Loyola Life Plan, Inc.

August 22, 1980 Loyola Life Plan, Inc. Negros Navigation Bldg. Pasay Road, Makati Metro Manila Attention: Atty . Amado A . Villavert Gentlemen: This has reference to your letter dated August 18, 1980 on your request for approval for the phasing out and cessation of the offering to the public of the four (4) types of life plans which are and to be sold under the existing Certificate of Permit in favor of the subject corporation, considering that these plans, specifically the so-called "Forget Me Not" and "Daffodil", are no longer attractive to plan buyers, and the so-called "Chrysanthemum" and "Everlasting" for its non-profitability. This is without prejudice to those already sold, subject to the same terms and conditions under the General Provisions of Ad-Interim contract. cdlex Consequently, the phasing out of the said plans will entail revision of the sales projection of the company covering the period from September, 1980 to December, 1999. The Commission will not interpose any objection thereto as the same is not in contravention to existing rules and regulations of the Commission, specifically the Rules Governing Contracts promulgated on January 13, 1978 , provided, however, that plans already sold will be subjected to the same terms and conditions set forth in the General Provisions of Ad-Interim Contract approved by the Commission. Very truly yours, (SGD.) ROSARIO N. LOPEZ Director Corporate and Legal Department