DEED OF ABSOLUTE SALE

KNOW ALL MEN BY THESE PRESENTS:

I, AURORA L. VELASQUEZ, of legal age, widow, Filipino citizen and a resident of

102 D. Silang St., Batangas City, for and in consideration of PESOS: TWO MILLION
TWO HUNDRED SEVEN THOUSAND EIGHT HUNDRED ONLY (P2,207,800.00), in
hand paid to me and receipt is acknowledged from ALV REALTY HOLDINGS CORP., a
domestic corporation organized and existing under the Philippine laws, at its principal
office at No. 34 Rizal Avenue, Batangas City, that two (2) parcels of land, both situated
in Brgy. Sta. Rita Karsada, Batangas City, and more particularly described as follows:

1) TAX DECLARATION NO. 092­09006

Boundaries:
North : NE ALN 057 South : ALN 015
East : ALN 058 West : ALN 015, 016

Property Index No. : 132-03-092-63-056

Area : 5,444 square meters

2) TAX DECLARATION NO. 092­09009

Boundaries:
North : Prov. Road, 019, 034, 042, Callejon
East : ALN 034, 042, 063,020
South : ALN 055
West : ALN 057,058

Property Index No. : 132-03-092-63-059

Area : 38,712 square meters

That said properties are not subject to any and all kinds of liens or encumbrances;

That the provisions of Arts. 1621 and 1623 of the New Civil Code of the Philippines
are duly and fully complied with.

IN WITNESS WHEREOF, I have hereunto set my hand on this ____th day of

______________ 2003, in Batangas City, Philippines.

AURORA L. VELASQUEZ
Vendor

Signed in the presence of:

____________________ ____________________

R e p u b l i c o f t h e P hi l i p p i n e s )
City of Batangas )Ss.
ACKNOWLEDGMENT

BEFORE ME, A Notary Public for the City of Batangas this ____th day of
________________, 2003 personally appeared AURORA L. VELASQUEZ with Comm.
Tax Cert. No. 11296965 issued on January 3, 2003 at Batangas City, known to me and to
me known to be the same person who executed the foregoing instrument and
acknowledged to me that the same is her free and voluntarily act and deed.

WITNESS MY HAND AND SEAL on the date and at the place above written.
Doc. No. ____;
Page No. ____;
Book No. ____;
Series of 2003.
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