piltel&#146;s
operations and was applied proportionally to prepay US$56 million to third
party creditors and US$120 million to Smart Communications, Inc. (&#147;Smart&#148;),
Piltel&#146;s largest creditor.  As of 30<sup>th </sup>June
2006, Piltel&#146;s debt balance owed to third party creditors was approximately
US$71 million. </p>

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

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">Consolidated
free cash flow remained strong at P17.4 billion despite increases in capital
expenditures and working capital requirements.  PLDT expects to pay out a total
of approximately P9.1 billion of common dividends for this dividend declaration
alone. </p>

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

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&#147;We
are pleased to announce a continued healthy growth of 11% in core earnings for
the first half of 2006 and the declaration of an interim  dividend for 2006 of
P50 per share, based on a 60% payout of core EPS. The Group&#146;s excellent cash
flow position and profits allow us to invest in future growth while continuing
to attend to the needs of our various stakeholder groups&#148;, stated <b>Manuel V.
Pangilinan</b>,<b> PLDT Chairman</b>.</p>

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

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

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0"><b><u>Wireless:
Moving Beyond Cellular </u></b></p>

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

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">Consolidated
wireless service revenues rose to P38.6 billion for the first half of 2006, 6%
higher than the P36.5 billion realized in the same period last year.
Consolidated wireless EBITDA grew by 8% to P25.8 billion for the first six
months of 2006 versus P23.9 billion for the first half of 2005.  EBITDA margins
improved to 67%.   </p>

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

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">Smart and Piltel
sustained their solid performances for the quarter, recording a 4%
quarter-on-quarter growth in service revenues to P19.6 billion in the second
quarter of the year.  As a result of Smart&#146;s continued focus on managing cash
operating expenses, EBITDA increased by 8% in the second quarter to P13.4
billion, representing a 68% EBITDA margin. </p>

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

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">The PLDT Group&#146;s
total cellular subscriber base for the first half of 2006 grew by over two
million subscribers to 22.5 million.  Smart recorded net additions of
approximately 980,000 subscribers while <i>Talk &#145;N Text</i> added about one
million subscribers to end the first half of 2006 with 16.4 million and 6.1
million subscribers, respectively.     </p>

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

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">Smart also had
58,000 wireless broadband subscribers as of the end of June 2006 under its <i>Smart
Bro </i>wireless broadband service. Smart now has over 2,200 wireless
broadband-enabled base stations providing high-speed internet access in 386
cities and municipalities all over the country at very affordable rates.
Through <i>Smart Bro</i>, Smart has also been able to roll out <i>Smart Click,</i>
a series of mobile Internet caf&#233;s housed in an air-conditioned 40-foot
container van and designed to provide remote communities with high-speed,
wireless Internet access nationwide. The increased network coverage of <i>Smart
Bro </i>allows the Group to gain &#147;first mover&#148; advantages in acquiring
broadband subscribers in areas that are currently not covered by PLDT&#146;s fixed
line DSL network. </p>

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

<p style='text-align:justify;text-justify:inter-ideograph;line-height:
normal' style="margin-top:0;margin-bottom:0">

<div align='center'><center><table style='font-family:arial,helvetica,sans-serif;font-size:9pt'  cellpadding=0 cellspacing=0>
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For the first half of 2006, Smart
continued to offer products and services which provide value to its subscribers
in a truly innovative fashion. In late June, Smart added <i>Unli</i> (short for
unlimited) to its top-up repertoire -<i>Unli</i> allows for unlimited
on-network texting without the need for registration. The <i>Unli 30</i> has a
P30 load denomination and an expiration period of two days. </p>

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">The <i>Unli 40</i>
has a P40 load denomination and offers unlimited on-network texting plus five
additional on-network/off-network SMS and two three-minute Smart-to-Smart calls
and is also valid for two days. Along with <i>Smart 25</i><i><sup>8</sup></i><i>
Unlimited Text</i> and <i>Smart Load &#147;All
Text&#148;,</i> these low denomination products address markets who need to maintain
basic communications yet have limited spending capacity.  In addition, the P10
and P15 flat rate call promotion has stimulated usage for voice by giving more
value for longer duration calls while the <i>Smart 25</i><i><sup>8 </sup></i><i>Combo
</i>promotion offers a voice feature for
the heretofore &#147;text only&#148; market.  </p>

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

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">On 15<sup>th</sup> June
2006, Smart completely aligned its <i>Smart 3G</i> rates with existing 2G
rates. Services include video calling, TV streaming of major television
networks, downloads of full music tracks and video clips as well as
international video calling to 13 countries.   Smart&#146;s 3G network has over 830
cell sites covering 142 cities and municipalities nationwide representing the
first and widest 3G network in the country. </p>

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

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&#147;You will note
that we have been segmenting our market into smaller slices through our various
SMS and voice call packages. This ability to offer attractive unlimited
packages that give real value to our subscribers has enabled us to effectively
defend our leadership position. These are exciting times as we begin the
process of transforming Smart from a cellular company into a multi-service
wireless communications company,&#148; said <b>Napoleon L. Nazareno, President and
CEO of PLDT and Smart</b>.</p>

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

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

</div>

<br clear=all
style='page-break-before:auto'>

<div>

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0"><b><u>PLDT Fixed
Line: Stepping up Broadband </u></b></p>

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

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">Fixed Line service
revenues decreased 1% to P24.1 billion in the first half of 2006 from P24.2
billion last year as the increase in data revenues, from both corporate data
services and residential DSL, was offset by declines in revenues of local
exchange and ILD services.  The peso has appreciated year-on-year by 5%, which
impacted the dollar-linked revenues arising from the local exchange and ILD
businesses. </p>

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

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">PLDT DSL continued
its strong growth as broadband subscribers reached 109,000 while PLDT <i>WeRoam</i>
had 6,600 subscribers as of the end of June 2006. Subscribers using our <i>Vibe</i>
dial&#173;up Internet service also grew by 43,000 in the first six months of 2006 to
425,000.  PLDT DSL and Vibe contributed P1.7 billion in revenues for the first
half of 2006, up 43% from last year.  </p>

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

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">EBITDA for the
first half of 2006 rose by 4% to P14.2 billion and EBITDA margins improved to
59% compared with 56% for the same period last year. The increase in EBITDA
takes into account the significant decline in the provision for doubtful
accounts brought about by improved collections.  </p>

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

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">

<div align='center'><center><table style='font-family:arial,helvetica,sans-serif;font-size:9pt'  cellpadding=0 cellspacing=0>
 <tr>
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Additional depreciation expenses of P3.9
billion were taken up in the first six months of 2006 due to a change in the
estimated useful lives of certain fixed assets as the migration to Next
Generation Network (NGN) progresses. Without these additional charges, total
operating expenses would have decreased by 1%. </p>

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

<p style='text-align:justify;text-justify:inter-ideograph;line-height:
normal' style="margin-top:0;margin-bottom:0">In June 2006, PLDT introduced <i>Shops.Work
UnPlugged</i>, or <i>SWUP</i>, a bundled solution that enables wireless cashier
point-of-sale and wireless card terminals, to address the need of retailers and
banks for real-time wireless data communication.    </p>

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">In addition, PLDT
is also continuing to push the maximization of the network by re-launching a
prepaid fixed line service called <i>Telepwede.  </i>This prepaid fixed line
service allows subscribers to have a fixed line phone for as low as P145 per
month, inclusive of a P30 load for outgoing calls and a P115 access charge for
incoming calls.  <i>Telepwede</i> subscribers may also use the service for
narrowband internet access for P5 per hour. </p>

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

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&quot;The ongoing upgrade to NGN is expected to
result in a simpler network architecture of fewer network elements but with a
greater capability to provide data services at lower costs. The completion of
the NGN upgrade will result in immediate reduction in power consumption and
insurance costs as well as opportunities to do space rationalization,&quot;
declared <b>Nazareno</b>. </p>

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

</div>

<br clear=all
style='page-break-before:auto'>

<div>

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

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0"><b><u>ePLDT:
Moving to the Forefront </u></b></p>

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">ePLDT, the Group&#146;s
information and communications technology arm, reported service revenues of
P1.8 billion for the first six months of 2006, a 36% increase from P1.3 billion
realized in the same period last year, mainly driven by the continued growth in
the call center business (ePLDT Ventus).  </p>

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

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">Consolidated call
center revenues continued its robust performance, growing 48% to P1.2 billion
as a result of increases in capacity utilization and billable hours for new and
existing clients. Call center revenues make up 68% of ePLDT&#146;s total revenues.
ePLDT Ventus  now operates seven sites with combined call center seats of 4,660
and an employee base of close to 4,700. </p>

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">On 11<sup>th</sup> July
2006, ePLDT completed the acquisition of 100% of SPi Technologies, Inc. and its
direct and indirect Philippine and offshore subsidiaries (&#147;SPi&#148;).  SPi is the 2<sup>nd</sup>
largest pure-play business process outsourcing (&#147;BPO&#148;) company and the 9<sup>th</sup> largest
independent BPO service provider worldwide.  It has operations in 19 locations
in North America, Europe and Asia.  Its core capabilities include content
editorial and production, litigation support coding and electronic discovery,
medical transcription, and database structuring and management. </p>

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">The acquisition of
SPi, together with ePLDT&#146;s existing Ventus call center group, creates the
industry&#146;s foremost BPO services provider with over 11,000 employees and about
8,300 seats in its combined BPO/call center operations.    </p>

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">

<div align='center'><center><table style='font-family:arial,helvetica,sans-serif;font-size:9pt'  cellpadding=0 cellspacing=0>
 <tr>
 <td  height=34 style='vertical-align:top'>



 <div style='padding:3.6pt 7.2pt 3.6pt 7.2pt'>
 <p style="margin-top:0;margin-bottom:0">Page 8 of 10</p>
 </div>
 <p style="margin-top:0;margin-bottom:0">

 &nbsp;</td>
 </tr>
</table></center></div>

&#147;With SPi&#146;s well-established presence in
the U.S. and its domain expertise in a variety of service verticals, we now
have a unique opportunity to increase our participation in the growing base of
the global outsourcing and offshoring market. We are also exploring the
acquisition, through SPi, of a US-based medical transcription company to
further SPi&#146;s goal of becoming a significant player in the growing health care
outsourcing industry. The investment in SPI manifests our commitment to make
the Philippines one of the leading BPO locations in the world and our abiding
faith in the capabilities of the Filipino workers&#148;, said <b>Ray C. Espinosa,
ePLDT President and CEO</b>. </p>

</div>

<br clear=all
style='page-break-before:auto'>

<div>

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

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

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0"><b><u>Conclusion </u></b></p>

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

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&#147;With the cellular
industry moving past its rapid-growth phase, the need to shift into broadband
and data services has become increasingly apparent. Management understands the
complexities and challenges of the changing market environment and we will
manage new technologies in the context of our subscribers&#146; needs&#148;, added
Nazareno. </p>

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&#147;Over the medium
term, our goals are to continue achieving growth in our core businesses while
establishing new revenue streams from recent investments, principally SPi.  Our
strong cash flows provide us with this &#147;triple play&#148; ability &#150; new investments,
sustained capital expenditures and increasing dividend yields.  In this way, we
address shareholder needs both for the present and for the longer term,&#148;
concluded<b> Chairman Manuel V. Pangilinan</b>. </p>

<p align=center style='margin-bottom:0pt;margin-bottom:.0001pt;
text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p align=center style='margin-bottom:0pt;margin-bottom:.0001pt;
text-align:center' style="margin-top:0;margin-bottom:0">### </p>

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

<div align='center'><center><table style='font-family:arial,helvetica,sans-serif;font-size:9pt'  border=0 cellspacing=0 cellpadding=0  style='width:467.4pt;border-collapse:collapse'>
 <tr>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>&nbsp;</b></p>
 </td>
 <td  colspan=4 valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>PLDT Consolidated</b></p>
 <p style="margin-top:0;margin-bottom:0"><b><u>Six Months ended June 30</u></b><b>        <u>Three Months ended June 30</u></b></p>
 </td>
 </tr>
 <tr>
 <td style='border:none;padding:0pt 0pt 0pt 0pt'  ><p style="margin-top:0;margin-bottom:0">&nbsp;</td>
 <td  valign=top style=' border:none;border-bottom:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>2006</b></p>
 </td>
 <td  valign=top style=' border:none;border-bottom:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>2005</b></p>
 </td>
 <td  valign=top style=' border:none;border-bottom:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>2006</b></p>
 </td>
 <td  valign=top style=' border:none;border-bottom:solid windowtext 1.0pt;
 padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>2005</b></p>
 </td>
 </tr>
</table></center></div>

<div align='center'><center><table style='font-family:arial,helvetica,sans-serif;font-size:9pt'  border=0 cellspacing=0 cellpadding=0  style='width:463.75pt;border-collapse:collapse'>
 <tr style='height:10.9pt'>
 <td  colspan=2 valign=top style=' padding:0pt 5.4pt 0pt 5.4pt;
 height:10.9pt'>
 <p style="margin-top:0;margin-bottom:0"><b>Service revenues </b></p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt;
 height:10.9pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>60,640 </b></p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt;
 height:10.9pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>59,543 </b></p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt;
 height:10.9pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>30,662 </b></p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt;
 height:10.9pt'>
 <p align=right style='text-align:right' style="margin-top:0;margin-bottom:0"><b>30,268 </b></p>
 </td>
 </tr>
 <tr style='height:11.65pt'>
 <td  colspan=2 valign=top style=' padding:0pt 5.4pt 0pt 5.4pt;
 height:11.65pt'>
 <p style="margin-top:0;margin-bottom:0"><b>Non-service revenues </b></p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt;
 height:11.65pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>1,383 </b></p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt;
 height:11.65pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>1,422 </b></p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt;
 height:11.65pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>674 </b></p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt;
 height:11.65pt'>
 <p align=right style='text-align:right' style="margin-top:0;margin-bottom:0"><b>607 </b></p>
 </td>
 </tr>
 <tr style='height:11.65pt'>
 <td  colspan=2 valign=top style=' border:none;
 border-bottom:solid black 1.25pt;padding:0pt 5.4pt 0pt 5.4pt;height:11.65pt'>
 <p style="margin-top:0;margin-bottom:0"><b>Other income </b></p>
 </td>
 <td  valign=top style=' border:none;border-bottom:solid black 1.25pt;
 padding:0pt 5.4pt 0pt 5.4pt;height:11.65pt'>
 <p align=right style='margin-right:19.55pt;text-align:right' style="margin-top:0;margin-bottom:0"><b>338 </b></p>
 </td>
 <td  valign=top style=' border:none;border-bottom:solid black 1.25pt;
 padding:0pt 5.4pt 0pt 5.4pt;height:11.65pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>173 </b></p>
 </td>
 <td  valign=top style=' border:none;border-bottom:solid black 1.25pt;
 padding:0pt 5.4pt 0pt 5.4pt;height:11.65pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>206</b></p>
 </td>
 <td  valign=top style=' border:none;border-bottom:solid black 1.25pt;
 padding:0pt 5.4pt 0pt 5.4pt;height:11.65pt'>
 <p align=right style='text-align:right' style="margin-top:0;margin-bottom:0"><b> 119 </b></p>
 </td>
 </tr>
 <tr style='height:21.0pt'>
 <td  colspan=2 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt;height:21.0pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' border:none;padding:0pt 5.4pt 0pt 5.4pt;
 height:21.0pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>62,361 </b></p>
 </td>
 <td  valign=top style=' border:none;padding:0pt 5.4pt 0pt 5.4pt;
 height:21.0pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>61,138 </b></p>
 </td>
 <td  valign=top style=' border:none;padding:0pt 5.4pt 0pt 5.4pt;
 height:21.0pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>31,542</b></p>
 </td>
 <td  valign=top style=' border:none;padding:0pt 5.4pt 0pt 5.4pt;
 height:21.0pt'>
 <p align=right style='text-align:right' style="margin-top:0;margin-bottom:0"><b> 30,994 </b></p>
 </td>
 </tr>
 <tr style='height:25.4pt'>
 <td  colspan=2 style=' padding:0pt 5.4pt 0pt 5.4pt;
 height:25.4pt'>
 <p style="margin-top:0;margin-bottom:0"><b>Expenses </b></p>
 </td>
 <td  style=' padding:0pt 5.4pt 0pt 5.4pt;height:25.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>43,736 </b></p>
 </td>
 <td  style=' padding:0pt 5.4pt 0pt 5.4pt;height:25.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>39,103 </b></p>
 </td>
 <td  style=' padding:0pt 5.4pt 0pt 5.4pt;height:25.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>24,189 </b></p>
 </td>
 <td  style=' padding:0pt 5.4pt 0pt 5.4pt;height:25.4pt'>
 <p align=right style='text-align:right' style="margin-top:0;margin-bottom:0"><b>21,673 </b></p>
 </td>
 </tr>
 <tr style='height:23.15pt'>
 <td  colspan=2 style=' padding:0pt 5.4pt 0pt 5.4pt;
 height:23.15pt'>
 <p style="margin-top:0;margin-bottom:0"><b>Income before income tax </b></p>
 </td>
 <td  style=' padding:0pt 5.4pt 0pt 5.4pt;height:23.15pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>18,625 </b></p>
 </td>
 <td  style=' padding:0pt 5.4pt 0pt 5.4pt;height:23.15pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>22,035 </b></p>
 </td>
 <td  style=' padding:0pt 5.4pt 0pt 5.4pt;height:23.15pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>7,353 </b></p>
 </td>
 <td  style=' padding:0pt 5.4pt 0pt 5.4pt;height:23.15pt'>
 <p align=right style='text-align:right' style="margin-top:0;margin-bottom:0"><b>9,321 </b></p>
 </td>
 </tr>
 <tr style='height:23.65pt'>
 <td  colspan=2 style=' padding:0pt 5.4pt 0pt 5.4pt;
 height:23.65pt'>
 <p style="margin-top:0;margin-bottom:0"><b>Provision for income tax </b></p>
 </td>
 <td  style=' padding:0pt 5.4pt 0pt 5.4pt;height:23.65pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>2,986 </b></p>
 </td>
 <td  style=' padding:0pt 5.4pt 0pt 5.4pt;height:23.65pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>5,483 </b></p>
 </td>
 <td  style=' padding:0pt 5.4pt 0pt 5.4pt;height:23.65pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>477 </b></p>
 </td>
 <td  style=' padding:0pt 5.4pt 0pt 5.4pt;height:23.65pt'>
 <p align=right style='text-align:right' style="margin-top:0;margin-bottom:0"><b>2,008 </b></p>
 </td>
 </tr>
 <tr style='height:18.9pt'>
 <td  colspan=2 style=' border:none;border-bottom:double black 1.5pt;
 padding:0pt 5.4pt 0pt 5.4pt;height:18.9pt'>
 <p style="margin-top:0;margin-bottom:0"><b>Net income - As Reported </b></p>
 </td>
 <td  style=' border:none;border-bottom:double black 1.5pt;
 padding:0pt 5.4pt 0pt 5.4pt;height:18.9pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>15,306 </b></p>
 </td>
 <td  style=' border:none;border-bottom:double black 1.5pt;
 padding:0pt 5.4pt 0pt 5.4pt;height:18.9pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>16,520 </b></p>
 </td>
 <td  style=' border:none;border-bottom:double black 1.5pt;
 padding:0pt 5.4pt 0pt 5.4pt;height:18.9pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>6,725</b></p>
 </td>
 <td  style=' border:none;border-bottom:double black 1.5pt;
 padding:0pt 5.4pt 0pt 5.4pt;height:18.9pt'>
 <p align=right style='text-align:right' style="margin-top:0;margin-bottom:0"><b> 7,303 </b></p>
 </td>
 </tr>
 <tr style='height:15.4pt'>
 <td  colspan=2 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt;height:15.4pt'>
 <p style="margin-top:0;margin-bottom:0"><b>EPS, Basic </b><b>(a) </b></p>
 </td>
 <td  style=' border:none;padding:0pt 5.4pt 0pt 5.4pt;
 height:15.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>83.02 </b></p>
 </td>
 <td  style=' border:none;padding:0pt 5.4pt 0pt 5.4pt;
 height:15.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>92.44 </b></p>
 </td>
 <td  style=' border:none;padding:0pt 5.4pt 0pt 5.4pt;
 height:15.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>36.28 </b></p>
 </td>
 <td  style=' border:none;padding:0pt 5.4pt 0pt 5.4pt;
 height:15.4pt'>
 <p align=right style='text-align:right' style="margin-top:0;margin-bottom:0"><b>40.51 </b></p>
 </td>
 </tr>
 <tr style='height:19.0pt'>
 <td  colspan=2 valign=top style=' padding:0pt 5.4pt 0pt 5.4pt;
 height:19.0pt'>
 <p style="margin-top:0;margin-bottom:0"><b>EPS, Diluted </b><b>(a) </b></p>
 </td>
 <td  style=' padding:0pt 5.4pt 0pt 5.4pt;height:19.0pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>83.00 </b></p>
 </td>
 <td  style=' padding:0pt 5.4pt 0pt 5.4pt;height:19.0pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>87.88 </b></p>
 </td>
 <td  style=' padding:0pt 5.4pt 0pt 5.4pt;height:19.0pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>36.28 </b></p>
 </td>
 <td  style=' padding:0pt 5.4pt 0pt 5.4pt;height:19.0pt'>
 <p align=right style='text-align:right' style="margin-top:0;margin-bottom:0"><b>40.51 </b></p>
 </td>
 </tr>
 <tr style='height:20.5pt'>
 <td  colspan=2 style=' border:none;border-bottom:double black 2.25pt;
 padding:0pt 5.4pt 0pt 5.4pt;height:20.5pt'>
 <p style="margin-top:0;margin-bottom:0"><b>Core net income</b><b>(b) </b></p>
 </td>
 <td  valign=bottom style=' border:none;border-bottom:
 double black 2.25pt;padding:0pt 5.4pt 0pt 5.4pt;height:20.5pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>15,207</b></p>
 </td>
 <td  valign=bottom style=' border:none;border-bottom:
 double black 2.25pt;padding:0pt 5.4pt 0pt 5.4pt;height:20.5pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b> 13,691</b></p>
 </td>
 <td  valign=bottom style=' border:none;border-bottom:
 double black 2.25pt;padding:0pt 5.4pt 0pt 5.4pt;height:20.5pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b> 7,641</b></p>
 </td>
 <td  valign=bottom style=' border:none;border-bottom:
 double black 2.25pt;padding:0pt 5.4pt 0pt 5.4pt;height:20.5pt'>
 <p align=right style='text-align:right' style="margin-top:0;margin-bottom:0"><b> 7,193 </b></p>
 </td>
 </tr>
 <tr style='height:16.0pt'>
 <td  colspan=2 valign=top style=' border:none;
 padding:0pt 5.4pt 0pt 5.4pt;height:16.0pt'>
 <p style="margin-top:0;margin-bottom:0"><b>EPS, Basic </b><b>(c) </b></p>
 </td>
 <td  style=' border:none;padding:0pt 5.4pt 0pt 5.4pt;
 height:16.0pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>82.48 </b></p>
 </td>
 <td  style=' border:none;padding:0pt 5.4pt 0pt 5.4pt;
 height:16.0pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>75.85 </b></p>
 </td>
 <td  style=' border:none;padding:0pt 5.4pt 0pt 5.4pt;
 height:16.0pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>41.35 </b></p>
 </td>
 <td  style=' border:none;padding:0pt 5.4pt 0pt 5.4pt;
 height:16.0pt'>
 <p align=right style='text-align:right' style="margin-top:0;margin-bottom:0"><b>39.89 </b></p>
 </td>
 </tr>
 <tr style='height:32.65pt'>
 <td  colspan=2 valign=top style=' padding:0pt 5.4pt 0pt 5.4pt;
 height:32.65pt'>
 <p style="margin-top:0;margin-bottom:0"><b>EPS, Diluted </b><b>(c) </b></p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt;
 height:32.65pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>82.46 </b></p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt;
 height:32.65pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>72.62 </b></p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt;
 height:32.65pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><b>41.35 </b></p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt;
 height:32.65pt'>
 <p align=right style='text-align:right' style="margin-top:0;margin-bottom:0"><b>39.89 </b></p>
 </td>
 </tr>
 <tr style='height:29.75pt'>
 <td  valign=bottom style=' padding:0pt 5.4pt 0pt 5.4pt;
 height:29.75pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><i>(a)</i></p>
 </td>
 <td  valign=bottom style=' padding:0pt 5.4pt 0pt 5.4pt;
 height:29.75pt'>
 <p style="margin-top:0;margin-bottom:0"><i> EPS based on reported net
 income </i></p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt;
 height:29.75pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt;
 height:29.75pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt;
 height:29.75pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt;
 height:29.75pt'>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 </tr>
 <tr height=0>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 <td  style='border:none'></td>
 </tr>
</table></center></div>

<p style='margin-left:18.0pt;text-indent:-18.0pt' style="margin-top:0;margin-bottom:0"><i><sup>(b)                 </sup></i><i>Net income as adjusted for the net
effect of gain/loss on FX and derivative transactions, </i></p>

<p style='margin-left:18.0pt;text-indent:-18.0pt' style="margin-top:0;margin-bottom:0"><i><sup>                        </sup></i><i>additional depreciation charges and
recognition of deferred tax assets </i></p>

<p style="margin-top:0;margin-bottom:0"><i><sup>(c)</sup></i><i>      EPS based on core net income </i></p>

<p style='text-align:justify;text-justify:inter-ideograph;line-height:
normal' style="margin-top:0;margin-bottom:0">

<div align='center'><center><table style='font-family:arial,helvetica,sans-serif;font-size:9pt'  cellpadding=0 cellspacing=0 align=left>
 <tr>
 <td  height=59></td>
 </tr>
 <tr>
 <td></td>
 <td  height=34 style='vertical-align:top'>



 <div style='padding:3.6pt 7.2pt 3.6pt 7.2pt'>
 <p style="margin-top:0;margin-bottom:0">Page 9 of 10</p>
 </div>
 <p style="margin-top:0;margin-bottom:0">

 &nbsp;</td>
 </tr>
</table></center></div>

<br clear=all style='page-break-before:always'>
 &nbsp;</p>

<br clear=ALL>

<p style='text-align:justify;text-justify:inter-ideograph;line-height:
normal' style="margin-top:0;margin-bottom:0"><i>This press release may contain some statements which constitute
&#147;forward-looking statements&#148; that are subject to a number of risks and uncertainties
that could affect PLDT&#146;s business and results of operations.  Although PLDT
believes that expectations reflected in any forward-looking statements are
reasonable, it can give no guarantee of future performance, action or events. </i></p>

</div>

<br clear=all
style='page-break-before:auto'>

<div>

<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">For further information, please contact: </p>

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

<p style="margin-top:0;margin-bottom:0"><b>Anabelle L.
Chua                  Anna V. Bengzon                  Ramon R. Isberto </b></p>

<p style='margin-right:3.0pt' style="margin-top:0;margin-bottom:0">Tel No: 816-8213                    Tel No: 816-8024                    Tel
No: 511-3101</p>

<p style='margin-right:3.0pt' style="margin-top:0;margin-bottom:0">Fax No: 844-9099                   Fax No: 810-7138                   Fax
No: 893-5174 </p>

</div>

<br clear=all
style='page-break-before:auto'>

<div>

<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-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0"><b>About PLDT </b></p>

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">PLDT is the
leading telecommunications provider in the Philippines. Through its three
principal business groups &#150; fixed line, wireless and information communications
technology &#150; PLDT offers a wide range of telecommunications services across the
 Philippines&#146; most extensive fiber optic backbone and fixed line, cellular and
satellite network. </p>

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-bottom:0pt;margin-bottom:.0001pt;text-align:justify;
text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">PLDT is listed on
the Philippine Stock Exchange (PSE:TEL) and its American depositary shares are
listed on the New York Stock Exchange (NYSE:PHI).  PLDT has one of the largest
market capitalizations among Philippine listed companies. </p>

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

<p style='text-align:justify;text-justify:inter-ideograph;line-height:
normal' style="margin-top:0;margin-bottom:0">

<div align='center'><center><table style='font-family:arial,helvetica,sans-serif;font-size:9pt'  cellpadding=0 cellspacing=0>
 <tr>
 <td  height=34 style='vertical-align:top'>



 <div style='padding:3.6pt 7.2pt 3.6pt 7.2pt'>
 <p style="margin-top:0;margin-bottom:0">Page 10 of 10</p>
 </div>
 <p style="margin-top:0;margin-bottom:0">

 &nbsp;</td>
 </tr>
</table></center></div>

Further information can be obtained by
visiting the web at www.pldt.com.ph.</p>

</div>

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

<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">Signatures</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">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.</p>

<p style='text-indent:36.0pt' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-indent:36.0pt' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='text-indent:36.0pt' 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:258.0pt;margin-left:167.4pt;border-collapse:collapse'>
 <tr>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <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 style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 </tr>
 <tr>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='margin-left:.6pt' style="margin-top:0;margin-bottom:0">By        :     <u>/s/ Ma. Lourdes C. Rausa-Chan</u><u>                          </u>    <u>  </u></p>
 <p style="margin-top:0;margin-bottom:0">Name  :     Ma.
 Lourdes C. Rausa-Chan</p>
 <p style="margin-top:0;margin-bottom:0">Title     :     Senior
 Vice President, Corporate</p>
 <p style="margin-top:0;margin-bottom:0">                  Affairs
 and Legal Services Head </p>
 <p style="margin-top:0;margin-bottom:0">                  and
 Corporate Secretary</p>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 </tr>
 <tr>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='margin-left:42.6pt' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 </tr>
</table></center></div>

<p style='text-indent:36.0pt' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-left:216.0pt' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-left:216.0pt' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<p style='margin-left:216.0pt' 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">Date:
August 8, 2006</p>

<p style='text-indent:36.0pt' style="margin-top:0;margin-bottom:0">&nbsp;</p>

</div>

</body>

</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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