In re Lakewood Golf & Country Club, Inc.

September 23, 2008 SEC-CFD ORDER NO. 105-08 IN THE MATTER OF LAKEWOOD GOLF & COUNTRY CLUB, INC. ORDER OF REVOCATION The records on file with this Commission show the failure of Lakewood Golf & Country Club, Inc. to: 1. Submit its duly accomplished Amended Registration Statement together with the required exhibits, in violation of the directive of the Commission set forth in its Suspension Order dated 07 February 2008; 2. Republish its offer to refund its shareholders' investments pursuant to SRC Rule 14, in relation to the revised timetable or target dates of completion of the golf course, clubhouse and country club (the "Project"); and 3. Send out written notices to its individual shareholders relative to its offer to refund, in violation of the directive of the Commission in its meeting of 31 January 2008. Pursuant to the resolution of the Commission in its meeting of 28 August 2008, the company's Registration of Securities and Certificate of Permit to Sell Securities is hereby REVOKED. Accordingly, the company is prohibited from selling/offering for sale its securities to the public. CAacTH The company is directed to return any and all payments received from the purchasers of its Timeshare Certificates within ten (10) days from the publication of the Notice of Revocation by the Commission, in accordance with SRC Rule 13.1. This revocation order shall not exempt the company from complying with the applicable regulations and reportorial requirements of the Securities Regulation Code and its Implementing Rules and Regulations, pursuant to SRC Rule 13 (5). SO ORDERED. Signed this 23rd day of September 2008 at Mandaluyong City, Philippines. For the Commission: (SGD.) JUSTINA F. CALLANGAN Director