<SEC-DOCUMENT>0001309014-11-000409.txt : 20110706
<SEC-HEADER>0001309014-11-000409.hdr.sgml : 20110706
<ACCEPTANCE-DATETIME>20110706060129
ACCESSION NUMBER:		0001309014-11-000409
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20110706
FILED AS OF DATE:		20110706
DATE AS OF CHANGE:		20110706

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:		11951601

	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>htm_5950.htm
<DESCRIPTION>LIVE FILING
<TEXT>
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Philippine Long Distance Telephone Company&nbsp;-&nbsp;Form&nbsp;6-K
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UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B>
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<CENTER>
<FONT SIZE="+2" FACE="Arial"><B>FORM 6-K</B></FONT><BR>

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<P>
<CENTER>
<FONT size="+1">
REPORT OF FOREIGN PRIVATE ISSUER<BR>PURSUANT TO RULE 13a-16 OR 15d-16<BR>UNDER THE SECURITIES EXCHANGE ACT OF 1934
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July 6, 2011
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	<FONT SIZE="+2"><B>Philippine Long Distance Telephone Company</B></FONT><BR>
	<FONT SIZE="-7">&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;</FONT>
    </TD>
  </TR>
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    <TD VALIGN="CENTER" ALIGN="CENTER" WIDTH="100%" COLSPAN="5">
	<FONT SIZE="-1">(Translation of registrant&#146;s name into English)</FONT>
    </TD>
  </TR>
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    <TD VALIGN="BOTTOM" ALIGN="CENTER" WIDTH="100%" COLSPAN="5">
	&nbsp;
    </TD>
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    <TD VALIGN="BOTTOM" ALIGN="CENTER" WIDTH="100%" COLSPAN="5">
      <FONT FACE="Courier" SIZE="+0">Ramon Cojuangco Building<br>Makati Avenue, Makati City<br>Philippines</FONT>
    </TD>
  </TR>
  <TR>
    <TD VALIGN="BOTTOM" ALIGN="CENTER" WIDTH="100%" COLSPAN="5">
        <FONT SIZE="-7">&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;</FONT><BR>
	    <FONT SIZE="-1">(Address of principal executive office)</FONT>
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	&nbsp;
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	Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:&nbsp;&nbsp;[<FONT FACE="Courier">x</FONT>]&nbsp;Form 20-F&nbsp;&nbsp;&nbsp;&nbsp;[<FONT FACE="Courier">&nbsp;</FONT>]&nbsp;Form 40-F
    </TD>
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        &nbsp;
    </TD>
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        Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):&nbsp;&nbsp;[<FONT FACE="Courier">&nbsp;</FONT>]
    </TD>
  </TR>

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        &nbsp;
    </TD>
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        Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):&nbsp;&nbsp;[<FONT FACE="Courier">&nbsp;</FONT>]
    </TD>
  </TR>

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    <TD VALIGN="BOTTOM" ALIGN="LEFT" COLSPAN="5" WIDTH="100%">
        &nbsp;
    </TD>
  </TR>

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    <TD VALIGN="BOTTOM" ALIGN="LEFT" COLSPAN="5" WIDTH="100%">
        Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:&nbsp;&nbsp;[<FONT FACE="Courier">&nbsp;</FONT>]&nbsp;Yes&nbsp;&nbsp;&nbsp;&nbsp;[<FONT FACE="Courier">x</FONT>]&nbsp;No
    </TD>
  </TR>

  <TR>
    <TD VALIGN="BOTTOM" ALIGN="LEFT" COLSPAN="5" WIDTH="100%">
        &nbsp;
    </TD>
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    <TD VALIGN="BOTTOM" ALIGN="LEFT" WIDTH="100%">
        If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):&nbsp;&nbsp;&nbsp;<FONT FACE="Courier"><U>&nbsp;n/a&nbsp;</U></FONT>
    </TD>
  </TR>
  <TR>
    <TD VALIGN="BOTTOM" ALIGN="LEFT" WIDTH="100%">
        &nbsp;
    </TD>
  </TR>
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<PRE>
Copy of the disclosure letters that we filed today with the Securities and
Exchange Commission and the Philippine Stock Exchange.
</PRE>
</FONT>
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<B>SIGNATURES</B>
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       &nbsp;
    </TD>
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    <TD VALIGN="BOTTOM" ALIGN="LEFT" WIDTH="100%">
       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.
    </TD>
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    <TD VALIGN="BOTTOM" ALIGN="LEFT" WIDTH="100%">
       &nbsp;
    </TD>
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       &nbsp;
    </TD>
    <TD VALIGN="BOTTOM" ALIGN="LEFT" WIDTH="4%%">
       &nbsp;
    </TD>
    <TD VALIGN="BOTTOM" ALIGN="LEFT" WIDTH="56%">
       Philippine Long Distance Telephone Company
    </TD>
  </TR>

  <TR>
    <TD VALIGN="BOTTOM" ALIGN="LEFT" WIDTH="40%">
       &nbsp;
    </TD>
    <TD VALIGN="BOTTOM" ALIGN="LEFT" WIDTH="4%%">
       &nbsp;
    </TD>
    <TD VALIGN="BOTTOM" ALIGN="LEFT" WIDTH="56%">
       &nbsp;
    </TD>
  </TR>

  <TR>
    <TD VALIGN="TOP" ALIGN="LEFT" WIDTH="40%">
       Date: 07/06/2011
    </TD>
    <TD VALIGN="TOP" ALIGN="LEFT" WIDTH="4%%">
       By:
    </TD>
    <TD VALIGN="TOP" ALIGN="LEFT" WIDTH="56%">
       Ma. Lourdes C. Rausa-Chan<BR><HR WIDTH="30%" NOSHADE>
    </TD>
  </TR>

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    <TD VALIGN="BOTTOM" ALIGN="LEFT" WIDTH="40%">
       &nbsp;
    </TD>
    <TD VALIGN="BOTTOM" ALIGN="LEFT" WIDTH="4%%">
       Name:&nbsp;
    </TD>
    <TD VALIGN="BOTTOM" ALIGN="LEFT" WIDTH="56%">
       Ma. Lourdes C. Rausa-Chan
    </TD>
  </TR>

  <TR>
    <TD VALIGN="BOTTOM" ALIGN="LEFT" WIDTH="40%">
       &nbsp;
    </TD>
    <TD VALIGN="BOTTOM" ALIGN="LEFT" WIDTH="4%%">
       Title:
    </TD>
    <TD VALIGN="BOTTOM" ALIGN="LEFT" WIDTH="56%">
       SVP & Corporate Secretary
    </TD>
  </TR>
  <TR>
    <TD VALIGN="BOTTOM" ALIGN="LEFT" WIDTH="40%">
       &nbsp;
    </TD>
    <TD VALIGN="BOTTOM" ALIGN="LEFT" WIDTH="4%%">
       &nbsp;
    </TD>
    <TD VALIGN="BOTTOM" ALIGN="LEFT" WIDTH="56%">
       &nbsp;
    </TD>
  </TR>
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EXHIBIT&nbsp;INDEX
</B></FONT>
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<BR>
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  <TR VALIGN="BOTTOM">
    <TD NOWRAP ALIGN="LEFT" WIDTH="8%">
      <FONT SIZE="-1"><B>Exhibit No.</B></FONT>
    </TD>
    <TD WIDTH="15%">
      &nbsp;
    </TD>
    <TD NOWRAP ALIGN="LEFT" WIDTH="77%">
      <FONT SIZE="-1"><B>Description</B></FONT>
    </TD>
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    <TD NOWRAP ALIGN="CENTER" WIDTH="8%">
      <HR SIZE="1" NOSHADE>
    </TD>
    <TD WIDTH="15%">
      &nbsp;
    </TD>
    <TD NOWRAP ALIGN="CENTER" WIDTH="77%">
      <HR ALIGN="LEFT" SIZE="1" WIDTH="88%" NOSHADE>
    </TD>
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      <FONT SIZE="-1">99<FONT>
    </TD>
    <TD WIDTH="15%">
       &nbsp;
    </TD>
    <TD ALIGN="LEFT" VALIGN="TOP" WIDTH="77%">
      <FONT SIZE="2">Copy of the disclosure letters that we filed today with the Securities and Exchange Commission and the Philippine Stock Exchange.</FONT>
    </TD>
  </TR>
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      &nbsp;
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       &nbsp;
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      &nbsp;
    </TD>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>exhibit1.htm
<DESCRIPTION>EX-99
<TEXT>
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Exhibit&nbsp;&nbsp;EX-99
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<BODY style="font-family: 'Times New Roman',Times,serif">


<P align="center" style="font-size: 10pt"><FONT style="font-size: 12pt"><B>NOTE REGARDING FORWARD-LOOKING STATEMENTS</B></FONT>



<P align="left" style="font-size: 12pt; text-indent: 4%">Some information in this report may contain forward-looking statements within the meaning of
Section&nbsp;27A of the U.S. Securities Act of 1933 and Section&nbsp;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 align="left" style="font-size: 12pt; text-indent: 4%">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&nbsp;31, 2010. 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 align="center" style="font-size: 10pt; display: none; text-indent: 4%">1
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<P align="center" style="font-size: 12pt"><B>EXHIBITS</B>


<DIV align="center">
<TABLE style="font-size: 12pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="84%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 12pt" valign="bottom">
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Exhibit Number</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Page</TD>
</TR>

<!-- End Table Head -->
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<TR valign="bottom" style="font-size: 12pt">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Copy of the disclosure letters that we filed today with<BR>
the Securities and Exchange Commission and the<BR>
Philippine Stock Exchange.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">5<BR>
<BR>
<BR></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 12pt">Exhibit&nbsp;1


<P align="left" style="font-size: 12pt">July&nbsp;6, 2011


<P align="left" style="font-size: 12pt">Philippine Stock Exchange
<BR>
3/F Philippine Stock Exchange Plaza
<BR>
Ayala Triangle, Ayala Avenue
<BR>
Makati City


<P align="left" style="margin-right:2%; font-size: 12pt">Attention: Ms.&nbsp;Janet A. Encarnacion


<P align="left" style="font-size: 12pt; text-indent: 7%"><U>Head, Disclosure Department</U>


<P align="left" style="font-size: 12pt">Gentlemen:


<P align="left" style="font-size: 12pt">We refer to our disclosure letter dated July&nbsp;5, 2011 which we submitted on the same date to your
good Office via ODisy (Reference No.&nbsp;WLIST&#151;2011000010501).


<P align="left" style="font-size: 12pt">Please be advised that there was an error in the fourth page, No.&nbsp;11, Item&nbsp;9 (Other Events),
Sub-Item&nbsp;3. The total number of Non-Voting Serial Preferred Stock should be 807,500,000 shares
(and not 808,750,000 shares).


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Enclosed is the corrected version of the fourth page.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 12pt">Very truly yours,


<P align="left" style="font-size: 12pt"><U>/s/ Ma. Lourdes C. Rausa-Chan</U><BR>
<B>MA. LOURDES C. RAUSA-CHAN</B><BR>
Corporate Secretary<BR>


<P align="left" style="font-size: 12pt"><FONT style="font-size: 10pt">Page 1 of 5
</FONT>

<P align="center" style="font-size: 10pt; display: none">2
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<P align="left" style="font-size: 10pt"><FONT style="font-size: 11pt">Exhibit&nbsp;1
</FONT>

<P align="left" style="font-size: 11pt">July&nbsp;6, 2011


<P align="left" style="font-size: 11pt">SECURITIES & EXCHANGE COMMISSION
<BR>
SEC Building, EDSA
<BR>
Mandaluyong City

<DIV align="center">
<TABLE style="font-size: 11pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="21%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="74%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">Attention:
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Director Justina F. Callangan<BR>
Corporation Finance Department</DIV></TD>
</TR>
<TR style="font-size: 1px">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 11pt">Gentlemen:


<P align="left" style="font-size: 11pt">We refer to our disclosure letter dated July&nbsp;5, 2011 which we submitted on the same date to your
good Office.


<P align="left" style="font-size: 11pt">Please be advised that there was an error in the fourth page, No.&nbsp;11, Item&nbsp;9 (Other Events),
Sub-item 3. The total number of Non-Voting Serial Preferred Stock should be 807,500,000 shares (and
not 808,750,000 shares).


<P align="left" style="font-size: 11pt">Enclosed is the corrected version of the fourth page.


<P align="left" style="font-size: 11pt">Very truly yours,


<P align="left" style="font-size: 11pt"><FONT style="font-size: 12pt"><U>/s/ Ma. Lourdes C. Rausa-Chan</U></FONT><BR>
<FONT style="font-size: 11pt"><B>MA. LOURDES C. RAUSA-CHAN</B><BR>
Corporate Secretary<BR>
</FONT>

<P align="left" style="font-size: 11pt"><FONT style="font-size: 10pt">Page 2 of 5
</FONT>

<P align="center" style="font-size: 10pt; display: none">3
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<P align="left" style="font-size: 10pt"><FONT style="font-size: 11pt">Exhibit&nbsp;1
</FONT>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">11.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Item&nbsp;9 (Other Events)</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 11pt">We disclose that at the meeting of the Board of Directors of Philippine Long Distance Telephone
Company (respectively, the &#147;Board&#148; and the &#147;Company&#148;) held on July&nbsp;5, 2011:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Board accepted the resignation of Mr.&nbsp;Tatsu Kono as a director of the Company, effective
immediately. The Board expressed their gratitude to Mr.&nbsp;Kono for his invaluable contribution
and wished him continued success in his new assignment in another investee company of NTT
DoCoMo, Inc.</TD>
</TR>

</TABLE>



<P align="left" style="margin-left:3%; font-size: 11pt">The resignation of Mr.&nbsp;Kono is not expected to have any significant impact on the Company&#146;s
current or future operations, financial position or results of operation.


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Board elected Mr.&nbsp;Setsuya Kimura as a director of the Company to hold office effective
immediately and for the unexpired term of his predecessor in office, Mr.&nbsp;Tatsu Kono.</TD>
</TR>

</TABLE>



<P align="left" style="margin-left:3%; font-size: 11pt">Mr.&nbsp;Setsuya Kimura was also appointed as member of the Governance and Nomination, Executive
Compensation and Technology Strategy Committees, and as Advisor of the Audit Committee,
effective immediately.



<P align="left" style="margin-left:3%; font-size: 11pt">Mr.&nbsp;Setsuya Kimura is the Executive Director of Strategic Investment & Alliance, Global
Division of NTT DoCoMo, Inc. Prior to that, he served as Director of Network Department of
NTT DoCoMo, Inc. He also served as Regional CEO, Asia Pacific of NTT Communications and
President & CEO of NTT Singapore Pte Ltd from 2007 to 2009, and as President & CEO of NTT
Communications (Thailand) Co. Ltd from 2003 to 2007. Prior to that, he occupied various
management positions in Nippon Telephone and Telegraph Company. Mr.&nbsp;Kimura obtained his
Bachelor&#146;s Degree in Civil Engineering from Hokkaido University.


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Board approved the amendments to the Seventh Article of the Articles of Incorporation of
the Company, sub-classifying the Company&#146;s Preferred Capital Stock into Voting Preferred Stock
consisting of 150,000,000 shares, each with a par value of P1.00 and Non-Voting Serial
Preferred Stock consisting of 807,500,000 shares, each with a par value of P10.00, subject to
the procurement of the requisite stockholders&#146; approval. A copy of the related press release
is attached hereto.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Board called for a special stockholders&#146; meeting on September&nbsp;20, 2011 (the &#147;Special
Stockholders Meeting&#148;) for the purpose of seeking approval of the amendments to the Articles
of Incorporation as aforementioned. The Board has set July&nbsp;22, 2011 as the record date for
the purpose of determining the stockholders entitled to receive notice of and to vote at the
Special Stockholders Meeting. The requisite Notice and Agenda and Information Statement will
be submitted to the Securities and Exchange Commission for clearance in due course and prior
to distribution to the Company&#146;s stockholders.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Board declared the following cash dividends out of the Company&#146;s audited unrestricted
retained earnings as at December&nbsp;31, 2010, which are sufficient to cover the total amount of
dividends declared:</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 11pt"><FONT style="font-size: 10pt">Page 3 of 5
</FONT>

<P align="left" style="font-size: 10pt"><FONT style="font-size: 11pt">Exhibit&nbsp;1
</FONT>

<P align="left" style="font-size: 11pt"><FONT style="font-size: 20pt"><B>PLDTpressrelease</B>
</FONT>

<P align="center" style="font-size: 20pt"><FONT style="font-size: 11pt"><B>PLDT BOARD APPROVES CREATION OF<BR>
VOTING PREFERRED SHARES</B></FONT>



<P align="left" style="font-size: 11pt">MANILA, PHILIPPINES: 5<sup>TH</sup> July&nbsp;2011 &#151; The Board of Directors of Philippine Long Distance
Telephone Company (&#147;PLDT&#148;) (PSE: TEL) (NYSE: PHI) approved today the creation of a new class of
redeemable preferred shares with full voting rights which may only be subscribed and owned by
Philippine nationals (the &#147;Voting Preferred Shares&#148;). When the Voting Preferred Shares are issued,
the resulting capital structure of PLDT will be aligned with, and identical to, the current capital
structure of many listed Philippine companies engaged in businesses such as the operation of public
utilities, mining, and land development.


<P align="left" style="font-size: 11pt">PLDT maintains that its current share structure fully complies with the Constitution. Although the
Supreme Court decision in <I>Gamboa vs. Teves, et al </I>is not final and still subject to
reconsideration, the Supreme Court&#146;s ruling, until reversed, could disrupt PLDT&#146;s operations and
transactions. To safeguard the interests of its consumers, shareholders, holders of its securities
and lenders, the Board of Directors of PLDT approved amendments to the Amended Articles of
Incorporation of PLDT (the &#147;Articles&#148;) that will authorize the Board of Directors of PLDT to issue
the Voting Preferred Shares as and when the Board determines such issuance to be necessary to
protect the interests of PLDT and its stakeholders. The issuance of the Voting Preferred Shares
will result in an expanded voting capital in PLDT consisting of Common Shares and Voting Preferred
Shares.


<P align="left" style="font-size: 11pt">The foregoing amendments to the Articles will be subject to approval by the stockholders of PLDT
owning two-thirds of the total outstanding shares. After the approval of the amendments by the PLDT
shareholders, up to 150,000,000 Voting Preferred Shares could be initially issued by the Board of
Directors of PLDT to the Beneficial Trust Fund of PLDT and other Philippine nationals. When issued,
the 150,000,000 Voting Preferred Shares will be about 45% of the expanded voting shares of PLDT and
the total foreign equity in PLDT&#146;s expanded voting shares will be reduced from the current 64% to
about 36%.


<P align="left" style="font-size: 11pt">PLDT&#146;s Chairman, Manuel V. Pangilinan, said, &#147;<I>PLDT believes that its current share structure is in
full compliance with the Constitution, all applicable laws and regulations and various opinions of
the Securities and Exchange Commission and it is prepared to exercise all its legal options in
relation to the Supreme Court&#146;s ruling in the Gamboa case. In the meantime, PLDT wants to assure
all its stakeholders, particularly its customers, that it will be business as usual for PLDT. We
assure our shareholders and the general public that they will continue to reap the benefits from
PLDT&#146;s continued services.&#148;</I>


<P align="center" style="font-size: 11pt">###



<P align="left" style="font-size: 11pt"><FONT style="font-size: 10pt">Page 4 of 5
</FONT>

<P align="center" style="font-size: 10pt; display: none">4
<!-- PAGEBREAK -->

<P align="left" style="font-size: 10pt"><FONT style="font-size: 11pt">Exhibit&nbsp;1
</FONT>

<P align="left" style="font-size: 11pt"><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 align="left" style="font-size: 11pt">For further information, please contact:

<DIV align="center">
<TABLE style="font-size: 11pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="39%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="23%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 11pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Anabelle L. Chua<BR>
Tel No: 816-8213<BR>
Fax No: 844-9099
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Melissa V. Vergel de Dios<BR>
Tel No: 816-8024<BR>
Fax No: 810-7138
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Ramon R. Isberto<BR>
Tel No: 511-3101<BR>
Fax No: 893-5174</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 11pt">About PLDT


<P align="left" style="font-size: 11pt">PLDT is the leading telecommunications provider in the Philippines. Through its three principal
business groups &#150; fixed line, wireless, and information and communications technology &#150; PLDT offers
a wide range of telecommunications services across the Philippines&#146; most extensive fiber optic
backbone and fixed line, and cellular network.


<P align="left" style="font-size: 11pt">PLDT is listed on the Philippine Stock Exchange (PSE:TEL) and its American Depositary Shares are
listed on the New York Stock Exchange (NYSE:PHI). PLDT has one of the largest market
capitalizations among Philippine listed companies.


<P align="left" style="font-size: 11pt">Further information can be obtained by visiting the web at www.pldt.com.

<DIV align="center">
<TABLE style="font-size: 11pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="100%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 11pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT style="font-size: 10pt">Page 5 of 5</FONT></DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt; display: none">5
<!-- PAGEBREAK -->


<P align="center" style="font-size: 10pt"><FONT style="font-size: 12.5pt"> <B>SIGNATURES</B></FONT>



<P align="left" style="font-size: 12.5pt; text-indent: 4%"><FONT style="font-size: 12pt">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.
</FONT>
<DIV align="center">
<TABLE style="font-size: 12pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="100%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 12pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">PHILIPPINE LONG DISTANCE<BR>
TELEPHONE COMPANY</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 12pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By : /s/ Ma. Lourdes C. Rausa-Chan</DIV></TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 12pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Name : Ma. Lourdes C. Rausa-Chan<BR>
Title : Senior Vice President, Corporate<BR>
Affairs and Legal Services Head<BR>
and Corporate Secretary</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 12pt">Date: July&nbsp;6, 2011



<P align="center" style="font-size: 10pt; display: none">6




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