RESOLVED, to APPROVE the Revised Policy Guidelines on the Acquisition, Administration and Disposition of Acquired Assets, a copy of which is hereto attached (Annex "D"^*) and made an integral part of this Resolution.

All Board Resolutions pertaining to acquired assets and housing loan interest rates enacted and approved by the Board of Trustees shall form an integral part of this Business Policy Statement. Any amendment or improvement shall be subject to approval by the Board of Trustees unless duly delegated to the President and General Manager.

Adopted: 13 Aug. 2003 (Board Meeting No. 15)

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^* Text Available at Office of the National Administrative Register, U.P. Law Complex, Diliman, Quezon City