In the Matter of the Philippine National Bank

July 19, 2007 CORPORATION FINANCE DEPARTMENT IN THE MATTER OF THE PHILIPPINE NATIONAL BANK, issuer REGISTRATION OF SECURITIES ORDER Upon consideration of the Registration Statement and other papers and documents attached thereto filed for and on behalf of PHILIPPINE NATIONAL BANK, the Commission, in its meeting of June 20, 2007, resolved to render effective the Registration Statement of said company for the registration of the following shares, pursuant to Section 12 of the Securities Regulation Code and its Implementing Rules and Regulations: Primary Offer 89,000,000 Secondary Offer 71,811,091 Total 160,811,091 ========= Let a Certificate of Permit to Sell Securities be issued in favor of PHILIPPINE NATIONAL BANK, authorizing the sale of the above securities. Let a copy of this ORDER be published at the expense of the corporation once in a newspaper of general circulation in the Philippines within ten (10) days from date hereof. The Corporation is hereby directed to furnish the Commission with a copy of the affidavit of publication of this Order. SO ORDERED. EDSA, Mandaluyong City, Philippines. July 19, 2007. (SGD.) JUSTINA F. CALLANGAN Director Published in The Manila Times on July 26, 2007 .