Please be informed that Board Resolution No. 02-05-35 dated May 27, 2002 was passed by the Board of Directors during its regular meeting, to wit: 

"RESOLVED, as it is hereby resolved, that the requirement of 500 pieces of inventory of copyrighted videograms with VRB rating labels/holograms for new applicants for videogram retailers is reduced to 300 pieces of copyrighted videograms with VRB rating labels/holograms to encourage legitimization of videogram retail outlets. 

This Board Resolution hereby amends Memorandum Circular No. 95-0008 and Board Resolution No. 95-05-78."

For your information and guidance.

Adopted: 10 June 2002

(SGD.) ATTY. LUALHATI R. BUENAFE, CESO II
  Chairperson and Chief Executive Officer