06 July 2011 Ms. SARA CRISTINA G. TIAMBENG Marketing Executive GTS Insurance & Reinsurance Brokers Suites 710 & 810 Prestige Tower, Emerald Avenue Ortigas Center, Pasig City 1605 Subject: NOTICE OF AWARD 2011 Contract Award for Group Term Insurance Policy Dear Ms. Tiambeng: The Bases Conversion and Development Authority (BCDA) hereby awards to Grepalife Financial Inc. the contract for the Group Term Insurance Policy, which shall cover all bona fide employees of BCDA, BCDA Management and Holdings, Inc. (BMHI) and North Luzon Railways Corp. (Northrail) amounting to Pesos: Three Hundred Seventy Nine Thousand Three Hundred Thirty Five (Php379,335.00). In this regard, you are hereby directed to commence your services according to the terms and conditions stipulated in the Contract Agreement effective on 07 July 2011 to 06 July 2012. Please feel free to coordinate with Mr. Michael A. Vivas of the Organization Development and Management Department at tel no: 816-6666 loc 176 regarding this matter. Please indicate your concurrence by signing this Notice of Award on the space provided below and return the same immediately to BCDA upon signing. Very truly yours, ELEANOR L. ATIENZA (sgd) Vice President, Corporate Services Group Conforme: _______________________________ SARA CRISTINA G. TIAMBENG Date: ________________