In the Matter of Philequity PSE Index Fund, Inc.

May 17, 2005 CORPORATION FINANCE DEPARTMENT IN THE MATTER OF PHILEQUITY PSE INDEX FUND, INC. ORDER Upon consideration of the amended registration statement filed by PHILEQUITY PSE INDEX FUND, INC. the Commission in its meeting of May 12, 2005 resolved to approve the following amendments: Original Registration Statement Revisions Sales Load One-half percent (0.5%) of the value of Maximum of five percent investment made at any one time by an (5%) of the value of investor. investment made at any one time by the investor. Redemption One-half percent (0.5%) shall be A graduated rate of 2.0% of Charge deducted from the redemption proceeds proceeds if redeemed in the regardless of the retention period of the 1st year, 1.5% if redeemed investor. on the 2nd year and no redemption fee if redeemed after the 2nd year, from the time of purchase. Management 1% per annum of the average net asset 1.5% per annum of the Fee value computed on a daily basis average net asset value Computed on a daily basis. SO ORDERED. EDSA Greenhills, City of Mandaluyong, Metro Manila, Philippines. (SGD.) JUSTINA F. CALLANGAN Director Published in The Manila Times on May 18, 2005 .