In the Matter of Aboitiz Power Corporation

July 4, 2007 CORPORATION FINANCE DEPARTMENT IN THE MATTER OF ABOITIZ POWER CORPORATION REGISTRATION OF SECURITIES ORDER Upon consideration of the Registration Statement and other papers and documents attached thereto which were filed on behalf of Aboitiz Power Corporation , the Commission resolved to render effective the same for the registration of the following shares pursuant to Section 12 of the Securities Regulation Code and its Implementing Rules and Regulations: Primary Shares 1,739,130,435 Over-allotment 260,869,565 2,000,000,000 =========== Other Price per Share P5.80 Out of the said shares, 1,217,391,305 and 521,739,130 shares are allocated for its International and Domestic Offers, respectively. SDHITE Let a Certificate of Permit to Offer Securities for Sale be issued in favor of ABOITIZ POWER CORPORATION authorizing the sale of the aforementioned securities. Let 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. ECSaAc IT IS RESOLVED. Mandaluyong City, Philippines. July 04, 2007. (SGD.) JUSTINA F. CALLANGAN Director Published in The Manila Times on July 7, 2007 .