<PAGE>

                                                                   EXHIBIT 10.22

                               Equitable PCI Bank

This Mortgage executed by ALLEGRO MICROSYSTEMS PHILIPPINES, INC., a corporation
duly organized and existing in accordance with the laws of the Philippines and
with principal office at Sampaguita St., Marimar Village, Paranaque, Metro
Manila and ALLEGRO MICROSYSTEMS PHILIPPINES REALTY, INC., a corporation duly
organized and existing in accordance with the laws of the Philippines and with
the principal office at the 9th Floor, Common Gold Tower, corner Finance and
Industry Sts., Madrigal Business Park, Alabang, Muntinlupa City, hereinafter
called (irrespective of number) the MORTGAGOR, in favor of EQUITABLE PCI BANK, a
corporation duly organized and existing in accordance with the laws of the
Philippines and with principal office at Makati City, Philippines hereinafter
called MORTGAGEE,

                                   WITNESSETH

That, for and in consideration of certain loans, overdrafts, credit
accommodations and other banking facilities obtained by ALLEGRO MICROSYSTEMS
PHILIPPINES, INC. (if other than MORTGAGOR, hereinafter called, irrespective of
number, the DEBTOR) from the MORTGAGEE, its parent firm, subsidiary or
affiliated company and to secure payment of the same and those others that the
MORTGAGEE, its parent firm, subsidiary or affiliated company may from time to
time hereafter extend to the MORTGAGOR/ DEBTOR, including interest and penalties
thereon and expenses and other charges incurred incidental thereto, and other
obligations owing by the MORTGAGOR/DEBTOR to the MORTGAGEE, its parent firm,
subsidiary or affiliated company including obligations as a surety, whether
direct or indirect, principal or secondary, as appearing in the accounts, books,
and records of the MORTGAGEE, its parent firm, subsidiary or affiliated company,
the MORTGAGOR does hereby transfer or convey, by way of mortgage, unto
MORTGAGEE, its successors or assigns the parcel/s of land which is/are described
at the back of this document or in supplementary list attached thereto, together
with all the buildings and improvements now existing or which may hereafter be
erected or constructed thereon and all easements, sugar, quotas, agricultural or
land indemnities, aids, or subsidies, including all other rights or benefits
annexed to or inherent therein, now existing or which may hereafter exist, and
also other assets acquired with the proceeds of the loan hereby secured, all of
which the MORTGAGOR declares that he is the absolute owner free from all liens
encumbrances. In case the MORTGAGOR/DEBTOR execute/s subsequent promissory note
or notes either as a renewal of the former note, as an extension thereof or as a
new or an entirely different loan or is given any other kind of accommodation
such as overdrafts, letters of credit, releases of import shipments on Trust
Receipts, etc., this mortgage shall also stand as security for the payment of
the said promissory note or notes and/or accommodations without the necessity of
executing a new contract and this mortgage shall also stand as security for said
obligations and any and all other obligations of the MORTGAGOR/DEBTOR to the
MORTGAGEE, its parent firm, subsidiary or affiliated company, of whatever kind
and nature, whether such obligations have been contracted before, during or
after the constitution of this mortgage. However, if the MORTGAGOR shall pay to
the MORTGAGEE its successors or assigns, the obligations secured by this
mortgage together with interest cost and other expenses on or before the date
they are due, and shall keep and perform all the covenants and agreements herein
contained for the MORTGAGOR to keep and perform, then this mortgage shall be
null and void; otherwise it shall remain in full force and effect.

<PAGE>

The MORTGAGOR hereby declares and warrants that there exists no transaction or
document affecting the property/ies subject of this mortgage, previously
presented for, and/ or presently pending registration in the Registry of Deeds
with any city or province.

The consideration of this mortgage is hereby initially fixed at PHILIPPINE
PESOS: ____________________________ (P_________________);

This mortgage is constituted under the following conditions:

     1.   The MORTGAGOR/DEBTOR shall not apply the amount obtained from the
          loans or other credit accommodations except for the purposes stated in
          the covering instruments and/or the loan applications approved by the
          MORTGAGEE.

     2.   The mortgage covering the property/ies not registered under Act No.
          496, or under the Spanish Mortgage Law, shall be registered under the
          provisions of Act No. 3344. In the event untitled property/ies is/are
          brought under the provision of Act No. 496 and the corresponding
          certificate/s of title is/are issued while the loans and other credit
          accommodations secured are still outstanding, the MORTGAGOR shall
          immediately deliver said certificate/s of title to the MORTGAGEE for
          the annotation of this mortgage.

     3.   The MORTGAGOR shall pay all expenses in connection with this mortgage,
          the registration, cancellation or foreclosure thereof should the
          MORTGAGEE deem it necessary, and all other fees, assessment,
          government imposts and taxes such as but not limited to documentary
          and science stamps required by law for its registration as well as
          other instruments related thereto. The MORTGAGOR shall likewise pay on
          time all taxes and assessments on the mortgaged property/ies reporting
          to the MORTGAGEE the fact of such payment on the dates on which they
          were effected and surrendering to the MORTGAGEE for the duration of
          this mortgage, such official receipts as may be issued to him/her/it
          after payment of taxes and other assessments. In the event that the
          MORTGAGOR fails to register the mortgage with the proper Registry of
          Deeds, it is hereby agreed that the MORTGAGEE may, at its sole
          discretion, register the mortgage advancing the fees and taxes
          therefore the account of the MORTGAGOR, the repayment thereof to be
          likewise secured by the mortgage. Any such expense advanced by the
          MORTGAGEE shall bear interest at the same rate as the principal
          obligation hereby secured, computed from the time such advances are
          made.

     4.   The MORTGAGOR shall insure, during the life of the mortgage, all the
          buildings, improvements and other properties covered thereby against
          fire, typhoon, flood, earthquake and other natural calamity for an
          amount and with such company acceptable to the MORTGAGEE, endorsing
          and delivering to the latter the corresponding policies. The MORTGAGOR
          shall not secure any additional insurance policy on the mortgaged
          property/ies without the consent of the MORTGAGEE. However, if the
          MORTGAGOR should secure additional insurance on the mortgaged
          property/ies without the consent of the MORTGAGEE and without properly
          endorsing in favor of the MORTGAGEE the policies corresponding
          thereto, the same shall, by virtue of these presents, be


                                        2

<PAGE>

          considered assigned to the MORTGAGEE, which shall, as such assignee of
          the original and of the additional policy or policies, have authority
          to settle or liquidate, in case the risk or risks insured against
          occur, all claims pertaining to said policy and apply the proceeds
          thereof to the account of the MORTGAGOR and the MORTGAGOR shall be
          credited only with the cash that the MORTGAGEE may receive for said
          property/ies and only from the date it actually receives the same. The
          MORTGAGOR shall keep the mortgaged property/ies in good condition,
          making repairs, filling the land, constructing protective walls that
          may reasonably be necessary. He/She/It shall authorize the MORTGAGEE
          to inspect the mortgaged property/ies to ascertain thereof and the
          actual value in the market. If at any time, during the existence of
          this mortgage and/or as long as the MORTGAGOR is indebted to the
          MORTGAGEE the mortgaged property/ies or any portion thereof is/are
          lost, damaged or suffer/s a depreciation in value due to any cause
          whatsoever other than ordinary wear and tear, the MORTGAGOR,
          his/her/its successors or assigns, shall give additional security
          acceptable to the MORTGAGEE, so as to bring the total value of the
          securities held by the MORTGAGEE to an amount not less than the value
          of the securities appraised by the MORTGAGEE at the time the original
          obligation was contracted and/or the subsequent additional loans were
          given; otherwise, the MORTGAGEE may declare the entire mortgage
          obligation immediately due and demandable as if the period of the
          mortgage obligation has expired. If the MORTGAGOR shall fail to comply
          with any these conditions, the MORTGAGEE may at its discretion declare
          the mortgage due, payable and defaulted, or may advance the cost of
          documentary and science stamps and other registration fees, taxes,
          assignments, insurance or the cost of repairs, filling of the land and
          the construction of the protective walls, all of which shall be
          promptly reimbursed by the MORTGAGOR with interest and charges at the
          rate imposed on the principal amount of the loan/credit accommodation
          to which the expense relates, the payment of these advances, interest,
          penalties and charges thereon being secured also by this mortgage.

     5.   The MORTGAGOR shall neither lease the mortgaged property/ies, nor sell
          or dispose of the same in any manner, nor encumber the same with a
          second mortgage, without the written consent of the MORTGAGEE.
          However, if notwithstanding this stipulation and during the existence
          of this mortgage, the property/ies hereby mortgaged, or any portion
          thereof, is/are leased for over one year, sold or encumbered, it shall
          be the obligation of the MORTGAGOR to impose as condition of sale,
          alienation or encumbrance that the vendee or the party in whose favor
          the alienation or encumbrance is to be made, should take the
          property/ies subject to the obligation of this mortgage in the same
          terms and conditions under which it is constituted, it being
          understood that the MORTGAGOR is not in any manner relieved of
          his/her/its obligation to the MORTGAGEE under this mortgage by such
          sale, alienation, or encumbrance, on the contrary, both the vendor and
          vendee, or the party in whose favor, the alienation or encumbrance is
          made, shall be jointly and severally liable for the said mortgage
          obligations. It shall also be incumbent upon the MORTGAGOR to make it
          a condition of the sale or alienation that the vendee, or any other
          party in


                                        3

<PAGE>

          whose favor the alienation is made, shall recognize, as first lien,
          the existing mortgage or encumbrance in favor of the MORTGAGEE, as
          well as any new or modified mortgage covering the same property/ies to
          be executed by the said MORTGAGOR in favor of the MORTGAGEE, and shall
          further agree, promise, and bind himself/herself/itself to recognize
          and respect any extension of the terms of the original mortgage
          granted by the MORTGAGEE in favor of the MORTGAGOR and such extended
          mortgage shall be considered as prior and superior encumbrance as the
          original mortgage. It is also further understood that should the
          MORTGAGOR sell, or in any manner alienate or encumber the mortgaged
          property/ies in violation of this agreement, he/she/it shall respond
          in damages to the MORTGAGEE.

     6.   Should the MORTGAGEE become involved in any litigation which may have
          relation with any or all of the properties mortgaged by virtue of this
          instrument, all expenses of the MORTGAGEE in such litigation,
          including reasonable amount for attorney's fees to be determined by
          the MORTGAGEE, shall be paid by the MORTGAGOR and this mortgage shall
          stand as security therefore, and any and all obligations of the
          MORTGAGOR shall likewise become immediately due, payable and
          defaulted.

     7.   The MORTGAGOR shall also be considered in default under this contract
          in case of default in the payment of his/her/its obligation or
          non-performance or violation of any agreement with any of the
          MORTGAGEE's parent firm, subsidiary or affiliated company.

     8.   If at any time the MORTGAGOR shall fail or refuse to pay the
          obligations herein secured, or any of the amortizations of such
          indebtedness when due, or to comply with any of the conditions and
          stipulations herein agreed or in the separate instruments evidencing
          the obligations hereby secured or shall, during the time this mortgage
          is in force, institute insolvency, suspension of payment or similar
          proceedings, or be involuntarily declared insolvent, or make a general
          assignment for the benefit of creditors, or shall use the proceeds of
          this loan for purposes other than those specified in the covering
          credit instruments and/or approved loan application, or if a receiver
          be appointed over, or a writ or order of garnishment or attachment be
          issued against any of the assets or income of the MORTGAGOR or if this
          mortgage cannot be recorded in the corresponding Registry of Deeds,
          then all the obligations of the MORTGAGOR/DEBTOR secured by this
          mortgage and all the amortizations thereof shall immediately become
          due, payable and defaulted and the MORTGAGEE may immediately foreclose
          this mortgage judicially in accordance with the Rules of Court, or
          extra-judicially in accordance with Act No. 3135, as amended. For the
          purpose of the extra-judicial foreclosure, the MORTGAGOR hereby
          appoints the MORTGAGEE his/her/its attorney-in-fact to sell the
          property mortgaged under Act No. 3135 as amended, to sign all
          documents and perform any act requisite and necessary to accomplish
          said purpose and to appoint its substitutes as such attorney-in-fact
          with the same powers as above mentioned. In case of judicial
          foreclosure, the MORTGAGOR hereby consents to the appointment of the
          MORTGAGEE or of any of its designates as receiver, without any bond,
          to take charge of the mortgaged property properties at once, and to
          hold possession of the same and the rents,


                                        4

<PAGE>

          benefits and profits derived from the mortgaged property/ies before
          the sale, less the cost and expenses of the receivership, the
          MORTGAGOR hereby agrees further that, in all cases, or in case
          collection of the obligation/s secured hereby is made thru an
          attorney-at-law, attorney's fees hereby fixed at TWENTY PERCENT (20%)
          of the total indebtedness then unpaid, which in no case shall be less
          than P20,000.00, exclusive of all costs and fees allowed by law, and
          the expenses of collection, as rents, and profits derived from the
          mortgaged property/ies or from the proceeds realized from the sale of
          said property/ies and this mortgage shall likewise stand as security
          therefore. It is hereby agreed that the period or periods granted to
          the MORTGAGOR for the payment of the amortizations and/or obligations
          secured by this mortgage is for mutual benefit of both the MORTGAGOR
          and the MORTGAGEE. In case of extra-judicial foreclosure of this
          mortgage, the MORTGAGEE may take actual possession of the foreclosed
          property/ies during the redemption period for the purpose of receiving
          the fruits/income thereof and/or administering the foreclose
          property/ies at its option without any obligation to post a bond. The
          proceeds of the foreclosure sale of the mortgaged property/ies shall
          be applied in the following manner and order:

          a.   Expenses and costs of foreclosure and sale, including publication
               costs and attorney's fees;

          b.   Accrued interest, penalties and charges;

          c.   Principal amount of obligations;

          d.   All other obligations owing by MORTGAGOR/DEBTOR to MORTGAGEE;

          e.   Balance, if any, to be delivered and paid to MORTGAGOR.

     9.   In the event the MORTGAGOR exercise his/her/its rights to redeem the
          mortgaged property/ies, he/she/it shall pay the amount fixed by the
          court in the order of execution or the amount due under this mortgage
          and all other obligations to the MORTGAGEE, its subsidiary or
          affiliated company, including penalties, fees and charges specified in
          the relevant promissory note/s or other evidence of indebtedness
          secured hereby.

     10.  Effective upon the breach of any condition of this mortgage and in
          addition to the remedies herein stipulated, the MORTGAGEE is hereby
          appointed attorney-in-fact of the MORTGAGOR with the full powers and
          authority to take actual possession of the mortgaged property, without
          the necessity of any judicial order or any permission or power, to
          collect rents, to eject tenants, to lease or to sell the mortgaged
          property/ies or any part thereof, at a private sale without notice or
          advertisement of any kind and execute the corresponding bills of sale,
          lease or other agreement that may be deemed convenient, to make
          repairs or improvements on the mortgaged property/ies and pay for the
          same, and perform any other act which the MORTGAGEE may deem
          convenient for the proper administration of the mortgaged
          property/ies. The payment of any expenses advanced by the MORTGAGEE in
          connection with the purposes indicated herein is also guaranteed by
          this mortgage and such amount advanced shall bear interest and charges
          at the rate imposed on the principal amount of the loan credit
          accommodation to which the expenses relate, computed from the time
          such


                                        5

<PAGE>

          advances are made. Any amount received from the sale, disposal or
          administration above-mentioned may be applied to the payment of the
          repairs, improvements, taxes and assessments and other incidental
          expenses and obligations, and also to the payment of the original
          indebtedness and interest thereon. The power therein granted shall not
          be revoked during the life of this mortgage, and all acts that may be
          executed by the MORTGAGEE by virtue of said power are hereby ratified.

     11.  Should the property/ies mortgaged be expropriated by the Government of
          the Philippines, or by any department, branch, subdivision, or
          instrumentality thereof, or by any province, municipality or township,
          or by any person, association or body corporate duly authorized by law
          to acquire property by eminent domain, all moneys paid or which may
          become payable on account or in consideration of the expropriation of
          the property/ies mortgaged and/or any price or pieces of real estate
          property or personal property given in exchange for the property so
          expropriated shall be immediately delivered to the MORTGAGEE, which is
          hereby expressly authorized to collect said moneys or receive such
          property/ies from whomsoever they may be properly due and payable,
          crediting the MORTGAGOR only with the cash thus received effective on
          the day the MORTGAGEE receives the same and reserving the property
          received in exchange for those expropriated for such further action as
          may be necessary to convert them into cash and apply the same to the
          accounts of the MORTGAGOR. The MORTGAGOR further covenants not to
          agree upon any purchase price or exchange in consideration of the
          property so expropriated without the written consent of the MORTGAGEE.

     12.  All correspondence relative to this mortgage, including demand
          letters, summons, subpoenas or notifications of any judicial or
          extrajudicial action shall be sent to the MORTGAGOR at the address
          given above or at the address that may hereafter be given in writing
          by the MORTGAGOR to the MORTGAGEE; the mere act sending any
          correspondence by mail or by personal delivery to the said address
          shall be valid and effective notice to the MORTGAGOR for all legal
          purposes, and the fact that any communication is not actually received
          by the MORTGAGOR or that it has returned unclaimed to the MORTGAGEE,
          or that no person was found at the address given, or that the address
          is fictitious or cannot be located, shall not excuse or relieve the
          MORTGAGOR from the effects of such notice. Provided, however, that in
          case of foreclosure of mortgage, personal notice to the MORTGAGOR of
          the notice of sale shall not be required and that publication of the
          notice of sale in a newspaper of general circulation alone is
          sufficient compliance with the notice and posting requirement of the
          law.

     13.  The MORTGAGOR shall execute such other necessary documents as may be
          required of him/her/it by the MORTGAGEE.

     14.  The MORTGAGOR shall not make any alteration upon or demolish any
          building or buildings herein mortgaged, without the prior consent of
          the MORTGAGEE.

     15.  It is hereby agreed that in case of foreclosure of this mortgage under
          Act No. 3135, as amended, the auction sale shall be held at the
          capital of the province if the property is within the territorial
          jurisdiction of the province concerned, or


                                        6

<PAGE>

          shall be held in the city, if the property is within the territorial
          jurisdiction of the city concerned.

     16.  It is hereby agreed that in case of foreclosure of this mortgage under
          Act No. 3135, as amended, the auction sale shall be held at the
          capital of the province if the property is within the territorial
          jurisdiction of the province concerned, or shall be held in the city,
          if the property is within territorial jurisdiction of the city
          concerned.

     17.  In case of the foreclosure, the MORTGAGOR/DEBTOR shall be liable for
          the deficiency, if any, between the purchase price at the foreclosure
          sale and the outstanding obligation under this mortgage deed.

     18.  Whenever this mortgage is executed in accommodation of a DEBTOR other
          than a MORTGAGOR, the MORTGAGOR agrees that the mortgage shall stand
          as security for the renewal, extension of payment of the obligation
          secured by this mortgage or its conversion into any other credit
          facility that may be agreed upon between the DEBTOR and the MORTGAGEE,
          as well as all additional loans or credit accommodations that may be
          granted by the MORTGAGEE to the DEBTOR without further need of
          amending the mortgage and the DEBTOR is deemed to be Attorney-in-fact
          of the MORTGAGOR for such purpose. The MORTGAGOR further agrees that
          this mortgage shall also secure his/her/its own personal obligations
          with the MORTGAGEE of whatever kind and nature, whether direct or
          indirect, principal or secondary, as appearing in the account, books
          and records of the MORTGAGEE as if this mortgage were executed to
          secure the said personal obligations of the MORTGAGOR under the same
          terms and conditions. The obligations of the MORTGAGOR shall be deemed
          the solidary obligations of the DEBTOR and vice versa. For this
          purpose, it is hereby agreed that the term "DEBTOR" or any other word
          describing the principal obligor shall likewise mean and include the
          term "MORTGAGOR", and vice versa, as the context may require.

     19.  Should any of the provisions of this mortgage be declared
          unconstitutional, or unenforceable by any competent court, such
          declaration shall not in any way affect the constitutionality,
          legality or enforceability of the other provisions thereof not
          affected thereby.

     20.  If the obligations herein secured are loans granted under the lending
          program of the Social Security System (SSS) or Development Bank of the
          Philippines (DBP), the MORTGAGOR/BORROWER, fully aware of the
          Memorandum of Agreement and the Loan Agreement, including any of its
          amendments, entered into by and between the MORTGAGEE and the SSS/DBP
          under the latter's Omnibus Credit Line, hereby agrees to the automatic
          assignment to the SSS/DBP by the MORTGAGEE of all its rights and
          interest under this Agreement which shall take effect without need of
          further documentation upon the occurrence of any of the following
          events:

          a.   Default as defined in the Loan Agreement or Memorandum of
               Agreement mentioned above;

          b.   Insolvency of the MORTGAGEE;

          Provided that in the event of automatic assignment to SSS/DBP as
          provided herein, the same shall be deemed effective as of the date of
          registration of this


                                        7

<PAGE>

          mortgage with the appropriate Register of Deeds, with the rights of
          SSS/DBP enjoying superiority and preference over those of all other
          creditors including the MORTGAGEE; provided further, that in cases of
          mixed funded loans secured by this mortgage, the occurrence of any of
          the aforesaid event shall automatically convert this mortgage into a
          Joint Pari-Passu First Mortgage in favor of both the MORTGAGEE and
          SSS/DBP where the interest of the latter shall consist of the loan
          granted under the SSS/DBP Omnibus Credit Line or Loan Agreement.

                          LIST OF PROPERTIES MORTGAGED

Executed in _____________ this _____ day of ____ at _______________, Philippines

<TABLE>
<S>                                 <C>                                 <C>
DEBTOR:                             MORTGAGOR:                          MORTGAGOR:

ALLEGRO MICROSYSTEMS PHILS., INC.   ALLEGRO MICROSYSTEMS PHILS., INC.   ALLEGRO MICROSYSTEMS PHILS. REALTY,
                                                                        INC.


/s/ Fancisco N. Meroy, Jr.          /s/ Fancisco N. Meroy, Jr.          /s/ Fancisco N. Meroy, Jr.
---------------------------------   ---------------------------------   -----------------------------------
NAME: Fancisco N. Meroy, Jr.        NAME: Fancisco N. Meroy, Jr.        NAME: Fancisco N. Meroy, Jr.
Director of Fin. Admin, HR          Director of Fin. Admin, HR          President


/s/ Danilo S. Navarro               /s/ Danilo S. Navarro               /s/ Danilo S. Navarro
---------------------------------   ---------------------------------   -----------------------------------
NAME: Danilo S. Navarro             NAME: Danilo S. Navarro             NAME: Danilo S. Navarro
Finance & Acctg. Manager            Finance & Acctg. Manager            Treasurer
</TABLE>


                                        8

<PAGE>

                            SIGNED IN THE PRESENCE OF

<TABLE>
<S>                                 <C>                                 <C>


/s/ Maria Luisa Limbaga             /s/ Vida V. Villegas                /s/Anna Alcars
---------------------------------   ---------------------------------   -----------------------------------
NAME: Maria Luisa Limbaga           NAME: Vida V. Villegas              NAME: Anna Alcars
</TABLE>

                                 ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )
MAKATI CITY                 ) S.S.

All the locally above mentioned, this day of 04 MAY 2004 personally appeared
before me:

<TABLE>
<CAPTION>
NAME                                COMM. TAX CERT. NO.      DATE &PLACE ISSUED
----                                -------------------   ------------------------
<S>                                 <C>                   <C>
Allegro Microsystems Phils., Inc.         00132939        01-30-03/ Paranaque City
Francisco N. Meroy, Jr.                   20206731        01-30-03/ Paranaque City
Danilo S. Navarro                         11935923        01-22-03/ Paranaque City
</TABLE>

Known to me and to be the same persons who executed the foregoing Instrument and
acknowledged to me that the same is their own free and voluntary act and deed
(and that of the corporation's therein represented). Thus instrument refers to
the mortgage of ___ (___) meters of land and with all the buildings,
improvements, etc. thereon and consists of ___ (___) pages including this page
on which this acknowledgment is written, signed by the parties and the witnesses
on all pages.

     IN WITNESS WHEREOF, I have hereto set my hand and affixed my nortarial seal
at the place and on the date first above written.

                                        Notary Public


                                        /s/ Nendell L.Go
                                        ----------------------------------------
                                        ATTY. AENDELL L GO
                                        NOTARY PUBLIC UNTIL JANUARY 14, 2006
                                        PTR No. 7012007
                                        JANUARY 05, 2004
                                        MAKITA CITY

Doc. No. 244;
Page No. 50;
Book No. LT;
Series of 2004.

                  I hereby certify that the instrument has been duly [illegible]
                  proper memorandum having been made on Transfer Certificate
                  of Title No. 158614 and on its Owner's Duplicate
                  Book No. 794 File No. 14
                  [illegible] Merro Manila 5 5-04


                                        9