EXECUTIVE ORDER NO. 497, January 24, 2006

DELEGATING TO THE SECRETARY OF TRANSPORTATION AND COMMUNICATIONS THE APPROVAL OF CONTRACTS ENTERED INTO BY THE TOLL REGULATORY BOARD

WHEREAS, the Toll Operation Decree of 31 st March 1977 grants to the Toll Regulatory Board the power, subject to the approval of the President of the Philippines, to enter into contracts in behalf of the Republic of the Philippines with persons, natural or juridical, for the construction, operation and maintenance of toll facilities such as but not limited to national highways, roads, bridges, and public thoroughfares;

NOW THEREFORE I, GLORIA MACAPAGAL-ARROYO, President of the Philippines do hereby delegate to the Secretary of Transportation and Communications the authority to approved contracts entered into by the Toll Regulatory Board.

DONE in the City of Manila, this 24th day of January, in the year of Our Lord, two thousand and six.

(SGD.) GLORIA MACAPAGAL-ARROYO

By the President:

(SGD.) EDUARDO R. ERMITA

Executive Secretary