Ms. Evelyne M. Finel

December 23, 1987 Ms. Evelyne M. Finel International Contractors Supply Company 5 Dakota Drive, Suite 203 Lake Success, New York 11042 Madam : This refers to your letter dated December 10, 1987, requesting approval to register International Contractors Supply Company with the Securities and Exchange Commission. cdll In connection therewith, please be advised that under Section 18 of the Corporation Code of the Philippines, "No corporate name may be allowed by the Securities and Exchange Commission if the proposed name is identical or deceptively or confusingly similar to that of any existing corporation, or to any other name already protected by law or is patently deceptive, confusing or contrary to existing laws." In line with this provision, and in order to safeguard the public interest and avoid future conflict as to the use of corporate and partnership names, the following guidelines have been adopted by the Commission: "The name should not be similar to one already used by another corporation or partnership .If the proposed name contains a word similar to a word already used as part of the firm name or style of a registered company, the proposed name must contain two other words different from the name of the company already registered." (Paragraph c, SEC Guidelines in the Approval of Corporate and Partnership Names). A verification of the records of this Commission shows that the proposed corporate name would be identical or confusingly similar to the following existing corporations already registered with the Commission, namely: 1. International Contractors, Inc. 2. International Construction and Supply Co. 3. International Supply Center, Inc. Accordingly, the Commission regrets to deny your request for the registration of the proposed corporate name, International Contractors Supply Company. Please be advised accordingly. cdll Very truly yours, (SGD.) ROSARIO N. LOPEZ Associate Commissioner