Administrative Order No. 20

Section 6 is hereby modified to the extent that unless the President directs otherwise, the Executive Secretary shall be the ex-officio Chairman of the Board of the Company as well as its subsidiaries and affiliates.

Section 10 is likewise modified to the extent that unless the President directs otherwise, the Deputy Executive Secretary shall be the ex-officio legal counsel and a director of the Company as well as its subsidiaries and affiliates. This Administrative Order shall take effect immediately. DONE in the City of Manila, this 6th day of April, in the year of Our Lord, nineteen hundred and eighty-seven. (Sgd.) CORAZON C. AQUINO President of the Philippines By the President: (Sgd.) JOKER P. ARROYO Executive Secretary