RECEIPT AND RELEASE

For and in consideration of the sum of ______________________,

Philippine Currency (P__________), receipt of which I acknowledge, I,
_____________________________, of legal age, (single/married), and a
resident of ________________________________________________________,
hereby release and forever discharge ___________________, duly organized
under the laws of the Philippines, with office address at
________________________________, and its successors and assigns, from
any claims, demands, debts, dues, liens, cause or causes of action at
law or in equity now held, or owned or possessed by me, or that I may
claim to hold on account of, related to, or concerning my voluntary
resignation from said party as _________________ effective
________________.

I understand and agree that this is a full and final release and
discharge of ______________________________, and its successors and
assigns, from any and all matters related to the above-mentioned
voluntary resignation and I agree that this release may be pleaded as an
absolute and final bar to any proceeding, whether administrative, civil,
criminal, or of any other nature, that may hereafter be pending or
prosecuted by me in relation to the above-mentioned voluntary
resignation.

I hereby warrant that I am executing this receipt and release with

full understanding of its significance and implications and I hold the
company herein released free and harmless from any liability arising
from, connected with, or related to the payment herein made.

Finally, I acknowledge that the sum of money I have received is

not an admission or a measure of any liability of the parties released, as
in fact I recognize, admit and accept that I am voluntary resigning from
my employment with the said corporation, and that the law does not
require that I receive a separation pay although the herein payment has
been made only for the convenience of the parties released.
 Executed in Makati City, this ___ day of ____ 2004.

______________________________

IN THE PRESENCE OF:

____________________________ _______________________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

: S.S.
CITY OF MAKATI )

BEFORE ME, a Notary Public in and for __________ City,

personally appeared _____________________________ with CTC
________________________ issued by ___________________________ and valid
until _________________, known to me and to me known to be the same
person who executed the foregoing instrument and acknowledged to me
to have executed the same as (his/her) free and voluntary act and deed
for the uses and purposes therein set forth.

IN WITNESS WHEREOF, I have hereunto set my hand and affixed

my notarial seal this ____ day of _________ 2004 at __________ City.

Doc. No. ______;

Page No. ______;
Book No. ______;
Series of 2001.