DBPPOL Board Resolution No.

1
Series of 2008

APPROVING THE CREATION OF DBPPOL FOUNDATION AND

THE FORMATION OF THE JAIME LABAY
MEMORIAL SCHOLARSHIP FUND (JLMSF)

WHEREAS, during the DBPPOL Special Meeting dated January 14,

2008, 12:00 P.M., attending DBPPOL Officers, Board members and attendant
Third Parties have discussed on the creation of the DBPPOL FOUNDATION
and the formation of the Jaime Labay Memorial Scholarship Fund (JLMSF);

WHEREAS, it was agreed upon that the DBPPOL FOUNDATION be

formed to run and manage specially selected, highly meritorious, social
outreach programs which have bearing to the measure of the
Salesian/Bosconian existential efficacy;

WHEREAS, on the other hand, the Jaime Labay Memorial Scholarship

Fund (JLMSF) will be formed as the first project of the DBPPOL
FOUNDATION;

WHEREAS, with the foregoing considerations, the DBPPOL Board

Members, is hereby adopting the matters contained in the Minutes of the
Special Meeting of January 14, 2008 to form part of this Board Resolution and
is hereby reproduced in toto, to wit:

“DBPPOL

Minutes of the Special Meeting

January 14, 2008

Provincial House, Maryville Subdivision,

Talamban, Cebu City

Attendees
Joubert Roma
Corsino Bacatan
Jack Biantan
Alec Bucao
Fr. George Militante
Fr. Jun Paradiang

Purpose:

The special meeting was called to address the long-standing plan to assist the
children of the late Jaime "James" Labay (DBPPOL member of Batch __) in
accordance with the request of the deceased shortly before his death due to
cancer.

Matters Taken Up and Agreed Upon:

The committee found merit to assist the children of the late James Labay due
to the latter's length of service to the cause of Don Bosco (he worked as
educator and volunteer to various Don Bosco schools in Cebu from the time
he graduated in DBMS in ___ until his death in 200_ ).

The late James Labay never had the chance to look for greener pastures that
would have alleviated his family's financial status due to his dedication to Don
Bosco, consequently leaving nothing of financial value to his children and for
the latters' education up until his death.

The following were agreed upon, therefore, carried out after deliberation by
the attending DBPPOL Officers, Board members and attendant Third Parties
above, to wit:

1. That a DBPPOL FOUNDATION be formed to run and manage specially

selected, highly meritorious, social outreach programs which have
bearing to the measure of the Salesian/Bosconian existential efficacy.

2. That a Jaime Labay Memorial Scholarship Fund (JLMSF) will be formed

which will be the first project of the DBPPOL FOUNDATION. The
Foundation has committed to operate the JLMSF for a period of 5
years, renewable upon review by the Board on its 5th year.

3. That the JLMSF will be funded by monetary pledges coming from the
DBPPOL members to initially subsidize the elementary education of the
late James Labay's 3 children.

4. That the subsidy shall mean that portion of the children's school tuition
fees labeled as such in the school's billing or statement of account. It
shall not cover for miscellaneous expenses such as uniforms, books,
allowances and other expenses not classified as tuition fees.

5. That the school tuition fees should not exceed P15,000 per student per
year.

6. That the DBPPOL Foundation, due to the high capital requirements of

registering it with Securities and Exchange Commission, will hence be
operated by the signatories of Provincial Superior of the Salesian
Society of St. John Bosco, Cebu Province, Inc., namely: Rev. Fr. Julius
Sanchez, Provincial Superior, and Rev. Fr. George Militante, Economer.
All disbursements will be made effective through an authorization letter
from any two of the following DBPPOL Board: Joubert Roma, Alec C.
Bucao, Corsino Bacatan, Jack Biantan, Dr. Alex Junia and/or Nietto
Sanchez.

7. That effective January 31, 2008, the Feast Day of St. John Bosco, the
DBPPOL FOUNDATION will start accepting monetary contributions. All
Philippine Peso deposits should be made to the account of the
Provincial Superior of the Salesian Society of St. John Bosco, Cebu
Province, Inc. (PSSSSJB) with Bank of the Philippine Islands checking
account no.1375-0490-11 (BPI MEPZ 2 Branch).

8. All foreign denominated currencies, most especially U.S. Dollar

deposits should be made to the account of the Provincial Superior of
the Salesian Society of St. John Bosco, Cebu Province, Inc.
(PSSSSJB) with Citibank-Cebu US$ checking account no. 834-20-30-
859.
Attested by:

(Sgd.) Alec Bucao

Designated Secretary
for the Special Meeting

Noted by:

(Sgd.) Joubert Roma

DBPPOL President

Copy Furnished:
Corsino Bacatan

Jack Biantan

Fr. George Militante

Fr. Jun Paradiang”;

WHEREAS, the DBPPOL FOUNDATION, through the JLMSF, will also

open its doors to other worthy applicants for scholarship, two (2) applicants will
initially be considered. The applicants, however, must be students from Don
Bosco Boys Home, Lilo-an, Cebu, Philippines, and should be recommended
by their Salesian superiors. The conditions applicable to the children of the
late Jaime Labay will also be applied to the applicants from Don Bosco Boys
Home, Lilo-an, Cebu, without prejudice to additional requirements needed to
qualify as a scholar;

NOW THEREFORE, BE IT RESOLVED AS IT IS HEREBY

RESOLVED, that the Board approves the Creation of DBPPOL Foundation
and the formation of the Jaime Labay Memorial Scholarship Fund (JLMSF).

Approved this _____ day of January, 2008, in Cebu City, Philippines.

(Joub, please provide for the names and designation of those who will attend.)