PROMISSORY NOTE

P_____________

                                                                                                

FOR VALUE RECEIVED, I promise to pay without need of demand to the

order of _______________ (Payee) at his office at _____________, the principal
amount of PESOS: FIFTY THOUSAND PESOS (Php 50,000.00), payable in two
(2) years on or before _____________. In addition to the foregoing, I promise to
pay monthly interest at the rate of _____________ (_______%) percent, without
need of demand, for 24 months until this note is fully paid.

________________, at _____________, Philippines.

 ________________________

MAKER