GUIDELINES FOR SUGAR SHIPMENT TO THE UNITED STATES

WHEREAS, to insure prompt and full shipment of sugar to fill the
balance of the U.S. quota in the quantity of 46,113 M.T., it is
necessary to set forth and Implement appropriate guidelines;

NOW, THEREFORE, by virtue of the powers vested in this Office, it is hereby ordered that:

SECTION 1.       The balance of 14, 992 M.T. (after
shipment on M/V Federal Bergen) and the additional quota d 31,121 M.T.
effective April 27, 1990 shall be filled by exporters in accordance with
the following priorities:

First Priority (holders of regular “A” quedans):

1.    Producers-exporters with no previous shipments to the U.S. during the crop year 1989-1990.

2.    Exporters with no previous advance-swapped shipments.

Second Priority (advance-swap):

1.    Producers-exporters still milling after May 31 ,1990, and
with SRA-approved program for replacement from their 1990-1991 “A”
(Ex.: VICMICO, San Carlos, BUSCO, Don Pedro, Ormoc, HIDECO, DASUCECO,
CASUCO).

2.    Exporters on a pro-rata basis on performance/shipments
vs. 1989 U.S. quota and with program for replacement with 1989-1990 and
1990-1991 “A” sugar approved by this Office.

SECTION 2.       Any exporter who has not fully liquidated
his previous advanced-swap exports shall) not be allowed to participate
in the filling of the U.S. quota until such time as he has compelled
with his obligation.

SECTION 3.       All applicants as defined under Section 3
of SRA Sugar Order No. 10, dated March 14, 1988 submitted to SRA as of
May 15, 1990 shall be considered under Section 1 hereof.

SECTION 4.       The quantity of 45,783 M.T. shall be
shipped on two (2) vessels, nominations for which shall be subject to
the approval of this Office.

SECTION 5.       All provisions of Sugar Orders, Circular
Letters, rules and regulations inconsistent with or contrary to this
Order are hereby modified, amended or revoked accordingly.

Adopted: 8 May 1990

(SGD.) ARSENIO B. YULO, JR.
Chairman/Administrator