PROCLAMATION NO. 508, December 02, 2003

CREATING AND DESIGNATING A PARCEL OF LAND SITUATED AT BARANGAY LARAP, MUNICIPALITY OF JOSE PANGANIBAN, PROVINCE OF CAMARINES NORTE, ISLAND OF LUZON, AS SPECIAL ECONOMIC ZONE PURSUANT TO REPUBLIC ACT NO. 7916 AS AMENDED BY REPUBLIC ACT. NO 8748.

Pursuant to the Powers vested in me under Republic Act No. 7916, otherwise known as the Special Economic Zone Act of 1995, as amended, and upon the recommendation of the Board of Directors of the Philippine Economic Zone Authority, I GLORIA MACAPAGAL-ARROYO, President of the Republic of the Philippines, do hereby create and designate as Special Economic Zone, pursuant to the provisions of Republic Act No. 7916, as amended, its Implementing Rules and Regulations, and Resolution No. 99-168 dated 30 June 1999 of the Board of Directors of the Philippine Economic Zone Authority, a parcel of land situated at Barangay Larap, Municipality of Jose Panganiban, Province of Camarines Norte, with an area of THREE HUNDRED THOUSAND (300,000) SQUARE METERS, more or less as defined by the following technical descriptions:

Lot 7042

Cad 1071-D Jose Panganiban Cadastre on Mr.05-000005

A PARCEL OF LAND (Lot No. 7042 Cad. 1071-D, Jose Panganiban Casdastre on Plan Mr.05-000005), situated in the Barangay Larap, Municipality of Jose Panganiban, Province of Camarines Norte, Island of Luzon, Bounded on the NE., along lines 19-1-2-3-4-5-6-7-8-9, by Lot 3671 (PPS-39); on the SE., along lines 9-10-11-12, by (PPS-40), Lot 4672, both of Manila Bankers Incorporated, Cad-1017-D, Jose Panganiban Cadastre; on the SW., along line 12-13 by Public Land; on the W., along lines 13-14-15-16-17, by Existing Runway (50.00 m. wide); and on the NE., along line 17-18-19, by Public Land.

Beginning at a point marked "1" on the plan being N. 78 deg. 50’W., 4, 737.90 m. from BLLM No. 1 Cad. 1071-D, Jose Panganiban Cadastre,

thence	S. 2 deg.	57’ E.,	56.97 m.	to point 2;
thence	S. 12 deg.	04’ W.,	63.45 m.	to point 3;
thence	N. 56 deg.	05’ W.,	194.57 m.	to point 4;
thence	S. 16 deg.	07’ E.,	166.05 m.	to point 5;
thence	S. 52 deg.	12’ E.,	186.79 m.	to point 6;
thence	S. 10 deg.	42’ W.,	85.70 m.	to point 7;
thence	S. 24 deg.	28’ E.,	207.38 m.	to point 8;
thence	S. 22 deg.	44’ E.,	39.82 m.	to point 9;
thence	S. 22 deg.	44’ E.,	118.83 m.	to point 10;
thence	S. 61 deg.	50’ W.,	190.68 m.	to point 11;
thence	N. 81 deg.	34’ W.,	148.77 m.	to point 12;
thence	S. 87 deg.	33’ W.,	175.35 m.	to point 13;
thence	N. 1 deg.	44’ E.,	300.00 m.	to point 14;
thence	N. 1 deg.	44’ E.,	300.00 m.	to point 15;
thence	N. 1 deg.	44’ E.,	300.00 m.	to point 16;
thence	N. 1 deg.	44’ E.,	25.85 m.	to point 17;
thence	S. 73 deg.	20’ E.,	192.72 m.	to point 18;
thence	S. 73 deg	17’ E.,	148.94 m.	to point 19;
thence	S. 20 deg.	35’ W.,	51.24 m.	to point of

beginning, containing an area of THREE HUNDRED THOUSAND (300,000) SQUARE METERS, more or less. All corners referred to are indicated on the plan and are marked on the ground by P.S. cyl. conc. Mons. 15x40 cm. Bearings: grid; date of survey on June 19-21, 2002 by Geodetic Engineer Jose A. Goc, Jr. and was approved on October 4, 2002.

IN WITNESS THEREOF, I have hereunto set my hand and caused the seal of the Republic of the Philippines to be affixed hereto.

DONE in the City of Manila, this 2nd day of December, in the year of our Lord, Two Thousand and Three.

(Sgd.) GLORIA MACAPAGAL-ARROYO

By the President:

(Sgd.) ALBERTO G. ROMULO

Executive Secretary