In the Matter of the NCM Mutual Fund of the Phils., Inc.

July 13, 2010 SEC-CFD ORDER NO. 181-10 IN THE MATTER OF THE NCM MUTUAL FUND OF THE PHILS., INC. REGISTRATION OF SECURITIES UNDER THE SECURITIES REGULATION CODE ORDER Upon consideration of the Registration Statement and other papers and documents attached thereto filed on behalf of NCM MUTUAL FUND OF THE PHILS., INC. the Commission, in its meeting of July 8, 2010, resolved to render the same effective, for the registration of Four Hundred Million (400,000,000) common shares with a par value of One Centavo (P0.01); and to approve its application for a license to operate as an open-end investment company, subject to compliance with the reporting and other requirements of the Securities Regulation Code, Investment Company Act and their Implementing Rules and Regulations, Revised Code of Corporate Governance, existing SEC circulars on investments in foreign securities and to further orders of the Securities and Exchange Commission. A Certificate of Permit to Offer Securities for Sale authorizing the sale of said securities is issued with this Order. Let a copy of this ORDER be published at the expense of the corporation once a week for two (2) consecutive weeks in two (2) newspapers of general circulation in the Philippines within ten (10) days from the date of this ORDER. The subject company is hereby directed to furnish the Commission with a copy of the affidavit of publication of this ORDER. SO ORDERED. July 13, 2010, EDSA, Greenhills, City of Mandaluyong, Metro Manila, Philippines. (SGD.) JUSTINA F. CALLANGAN Director Published in The Philippine Star on August 10 & 17, 2010.