DECLARATION OF TRUST

KNOW ALL MEN BY THESE PRESENTS:

WHEREAS, on _________, I subscribed to _____________ (___) share in the

authorized capital stock of ___________________, a corporation duly organized and
existing under Philippine laws, with principal office located at
________________________________;

WHEREAS, the said subscription was made by me to hold the above-stated

share in trust for _______________________;

NOW, THEREFORE, I, ___________________, do hereby declare that I am

holding the above-mentioned ____________ (___) share of stock in trust for the said
______________________ and I do hereby agree to transfer it any time to
______________________ or to any person or persons that he may so name, provided,
however, that the transferee shall defray all taxes and expenses that may be due or
incurred from the said transfer.

I hereby make, constitute and appoint said ______________________to be my

true and lawful attorney-in-fact, for me and in my name, to effect said transfer.

IN WITNESS WHEREOF, I hereunto set my hand on _______________ at

_________________.

______________________
Trustee

Signed in the presence of:

_______________________ _________________________

ACKNOWLEDGMENT

Republic of the Philippines)

_______________ )S.S.

BEFORE ME, a Notary Public for and in ________________, this

__________________,

Page 1 of 2
 Page 2 of 2

personally appeared ______________________ with ________________ I.D. No.

_____________, known to me to be the same person who executed the foregoing
Declaration of Trust and who acknowledged to me that the same is his free and
voluntary act and deed.

WITNESS MY HAND AND SEAL on the date and at the place first above-written.

Doc. No. _____;

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