In the Matter of Canyon Woods Grande International Vacation Club, Inc.

February 15, 2006 SEC-CFD ORDER NO. 018-06 IN THE MATTER OF CANYON WOODS GRANDE INTERNATIONAL VACATION CLUB, INC. REGISTRATION OF SECURITIES UNDER SECTIONS 8 AND 12 OF THE SECURITIES REGULATION CODE ORDER Upon consideration of the Registration Statement and other papers and documents attached thereto which were filed for and on behalf of CANYON WOODS INTERNATIONAL VACATION CLUB, INC., the Commission, in its meeting of February 7, 2006, resolved to render effective the said Registration Statement covering its One Thousand Five Hundred Sixty (1,560) Membership Certificates, consisting of the following: Membership Type Price Per Unit Full Share Price Per Unit Half-share Full Ownership Bi-Annual Ownership Membership Certificates Membership Certificates Platinum-Two Bedroom (8 units) High P775,000.00 192 P465,000.00 128 Medium 725,000.00 90 435,000.00 60 Low 655,000.00 30 393,000.00 20 Gold-One Bedroom (8 units) High 550,000.00 192 330,000.00 128 Medium 450,000.00 90 270,000.00 60 Low 400,000.00 30 240,000.00 20 Silver-Studio Type (8 units) High 425,000.00 192 255,000.00 128 Medium 375,000.00 90 225,000.00 60 Low 325,000.00 30 195,000.00 20 Total Number of Certificates 936 624 ==== ==== A Certificate of Permit to Sell Securities in favor of CANYON WOODS INTERNATIONAL VACATION CLUB, INC. authorizing the sale of the above securities is hereby issued with this Order. ICTaEH 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 company is hereby directed to furnish the Commission with a copy of the affidavit of publication of this Order. SO ORDERED. EDSA, Greenhills, City of Mandaluyong, Metro Manila, Philippines. February 15, 2006. (SGD.) JUSTINA F. CALLANGAN Director ATTACHMENT CERTIFICATE OF PERMIT TO OFFER SECURITIES FOR SALE