SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 

 

FORM 6-K

Report of Foreign Private Issuer 

 

Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934

 

 

**For the month of May 2007**
 

 

**Commission File Number 1-03006**

 

 

Philippine Long Distance Telephone Company
(Exact Name of Registrant asSpecified in Its Charter)

 

**Ramon****Cojuangco Building**

**Makati Avenue**

**Makati****City**

**Philippines**

(Address of principal executiveoffices)

 

 

(Indicate by check mark whether theregistrant files or will file annual reports under cover Form 20-F or Form40-F.)

 

Form 20-F      Ö                                  Form40-F

 

 

(Indicate by check mark whether byfurnishing the information contained in this Form, the registrant is alsothereby furnishing the information to the Commission pursuant to Rule 12g3-2(b)under the Securities Exchange Act of 1934.)

 

          Yes                                                        No       Ö

 

 

(If "Yes" is marked,indicate below the file number assigned to the registrant in connection withRule 12g3-2(b): 82- ________ )
****
 

 

NOTE REGARDINGFORWARD-LOOKING STATEMENTS

 

Some information in this report may containforward-looking statements within the meaning of Section 27A of the U.S.Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of1934.  We have based these forward-looking statements on our current beliefs,expectations and intentions as to facts, actions and events that will or mayoccur in the future.  Such statements generally are identified byforward-looking words such as “believe,” “plan,” “anticipate,” “continue,” “estimate,”“expect,” “may,” “will” or other similar words.

A forward-looking statement may include astatement of the assumptions or bases underlying the forward-lookingstatement.  We have chosen these assumptions or bases in good faith.  Theseforward-looking statements are subject to risks, uncertainties and assumptions,some of which are beyond our control.  In addition, these forward-lookingstatements reflect our current views with respect to future events and are nota guarantee of future performance.  Actual results may differ materially frominformation contained in the forward-looking statements as a result of a numberof factors, including, without limitation, the risk factors set forth in“Item 3. Key Information – Risk Factors” in our annual report on Form 20-Ffor the fiscal year ended December 31, 2005.  You should also keep in mind thatany forward-looking statement made by us in this report or elsewhere speaksonly as at the date on which we made it.  New risks and uncertainties come upfrom time to time, and it is impossible for us to predict these events or howthey may affect us.  We have no duty to, and do not intend to, update or revisethe statements in this report after the date hereof.  In light of these risksand uncertainties, you should keep in mind that actual results may differmaterially from any forward-looking statement made in this report or elsewhere.

 
 

 

**EXHIBITS**
 

 

 

Exhibit Number

 

Page

 

1

 

A copy of the disclosure letter we sent today to the Philippine Stock Exchange and the Securities and Exchange Commission regarding a press release entitled “Worldwide Telecommunications Leaders to Build First High Bandwidth Optical Fiber Submarine Cable System from Southeast Asia to USA”.

 

6

 

 

 

Exhibit 1

 

** **

   

 

May 2, 2007 

 
 

 

The Philippine Stock Exchange
Disclosure Department

4th Floor PSE Centre

Exchange Road, Ortigas Center

Pasig City

 

Attention:        Atty. Pete M.Malabanan 

Head,Disclosure Department

 

Ladies and Gentlemen:

 

In compliance with Section 17.1(b)and Section 17.3 of the Securities Regulation Code, we submit herewith a copyof SEC Form 17-C with a copy of a press release attached thereto entitled“Worldwide Telecommunications Leaders to Build First High Bandwidth OpticalFiber Submarine Cable System from Southeast Asia to USA”.

 

This shall also serve asthe disclosure letter for the purpose of complying with the PSE RevisedDisclosure Rules.

 

Respectfully yours,

 

/s/ Ma. Lourdes C. Rausa-Chan

MA. LOURDES C. RAUSA-CHAN

Corporate Secretary 

 

MLCRC:amq

Encs.

Page 1 of 6

    

Exhibit 1

 

 

 

May 2, 2007 

 

 

SECURITIES &EXCHANGE COMMISSION

Money MarketOperations Department

SEC Building, EDSA

Mandaluyong City

 

Attention         :           DirectorJustina F. Callangan

                                    CorporationsFinance Department

 

Gentlemen:

 

Re       :           Philippine LongDistance Telephone Company

                        SECRegistration No. PW-55

 

In accordance with Section 17.1 (b)of the Securities Regulation Code, we submit herewith five (5) copies of SECForm 17-C witha copy of a press release attached thereto entitled “WorldwideTelecommunications Leaders to Build First High Bandwidth Optical FiberSubmarine Cable System from Southeast Asia to USA”.

 

Very trulyyours,

 

/s/ Ma. Lourdes C. Rausa-Chan

MA. LOURDES C. RAUSA-CHAN

Corporate Secretary 

 

MLCRC:amq

Encs.

Page 2 of 6

   

Exhibit 1

 

 

SECURITIES ANDEXCHANGE COMMISSION

 

SEC FORM 17-C

 

CURRENT REPORTUNDER SECTION 17

OF THE SECURITIESREGULATION CODE

AND SRC RULE 17.1

 

 

1.                 May 2, 2007 

(Dateof earliest event reported)

 

2.                 SEC Identification Number  PW-55

 

3.                 BIR Tax Identification No. 000-488-793

 

4.                 PHILIPPINE LONGDISTANCE TELEPHONE COMPANY                                 

            Exactname of registrant as specified in its charter

 

5.         PHILIPPINES6. _____________ (SEC Use Only)  

           Province, country or otherjurisdiction             Industry Classification Code

           ofIncorporation

 

7.         9th Floor MGO Building

            Legaspicorner dela Rosa Streets, Makati City                                  1200 

            Addressof principal office                                                                  PostalCode

 

8.         (632)816-8553                                           

Registrant's telephone number,including area code
 

9.         NotApplicable                                                               

            Formername or former address, if changed since last report

 

10.       Securitiesregistered pursuant to Sections 8 and 12 of the SRC

 

            Titleof Each Class                             Number of Shares of Common Stock

          Licensed and Amount of Debt Outstanding

 

Page 3 of 6

    

Exhibit 1

 

 

11.       Item9 – Other Events

 

Attached hereto is a copy of a pressrelease entitled “Worldwide Telecommunications Leaders to Build First HighBandwidth Optical Fiber Submarine Cable System from Southeast Asia to USA”.

 

 

 

SIGNATURE

 

            Pursuantto the requirements of the Securities Regulation Code, the Registrant has dulycaused this report to be signed on its behalf by the undersigned hereto dulyauthorized.

 

 

 

 

PHILIPPINE LONG DISTANCE

TELEPHONE COMPANY

 

 

/s/ Ma. Lourdes C. Rausa-Chan

MA. LOURDES C. RAUSA-CHAN

Corporate Secretary

 

 

 

 

 

Date:   May 2, 2007 

 

Distribution Copies:  5 copies –Securities & Exchange Commission

                        1copy    - Philippine Stock Exchange

                                    1copy    - Company Secretary

 

Page 4 of 6

  Exhibit 1

 

 

**PRESS RELEASE**

 

** **

**WORLDWIDETELECOMMUNICATIONS LEADERS TO BUILD FIRST HIGH BANDWIDTH OPTICAL FIBERSUBMARINE CABLE SYSTEM FROM SOUTHEAST ASIA TO USA**

* *

A historic landmark in the developmentof telecommunications

between South East Asia and USA

 

***KUALA LUMPUR******, May 2, 2007...*******Major telecommunicationsindustry leaders recently signed an agreement to build the first high-bandwidthoptical fiber submarine cable system from Southeast Asia direct to the United States. Known as the Asia-America Gateway (AAG) Cable System, the system is expectedto cost approximately US$500 million.

 

This cable project is spearheaded by17 parties, including AT&T Inc., Bharti, BT Global Network Services, CAT Telecom,ETPI, PCP Company Limited, PLDT, PT Indosat, Saigon Postel Corporation,StarHub, Telekom Malaysia, TELKOM Indonesia, Telstra, the Government of BruneiDarussalam, TNZL, Viettel, and VNPT. 

 

The Supply Contract for theconstruction of the AAG will be signed between the AAG and the consortium ofAlcatel-Lucent and NEC later on the same day in Kuala Lumpur. 

 

The 20,000 km long AAG will connect Malaysia, Singapore, Thailand, Brunei Darussalam, Vietnam, Hong Kong SAR, Philippines, Guam, Hawaii and the US West Coast. Besides serving these countries/regions, the cablesystem will also provide seamless interconnection with other major cablesystems connecting Europe, Australia, other parts of Asia and Africa. The AAGis expected to carry commercial traffic by 4th Quarter of 2008.

 

The first direct Terabit-scalesubmarine cable network between Southeast Asia and North America is a historiclandmark in the development of telecommunications between the two regions. 

 

The AAG is designed to provide 1.92Terabit per second using the field-proven Dense Wavelength DivisionMultiplexing (DWDM) technology to provide upgradeable, future prooftransmission facilities that support Internet and e-commerce. 

 

Page 5 of 6

   

 

Exhibit 1

 

The AAG is expected to meet theforecasted explosive growth in bandwidth requirements for new and revolutionarybroadband applications such as IP, video, data, and other multimedia services.With such design, the AAG is able to support about 130,000 simultaneous HighDefinition Television (HDTV) signals.

 

The birth of the AAG willrevolutionize high bandwidth delivery between Asia and the USA. The AAG, designed for broadband traffic, will provide much-needed diversity in traditionalroutes to the US and ensure alternate routes, expanded capacity and high levelsof service during potential disasters. The AAG, with its large bandwidth andhigh quality transmission technology, will help meet the present and futureburgeoning growth in telecommunications traffic.

 

** **

**XXX**

** **

** **

**Contact persons:**

 

Ramon R. Isberto

PLDT Spokesperson

Tel. No. 632-5113101

Fax No. 632-5113100

 

Horace A. Lavides

PLDT Senior Manager

Tel. No. 632-816-8684

Email: halavides@pldt.com.ph

 

Page 6 of 6

    

 

Signatures

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, theregistrant has duly caused this report to be signed on its behalf by theundersigned, thereunto duly authorized.

 

 

 

PHILIPPINE LONG DISTANCE

TELEPHONE COMPANY

 

 

 

By        :     /s/ Ma. Lourdes C. Rausa-Chan

Name  :     Ma. Lourdes C. Rausa-Chan

Title     :     Senior Vice President, Corporate

                  Affairs and Legal Services Head 

                  and Corporate Secretary

 

 

 

 

 

 

 

Date:May 2, 2007