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ACKNOWLEDGMENT RECEIPT

Received from Filinvest Land Inc. amounting to FOUR THOUSAND FIVE


HUNDRED PESOS (P 4,500.00) only, representing payment of 3,000 pcs. bermuda for
partial softscaping works @ Main Clubhouse.

03 September 2005, Davao City, Philippines.

Emilio Lauronal
Owner

Signed in the presence of:

________________________ ________________________

ACKNOWLEDGMENT RECEIPT

Received from Filinvest Land Inc. amounting to FOUR THOUSAND FIVE


HUNDRED PESOS (P 4,500.00) only, representing payment of 3,000 pcs. bermuda for
partial softscaping works @ Main Clubhouse.

03 September 2005, Davao City, Philippines.

_________________
Owner

Signed in the presence of:

________________________ ________________________

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