DA-QUEDANCOR AGRIKULTURANG MAKAMASA FOR HYBRID CORN PRODUCTION GUARANTEE PROGRAM

Circular No. 105 Series of 2000, on the DA-QUEDANCOR Agrikulturang
Makamasa Hybrid Corn Production Guarantee program is hereby amended with
respect to the following items:

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4.         DEFINITION OF TERMS

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4.7           COAST — Coast-based Agribusiness Systems
Technology Demonstration Projects, which aims to generate private sector
intervention thru joint venture arrangements with farmer coops with all
the necessary production enhancement interventions.

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6.         STATEMENT OF POLICES

6.1           Purpose of Loan

To finance the purchase of hybrid corn seed by farmers/sole proprietor/farmer’s federation/cooperative/association.

For projects under the COAST Program, the loan shall cover the
purchase of all production inputs which shall include hybrid seed,
fertilizer, pesticides and lime/soil amelioration.

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6.3       Loanable Amount

The loanable amount shall be maximum of P600,000 per cluster.

FOR COAST Projects, the loanable amount shall be maximum of seven thousand per hectare (7,000/ha).

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7.         MECHANICS OF IMPLEMENTATION

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7.6           Loan Release and Documentation

7.6.1        The loan proceeds shall be in the form of seeds to be
supplied by the input supplier corresponding to the approved farm plan
and budget.

For COAST projects, the loan proceeds shall be in the form of seed, fertilizer, pesticides and lime.

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EFFECTIVITY

This amendment Circular shall take effect on July 14, 2000

(SGD.) GALO B. GARCHITORENA
President & CEO