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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000078150-07-000007.txt : 20070301
<SEC-HEADER>0000078150-07-000007.hdr.sgml : 20070301
<ACCEPTANCE-DATETIME>20070301060135
ACCESSION NUMBER:		0000078150-07-000007
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20070301
FILED AS OF DATE:		20070301
DATE AS OF CHANGE:		20070301

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:		07660392

	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
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<DESCRIPTION>PRESS RELEASE ISSUED BY FIRST PACIFIC CO. LTD.
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</head>

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

<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 March 2007</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='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">A copy of the
 disclosure letter we sent today to the Philippine Stock Exchange and the Securities
 and Exchange Commission regarding the press release issued by First Pacific
 Company Limited entitled &#147;First Pacific Completed the Acquisition of
 Additional 6.4% Interest in PLDT after Receiving Shareholders Approval&#148;.</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">5</p>
 </td>
 </tr>
</table></center></div>

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

<p 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=62 style='vertical-align:top'>



 <div style='padding:3.6pt 7.2pt 3.6pt 7.2pt'>
 <p style="margin-top:0;margin-bottom:0"><b>&nbsp;</b></p>
 </div>
 <p style="margin-top:0;margin-bottom:0">

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

&nbsp;</p>

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

<p align=right style=';text-align:right' 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 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">

<div align='center'><center><table style='font-family:arial,helvetica,sans-serif;font-size:9pt'  cellpadding=0 cellspacing=0>
 <tr>
 <td  height=62 style='vertical-align:top'>



 <div style='padding:3.6pt 7.2pt 3.6pt 7.2pt'>
 <p style="margin-top:0;margin-bottom:0"><b>&nbsp;</b></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>

<br clear=ALL>

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">March 1, 2007</p>

<p style='text-align:justify;text-justify:inter-ideograph' 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">&nbsp;</h6>

<p align=left style='text-align:left' style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0">The Philippine Stock Exchange</h6>

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

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">4<sup>th</sup> Floor PSE
Centre</p>

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

<p style='margin-left:0pt' 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 style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">Attention:        Atty.
Pete M. Malabanan </p>

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">                        <u>Head,
Disclosure Department</u></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">Ladies and 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 compliance
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 issued by First
Pacific Company Limited attached thereto entitled &#147;First Pacific Completed the
Acquisition of Additional 6.4% Interest in PLDT after Receiving Shareholders
Approval&#148;.</p>

<p style='text-indent:0pt' 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='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">Respectfully yours,</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="margin-top:0;margin-bottom:0"><u>/s/ Florentino D. Mabasa, Jr.</u></p>

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">FLORENTINO D. MABASA, JR.</p>

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

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">Encs.</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>
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 &nbsp;</td>
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</table></center></div>

&nbsp;</p>

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

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

<br clear=ALL>

<p style='' style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0">Exhibit 1</h6>

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

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

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

<p align=left style='text-align:left' style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0">March 1, 2007 </h6>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

<p style="margin-top:0;margin-bottom:0">In compliance
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 issued by First
Pacific Company Limited attached thereto entitled &#147;First Pacific Completed the
Acquisition of Additional 6.4% Interest in PLDT after Receiving Shareholders
Approval&#148;.</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">Respectfully yours,</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"><u>/s/ Florentino D. Mabasa,
Jr.</u></p>

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">FLORENTINO D. MABASA, JR.</p>

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

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">Encs.</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>
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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=right style=';text-align:right' style="margin-top:0;margin-bottom:0">Exhibit 1</p>

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

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

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

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

<p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">AND SRC RULE 17.1</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='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;
1 March 2007 </p>

<p style='margin-left:36.0pt;text-align:justify;text-justify:
inter-ideograph' style="margin-top:0;margin-bottom:0">(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="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;text-indent:-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' 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 style='text-align:justify;text-justify:inter-ideograph' 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)
816-8553/816-8556                                  </p>

<p align=left style='text-align:left;text-indent:36.0pt' 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' 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-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 or 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>

<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">            Title
of Each Class                             Number of Shares of Common Stock</p>

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">
          Licensed and Amount of Debt Outstanding</p>

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

<p style='margin-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>

<p style='margin-left:36.0pt;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>
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 <td  height=53></td>
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 <div style='padding:3.6pt 7.2pt 3.6pt 7.2pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Page 3 of 5</p>
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 &nbsp;</td>
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<br
clear=all style='page-break-before:always'>
 &nbsp;</p>

<br clear=ALL>

<p align=right style='margin-top:0pt;;
margin-bottom:0pt;margin-left:36.0pt;margin-bottom:.0001pt;text-align:right' style="margin-top:0;margin-bottom:0">Exhibit 1</p>

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

<p align=right style='margin-top:0pt;;
margin-bottom:0pt;margin-left:36.0pt;margin-bottom:.0001pt;text-align:right' 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">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Item 9 &#150; Other Events</p>

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

<p style="margin-top:0;margin-bottom:0">Attached hereto
is a copy of the press release issued by First Pacific Company Limited entitled
&#147;First Pacific Completed the Acquisition of Additional 6.4% Interest in PLDT
after Receiving Shareholders Approval&#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">&nbsp;</p>

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

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

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

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

<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-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">PHILIPPINE LONG DISTANCE</p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">TELEPHONE COMPANY</p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0"><u>/s/ Florentino D. Mabasa, Jr.</u></p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">FLORENTINO D. MABASA, JR.</p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Assistant Corporate Secretary</p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 </tr>
</table></center></div>

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

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">Date: 1 March 2007 </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">Distribution Copies:  5
copies - Securities &amp; Exchange Commission</p>

<p style='text-align:justify;text-justify:inter-ideograph;
text-indent:36.0pt' style="margin-top:0;margin-bottom:0">                        1
copy    - Philippine Stock Exchange</p>

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

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

<div align='center'><center><table style='font-family:arial,helvetica,sans-serif;font-size:9pt'  cellpadding=0 cellspacing=0 align=left>
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 <td  height=294></td>
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 <div style='padding:3.6pt 7.2pt 3.6pt 7.2pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Page 4 of 5</p>
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 &nbsp;</td>
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<br clear=all
style='page-break-before:always'>
Exhibit 1</p>

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

<br clear=ALL>

<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="margin-top:0;margin-bottom:0"><b>NEWS</b></p>
 <p style="margin-top:0;margin-bottom:0"><b>RELEASE</b></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"><b>First Pacific Company
 Limited</b></p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">(Incorporated in Bermuda with
 limited liability)</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>GROUP CORPORATE
 COMMUNICATIONS</b></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">24<sup>th</sup> Floor, Two Exchange Square, 8 Connaught Place, Hong Kong</p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">Tel. (852) 2842-4388  Email:
 info@firstpac.com.hk  Fax&nbsp;: (852) 2845-9243</p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">http://www.firstpacco.com</p>
 </td>
 </tr>
</table></center></div>

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

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

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0" style="margin-top:0;margin-bottom:0"><b>Wednesday, 28 February
2007 </b></h1>

<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>FIRST PACIFIC COMPLETED THE
ACQUISITION OF ADDITIONAL 6.4% INTEREST IN PLDT AFTER RECEIVING SHAREHOLDERS
APPROVAL </b></p>

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

<p style="margin-top:0;margin-bottom:0">First Pacific&#146;s shareholders today approved the Company&#146;s
acquisition of an additional interest in approximately 46 per cent in
Philippine Telecommunications Investment Corporation (&#147;PTIC&#148;) for a
consideration of Pesos 25.2 billion (equivalent to approximately 510.6
million). This additional investment in PTIC represents an attributable
interest of approximately 6.4 per cent issued common share capital of
Philippine Long Distance Telephone Company (&#147;PLDT&#148;), thereby raising First
Pacific&#146;s interest in PLDT to approximately 29 per cent. </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">The acquisition approved by
the shareholders today at a special general meeting, allowed First Pacific to
complete today the conditional sale and purchase agreement signed with the
Philippine Government on 14 February 2007. This finalizes a process that
commenced with a public auction initiated by the Philippine Government on 8
December 2006.  </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">The transaction has been
financed with a combination of approximately US$90.6 million of internal
resources and US$420 million of borrowings. </p>

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

<p style='margin-left:1.05pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-1.05pt' style="margin-top:0;margin-bottom:0">Manuel V. Pangilinan, First Pacific&#146;s Managing Director and Chief
Executive Officer, said: &#147;We are pleased to have this valuable opportunity to
further increase our investment in PLDT, which has been a strategic investment
of the Group since 1998.  PLDT has reported outstanding performances over last
few years and is a major earnings and dividend contributor to the Group.  We
are confident that the Group will continue to benefit from the strong
performance of PLDT.&#148; </p>

<p align=right style='margin-top:0pt;;
margin-bottom:0pt;margin-left:1.05pt;margin-bottom:.0001pt;text-align:right;
text-indent:-1.05pt' 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 style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0"><b>Corporate Profile </b></p>

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">First Pacific is a Hong
Kong-based investment and management company with operations located in Asia.  Its principal business interests relate to Telecommunications, Consumer Food
Products and Infrastructure.  Listed in Hong Kong (Stock code: 00142), First
Pacific&#146;s shares are also available in the United States through American
Depositary Receipts (ADR code: FPAFY).   </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">*     *     * </p>

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">For further information,
please contact: </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">Sara
Cheung                                   Tel:  (852) 2842 4336 </p>

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

<p style='text-align:justify;text-justify:inter-ideograph' style="margin-top:0;margin-bottom:0">Group Corporate
Communications      </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=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 5</p>
 </div>
 <p style="margin-top:0;margin-bottom:0">

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

First Pacific
Company Limited</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">&nbsp;</p>

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

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

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

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

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

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

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

<div align='center'><center><table style='font-family:arial,helvetica,sans-serif;font-size:9pt'  border=0 cellspacing=0 cellpadding=0  style='width:258.0pt;margin-left:167.4pt;border-collapse:collapse'>
 <tr>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">PHILIPPINE LONG DISTANCE</p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">TELEPHONE COMPANY</p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 <p align=center style='text-align:center' style="margin-top:0;margin-bottom:0">&nbsp;</p>
 <p style="margin-top:0;margin-bottom:0">&nbsp;</p>
 </td>
 </tr>
 <tr>
 <td  valign=top style=' padding:0pt 5.4pt 0pt 5.4pt'>
 <p style="margin-top:0;margin-bottom:0">By        :     <u>/s/ Ma. </u><u>Lourdes C. Rausa-Chan</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:
March 1, 2007</p>

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

</div>

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