ARTICLES OF PARTNERSHIP

KNOW ALL MEN BY THESE PRESENTS:

That we the undersigned TERESA BLANCA E. REYES, Filipino,

married, of legal age and a resident of Don Francisco Village, Jaro, Iloilo City
and NOEL D. LEE, Filipino, of legal age, married and a resident of 14-17
Virgo Street., Capitol Hills Subdivision, Bacolod City, Philippines, have this
day voluntarily associated ourselves together for the purpose of continuing
our partnership and extending its life, effective this date, under the conditions
and terms hereinafter set forth, and subject to the provisions of existing laws.

AND WE HEREBY CERTIFY:

I.

That the names, surnames and residences of the partners of the said
partnership are as follows:

Names Residences

Teresa Blanca E. Reyes Don Francisco Village, Jaro, Iloilo

City

Noel D. Lee 14-17 Virgo St., Capitol Heights

Subdivision, Bacolod City

II.
That the name of said partnership shall be R & L Partnership and shall
operate and transact business under the said firm name.

III.

That the principal office of said partnership shall be located at the

PLDT Compound, La Paz, Iloilo City, Philippines, which office may be
changed if necessary.

IV.

That the partnership shall carry over its existing capital from its
previous partnership.

V.

That the purpose for which this partnership is formed is to operate the
Iloilo Branch of the Fast Line Sales and Services, a holder of PLDT’s Contract
for referral services.
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VI.

That the term for which this partnership is to exist is Five (5) years
counted from the date hereof renewable upon the mutual agreement of the
parties.

VII.

That the partnership shall be under the management of Teresa Blanca

E. Reyes, with the title General Manager, and as such manager, she shall
have charge of the management of the affairs of said partnership; and she
shall have the power to use the firm name and in otherwise performing such
acts are necessary in the management and operations of the firm.

VII.

That, subject to the provisions on compensation for the management of

the business by Teresa Blanca E. Reyes consisting of a basic fee and
commission as hereinafter provided, profits, losses or liabilities as the case
may be shall be divided and distributed as follows:

55% - Noel D. Lee

45% - Teresa Blanca E. Reyes

IX.

Noel D. Lee as proprietor of the Fast Line Services and a Partner in

this contract hereby assigns in favor of this partnership the right and authority
to operate the PLDT Referral Services of said Fast Line Services in Iloilo City,
including the use and operation of the name Fast Line Services.

X.

This Partnership Agreement supercedes and shall prevail over all other
agreements between the parties relative to the business herein.

XI.

As the General Manager, Teresa Blanca E. Reyes shall be entitled to a

fee of P10,000.00 per month plus 40% of the net income of the monthly
operations. The 40% commission shall be based and computed on a monthly
basis with January 1 as the starting point for counting the fiscal year.

IN WITNESS WHEREOF, we hereunto affixed our signatures this

__________at Iloilo City, Philippines.

NOEL D. LEE TERESA BLANCA E. REYES

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With Marital Consent:

JOSE LUIS G. REYES MELINA M. LEE

SIGNED IN THE PRESENCE OF:

_______________________ __________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

CITY OF ILOILO ) S.S.
x-------------------------x

BEFORE ME, a Notary Public for and in the City and Province of
Iloilo, Philippines, this _______________ personally appeared

Name I.D. No. Issued on/At

Theresa Blanca E. Reyes Driver’s License No. F03-8845128 with expiry

date on January 23, 2012

Noel D. Lee Driver’s License No. F01-89- 054766 with

expiry date on January 26, 2013

both issued on January 4, 2011 at Iloilo City, both known to me and to me

known to be the same persons who executed the foregoing instrument and
acknowledged to me that the same is their free and voluntary act and deed.

This instrument consisting of two (2) pages including this page where
the acknowledgment is written refers to a Deed of Adjudication with Sale
signed by the parties and their instrumental witnesses at the bottom of the
document and on the left margin of the other pages hereof.

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