Letter of Collection

April 12, 2003

Mr. Erwin Navarro
Wawa St. Abucay, Bataan

Dear Mr. Navarro:

Upon examining your records carefully, we learned that you still have an outstanding balance of five hundred thousand pesos (Php 500,000.00).  To remind you, such amount is for the one Honda Civic car that you ordered last October 24, 2001.

We are requesting your immediate full settlement of the abovementioned amount so that we can avoid any inconvenience.  By settling your account within 15 working days, you will help us significantly in ensuring prompt delivery of your succeeding orders.

Thank you and warm regards.

Sincerely yours,

Daisy Roxas