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<SEC-DOCUMENT>0000078150-06-000050.txt : 20061107
<SEC-HEADER>0000078150-06-000050.hdr.sgml : 20061107
<ACCEPTANCE-DATETIME>20061107060131
ACCESSION NUMBER:		0000078150-06-000050
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20061107
FILED AS OF DATE:		20061107
DATE AS OF CHANGE:		20061107

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:		061191932

	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>dividend_fs.htm
<DESCRIPTION>CASH DIVIDEND DECLARATION AND PRESS REELASE
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<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 November 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 Series IV Cumulative Non-Convertible Redeemable
 Preferred Stock and Series G,
 N, P and S 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 nine (9) months ended September
 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>
 <tr>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <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-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>
 </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">&nbsp;</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">November 7, 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">&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='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 November 7,
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: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"><a name="OLE_LINK1">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A
total of P12,285,000.00 on all of the outstanding shares of the Company&#146;s
Series IV Cumulative Non-Convertible Redeemable Preferred Stock, for the
quarter ending December 15, 2006, payable on December 15, 2006 to the holder of
record on November 24, 2006.</a></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: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;
P1.00
per outstanding share of the Company&#146;s Series G 10% Cumulative Convertible Preferred
Stock, for the annual period ending November 30, 2006, payable on December 29,
2006, to the holders of record on December 7, 2006.</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: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;
P1.00
per outstanding share of the Company&#146;s Series N 10% Cumulative Convertible
Preferred Stock, for the annual period ending November 30, 2006, payable on
December 29, 2006, to the holders of record on December 7, 2006.</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: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;
P1.00
per outstanding share of the Company&#146;s Series P 10% Cumulative Convertible
Preferred Stock, for the annual period ending November 30, 2006, payable on
December 29, 2006, to the holders of record on December 7, 2006.</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: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;
P1.00
per outstanding share of the Company&#146;s Series S 10% Cumulative Convertible
Preferred Stock, for the annual period ending November 30, 2006, payable on
December 29, 2006, to the holders of record on December 7, 2006.</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-right:42.3pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">            Thank
you.</p>

<p style='margin-right:42.3pt;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='border-collapse:collapse'>
 <tr>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p style='margin-right:42.3pt;text-align:justify;text-justify:
 inter-ideograph' style="margin-top:0;margin-bottom:0">






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

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

 </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 align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><u>/s/ Ma. Lourdes C. Rausa-Chan</u></p>
 <p style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0">MA. LOURDES C.
 RAUSA-CHAN</h4>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Corporate Secretary</p>
 </td>
 </tr>
</table></center></div>

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

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

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

<p style='margin-bottom:0pt;margin-bottom:.0001pt' 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
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 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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 <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 2nd</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">2,190,235</p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">As of September 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>
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 <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>
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 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>
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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>

<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'>
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 <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>
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 <td  style='border:none'></td>
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 <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=68 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=66></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 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>

<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 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-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;
7 November 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='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.&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=145></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">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 November 7, 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: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">1.     A total of P12,285,000.00 on all of the outstanding
shares of the Company&#146;s Series IV Cumulative Non-Convertible Redeemable
Preferred Stock, for the quarter ending December 15, 2006, payable on December
15, 2006 to the holder of record on November 24, 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">2.     P1.00 per outstanding share of the Company&#146;s Series G
10% Cumulative Convertible Preferred Stock, for the annual period ending
November 30, 2006, payable on December 29, 2006, to the holders of record on
December 7, 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 N
10% Cumulative Convertible Preferred Stock, for the annual period ending
November 30, 2006, payable on December 29, 2006, to the holders of record on
December 7, 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 P
10% Cumulative Convertible Preferred Stock, for the annual period ending
November 30, 2006, payable on December 29, 2006, to the holders of record on
December 7, 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 S
10% Cumulative Convertible Preferred Stock, for the annual period ending
November 30, 2006, payable on December 29, 2006, to the holders of record on December
7, 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=';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"><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>
 <p align=center style=';text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 </tr>
</table></center></div>

<p style='margin-right:42.3pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">November
7, 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=65></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">&nbsp;</p>

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

<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">November 7, 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 nine (9) months ended September 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=216></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 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" 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 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">November 7, 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 nine (9) months ended September 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" 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=219></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 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</h1>

<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-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 2nd</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>
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 <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>
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 </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">2,190,235</p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">As of September 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"><b> </b></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"><b>&nbsp;</b></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>
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 </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>
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 </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>
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 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>
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 </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 style='margin-top:6.0pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0"><b>&nbsp;</b></p>

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

<p style='margin-top:0pt' 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=5></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 10</p>
 </div>
 <p style="margin-top:0;margin-bottom:0">

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

&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 align=right style=';text-align:right' style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0">Exhibit 2</h1>

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

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

<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='margin-left:36.0pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-36.0pt' style="margin-top:0;margin-bottom:0">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
7 November 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">6.&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">7.&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 style='margin-left:36.0pt;text-indent:-36.0pt' style="margin-top:0;margin-bottom:0">8.&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=';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">11.&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">&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='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=71></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 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>

<div style='border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 1.0pt 0pt'>

<p align=left style='text-align:left;border:none;padding:
0pt' style="margin-top:0;margin-bottom:0"><b>Press
Release</b></p>

</div>

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

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

<p align=center style='margin-left:0pt;text-align:center' style="margin-top:0;margin-bottom:0"><b><u>THIRD QUARTER NET INCOME
SURGES TO RECORD P10.4 BILLION</u></b></p>

<p align=center style='margin-left:0pt;text-align:center' style="margin-top:0;margin-bottom:0"><b><u>NINE MONTHS&#146; NET INCOME
REACHES P25.7 BILLION</u></b></p>

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

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

<ul style='margin-top:0pt' type=disc>
 <li style='text-align:justify;text-justify:inter-ideograph'>Reported
 consolidated net income of P25.7 billion for the nine months of
 2006, 4% higher than P24.8 billion in same period of 2005 </li>
 <li style='text-align:justify;text-justify:inter-ideograph'>Third quarter net
 income of P10.4 billion up 55% compared with second quarter of P6.7
 billion due to forex gains and other exceptional items</li>
 <li style='text-align:justify;text-justify:inter-ideograph'>Core net income at P23.2
 billion (before the effects of forex, deferred tax assets and additional
 depreciation), an increase of 11% from first nine months of 2005</li>
 <li style='text-align:justify;text-justify:inter-ideograph'>Core EPS up 8% to P125
 per share</li>
 <li style='text-align:justify;text-justify:inter-ideograph'>Consolidated EBITDA
 reaches P60.7 billion, up 5%; EBITDA margin improves to 66% of
 service revenues</li>
 <li style='text-align:justify;text-justify:inter-ideograph'>Consolidated net
 debt balance down to less than P70 billion equivalent (US$1.4
 billion) with net debt to EBITDA at 0.85 times</li>
 <li style='text-align:justify;text-justify:inter-ideograph'>Piltel  to be
 debt-free by December 2006 </li>
</ul>

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

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0"><b><i>MANILA, Philippines, 7th
November 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 nine months of 2006, reporting a consolidated net income of P25.7
billion compared with P24.8 billion for the same period last year. Core
earnings of P23.2 billion, before the effects of foreign exchange
gains/losses, deferred tax assets and additional depreciation, improved 11%
compared with core earnings of P20.9 billion for the first nine months
of 2005.  </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">Consolidated service
revenues rose by 3% to P92 billion. Consolidated EBITDA improved by 5%
to P60.7 billion while EBITDA margins rose to 66% compared with 64% last
year.  </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 line with PLDT Group&#146;s
strategy to step up the upgrade of its Fixed Line and Wireless networks,
consolidated capital expenditures increased to P16.9 billion.  PLDT
Fixed Line is currently upgrading about 300,000 fixed lines to NGN while wireless
subsidiary Smart Communications, Inc. (&#147;Smart&#148;) 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. Despite the higher capital expenditure level,
consolidated free cash flow remained strong at P32.1 billion for the
first nine months of the year.</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">The Group&#146;s consolidated
balance sheet further strengthened with consolidated debt balances down to less
than US$1.8 billion.  Net debt to EBITDA and net debt to free cash flow ratios
continued to improve, falling to 0.85 times and 1.7 times, respectively. </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=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 5 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 align=right style=';text-align:right' style="margin-top:0;margin-bottom:0">&nbsp;</p>

<br clear=ALL>

<p style="margin-top:0;margin-bottom:0">On 25th
October 2006, cellular subsidiary Pilipino Telephone Corporation (&#147;Piltel&#148;)
submitted notices of its intent to make the final voluntary prepayment of its
principal debt.  The aggregate prepayment amount of US$233 million, of which
US$161 million is owed to Smart and US$72 million is owed to third parties,
represents the balance of Piltel&#146;s total outstanding restructured debt after
the initial payment of US$176 million was paid on 5th June 2006.
The final prepayment will be effected on 4th December 2006 after
which Piltel&#146;s restructured debt balance will be reduced to zero. Piltel is
currently seeking approval from the Bangko Sentral ng Pilipinas for the
purchase of foreign exchange requirements relating to the prepayment.</p>

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

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

<p align=left style='text-align:left' style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0"><b><u>Wireless:   Moving Beyond Cellular</u></b></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">Consolidated wireless
service revenues rose to P58 billion for the first nine months of 2006,
6% higher than the P55 billion realized in the same period last year.
Consolidated wireless EBITDA grew by 6% to P38.9 billion for the first
nine months of 2006 versus P36.8 billion for the first nine months of
2005.  EBITDA margins remained at 67%.  </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">The PLDT Group&#146;s total
cellular subscriber base for the first nine months of 2006 grew by over 2.5
million subscribers to 22.9 million.  Smart recorded net additions of
approximately 1.1 million subscribers while <i>Talk &#145;N Text</i> added about 1.4
million subscribers to end the first nine months of 2006 with 16.5 million and
6.4 million subscribers, respectively.    </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">Consistent with Smart&#146;s
objective to develop new businesses beyond cellular, Smart increased its
wireless broadband subscribers to 93,000 as of the end of September 2006 under
its <i>Smart Bro</i> wireless broadband service. <i>SmartBro</i> grew its
subscriber base by 35,000 in the third quarter alone. Smart now has over 2,270
wireless broadband-enabled base stations providing high-speed internet access
in 386 cities and municipalities all over the country at very affordable
rates.  The increased network coverage of <i>SmartBro</i> provides the Group
with a complementary broadband service in areas that are currently not covered
by PLDT&#146;s fixed line DSL network.</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">The third quarter of 2006
saw a series of marketing launches designed to enhance both consumer product
benefits as well as brand equities. In a move to reinforce <i>Smart Buddy</i>&#146;s
leadership, Smart  launched the &#147;Ang Saya&#148; thematic campaign featuring five of
the hottest young endorsers in the Philippines today.  The campaign positions <i>Smart
Buddy</i> as an innovative lifestyle brand which adds excitement, fun and helps
you get more &#147;life out of life&#148;. </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"><a
name="OLE_LINK5"></a><a name="OLE_LINK4"><i>Talk &#145;N Text</i></a>, on the other hand, followed with
its &#147;Gumagaan ang Life&#148; thematic campaign in September.  This highlights <i>Talk
&#145;N Text</i>&#146;s superior value proposition aimed at lower-income segments of the
market.  The material is timely and relevant as it shows how <i>Talk &#145;N Text</i>
makes communication possible even with a low income because it is truly
&#147;value-for-money&#148;. </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=67></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 6 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='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">Also in September, <i>Smart
Buddy</i> and <i>Talk &#145;N Text</i> launched the <i>All Text 20</i> load, an
electronic load denomination which offers 100 on-net SMS for P20. <i>All
 Tex t20 </i>is valid for a day and is conveniently available in over 800,000
retailers.  <i>All Text 20</i> replaces <i>Unli</i> (the P20 load w/
unlimited SMS which was launched in the second quarter of 2006) and provides
better network efficiency while increasing yield per SMS. </p>

<p align=right style=';text-align:right' 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">&#147;The innovative programs
launched in the third quarter and the encouraging growth of <i>SmartBro</i>
have helped sustain the Company&#146;s performance level, despite the historical
tendency of a &#147;slowdown&#148; in that period and puts us a step ahead in moving
beyond cellular,&#148; said <b>Napoleon L.</b> <b>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>

<p style="margin-top:0;margin-bottom:0"><u>PLDT
Fixed Line:  Stepping up Broadband</u></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">Fixed Line service
revenues decreased 2% to P35.9 billion in the first nine months of 2006
from P36.7 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 partly because of the 6% appreciation of the
peso year-on-year.  Fixed line revenues would have improved 2% year-on-year if
foreign exchange rates had remained stable.</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">Retail DSL continued to
grow as broadband subscribers reached 126,000 while our <i>Vibe</i> dial-up
Internet service had 422,000 subscribers as of end-September 2006.  <i>PLDT DSL</i>
and <i>Vibe</i> contributed P2.6 billion in revenues for the first nine
months of 2006, up 38% from last year. </p>

<p style='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">EBITDA for the first nine
months of 2006 rose by 4% to P21.2 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='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">Additional depreciation
expenses of P6.1 billion were taken up in the first nine 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 4%.</p>

<p style='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">&quot;We
continue to reposition the fixed line business by growing our data revenues
which increased by 32% year-on-year and now represent over 25% of our fixed
line revenues.  The NGN rollout is now being concentrated in priority areas
where corporate data and residential demand have been identified.  Together
with <i>SmartBro</i>, we effectively have a dual-pronged approach in our goal
of &#147;broadbanding&#148; the country,&quot; declared <b>Nazareno</b>.<b> </b></p>

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">
</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=84></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 7 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"><u>ePLDT:
Sharpening its Focus</u></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">ePLDT, the Group&#146;s
information and communications technology arm, reported service revenues of P3.8
billion for the first nine months of 2006, an 80% increase from P2.1
billion realized in the same period last year, as a result of the continued
growth in the call center business (ePLDT Ventus) and the consolidation of SPi
Technologies, Inc. (&#147;SPi&#148;) in July 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">Consolidated <a
name="OLE_LINK3"></a><a name="OLE_LINK2">call center revenues</a> continued to
improve significantly, growing 41% to P1.9 billion as a result of
increases in capacity utilization and billable hours for new and existing
clients, despite the appreciation of the peso. Call center revenues make up 50%
of ePLDT&#146;s total revenues. <i>ePLDT Ventus</i>  now operates seven sites with
combined call center seats of more than 5,000 and an employee base of about
5,000. </p>

<p style='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">&nbsp;</p>

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">SPi, on the other hand,
generated revenues of P3.1 billion in the first nine months of 2006, of
which P930 million were consolidated into ePLDT from July 2006 onwards
after ePLDT completed its acquisition. SPi is the 2nd largest
pure-play business process outsourcing (&#147;BPO&#148;) company and the 9th 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.  SPi currently
has over 3,500 seats in support of its various business lines.</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 August 2006, SPi
acquired 100% of CyMed, Inc. (&#147;CyMed&#148;) for US$35 million.  CyMed provides
medical transcription services for more than 400 healthcare systems across 49
states in the United States.  The acquisition has catapulted SPi into becoming
the third largest company in the outsourced medical transcription industry.</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">SPi and <i>ePLDT Ventus</i>
now constitute the Philippines&#146; foremost BPO services provider with over 10,000
employees and more than 8,500 seats in its combined BPO/call center operations.
Their combined revenues of approximately P5 billion account for 5% of
the PLDT Group&#146;s consolidated service revenues.  </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">&#147;The addition of CyMed
strengthens SPi&#146;s market position and should accelerate SPi Healthcare&#146;s path
to profitability by better leveraging its fixed costs across more customers&#148;,
said <b>Ray C. Espinosa, ePLDT President and CEO</b>.</p>

<p style='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"><b><u>&nbsp;</u></b></p>

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0"><b><u>Conclusion</u></b></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">On 23rd
October 2006, the PLDT Group submitted its response to the second consultative
paper of the National Telecommunications Commission (&#147;NTC&#148;) on whether
&#147;Significant Market Power&#148; (&#147;SMP&#148;) obligations should be imposed on the
Philippine telecommunications industry.  In formulating its response, the PLDT
Group took into account industry interests as well as the broader context of
our nation&#146;s economic  development,  drawing  on  the  experience in  other
countries.  The PLDT </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">

<div align='center'><center><table style='font-family:arial,helvetica,sans-serif;font-size:9pt'  cellpadding=0 cellspacing=0 align=left>
 <tr>
 <td  height=6></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 8 of 10</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>

<br clear=ALL>

<p align=right style=';text-align:right' style="margin-top:0;margin-bottom:0">Exhibit 2</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">Group believes that the
basis for the need for regulatory reform is unclear and the envisioned SMP
regime is inappropriate for the Philippines as the market is highly competitive
and well-functioning.  In addition, the imposition of SMP and its attendant
obligations would discourage capital investments in a sector that the
Philippine economy is highly dependent on. The PLDT Group has  therefore
proposed that the NTC explore its full range of options available on a
cost-benefit basis, taking into consideration the specific local context of the
Philippine marketplace. </p>

<p style='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">&#147;The PLDT Group is in a
unique position in the industry &#150; we have the scale and ability to continue
investing significantly in infrastructure and services which can impact
positively on our country&#146;s development.  We have been always mindful however
that this strength begets much responsibility.  We have therefore seen to it
that our subscribers derive commensurate benefits in terms of value and
innovation,&#148; concluded<b> Chairman Manuel V. Pangilinan</b>.</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">###</p>

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

<p style="margin-top:0;margin-bottom:0"><img
width=618 height=496 src="dividend_fs001.gif"></p>

<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=55></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 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'>
Exhibit 2</p>

<p 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"><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>

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

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

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

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

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0"><b>For further information,
please contact:</b></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">Anabelle L.
Chua                     Anna V. Bengzon                    Ramon R. Isberto</h2>

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">Tel No: 816-8213                    Tel
No: 816-8024                    Tel No: 511-3101</p>

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">Fax No: 844-9099                   Fax
No: 810-7138                   Fax No: 893-5174</p>

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

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

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

<p align=right style=';text-align:right' 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"><b>About
PLDT</b></p>

<p style='text-align:justify;text-justify:inter-ideograph;
line-height:normal' 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='text-align:justify;text-justify:inter-ideograph;
line-height:normal' 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 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">Further
information can be obtained by visiting the web at <u>www.pldt.com.ph</u>.</p>

<p align=center style='text-align:center' 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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 <td  height=330></td>
 <td  ></td>
 <td  ></td>
 <td  ></td>
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 <td></td>
 <td colspan=2  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 10 of 10</p>
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 &nbsp;</td>
 </tr>
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 <td height=119></td>
 </tr>
 <tr>
 <td height=40></td>
 <td colspan=2  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 10 of 10</p>
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 &nbsp;</td>
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 <td height=110></td>
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 <td height=40></td>
 <td></td>
 <td colspan=2  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 10 of 10</p>
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 &nbsp;</td>
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</table></center></div>

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

<br clear=ALL>

<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-top:0;margin-bottom:0">By        :     <u>
 </u><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:
November 7, 2006</p>

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

</div>

</body>

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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
