Exportation of Gold and Nickel Babbitt

CIRCULAR LETTER Series of 1999

TO : All Authorized Agent Banks and All Concerned

S U B J E C T : Exportation of Gold and Nickel Babbitt

Please be advised that under CB Circular No. 1389 dated 13 April 1999, as amended, the following commodities may be exported without need for prior clearance from BSP:

1. Gold in any form including gold bars and dore metal, except panned gold or gold from small-scale mining which is required to be sold to BSP ; and

2. Nickel Babbitt.

Please inform your exporter-clients of this Circular-Letter and that there is no further need to get specific letter confirmation of this from the BSP.

FOR THE MONETARY BOARD:

EDGARDO P. ZIALCITA Deputy Governor