To authorize Ms. Simeona G. LLanes of the Office of the Managing Director, SPC-BSP, to sign checks in accordance with her approved capacity

MEMORANDUM Series of 2001

Please be advised that the following official (facsimile signature appearing opposite her name) of the Office of the Managing Director, Security Plant Complex, Bangko Sentral ng Pilipinas, is authorized to sign checks in accordance with her approved capacity:

NAME AND TITLE OF OFFICIAL                      FACSIMILE SIGNATURE

SIMEONA G. LLANES Acting Deputy Director

FOR THE MONETARY BOARD

ARMANDO L. SURATOS Deputy Governor