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 2008**
 

 

**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 markwhether the registrant files or will file annual reports under cover Form 20-For Form 40-F.)

 

Form20-F      Ö                                  Form40-F

 

 

(Indicate by check markwhether by furnishing the information contained in this Form, the registrant isalso thereby furnishing the information to the Commission pursuant to Rule12g3-2(b) under the Securities Exchange Act of 1934.)

 

Yes                                                        No       Ö

 

 

(If "Yes" ismarked, indicate below the file number assigned to the registrant in connectionwith Rule 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, 2007.  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 “Asia-America Gateway Link PLDT launches Philippine leg of US$550-M fiber cable network”.

 

6

 

 

 

Exhibit 1

 

 

May 27, 2008 

 
 

 

The Philippine Stock Exchange
4th Floor PSECentre

Exchange Road, Ortigas Center

Pasig City

 

Attention:        Atty.Pete M. Malabanan 

                        Head,Disclosure Department

 

Ladies and Gentlemen:

 

In compliance withSection 17.1(b) and Section 17.3 of the Securities Regulation Code, we submitherewith a copy of SEC Form 17-C with a copy of a press release attachedthereto entitled “Asia-America Gateway Link PLDT launches Philippine leg ofUS$550-M fiber cable network”. 

 

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 27, 2008 

 

 

SECURITIES &EXCHANGE COMMISSION

Money MarketOperations Department

SEC Building, EDSA

Mandaluyong City

 

Attention         :           DirectorJustina F. Callangan

                                    CorporationsFinance Department

 

Gentlemen:

 

Re       :           PhilippineLong Distance Telephone Company

                        SECRegistration No. PW-55

 

In accordance withSection 17.1 (b) of the Securities Regulation Code, we submit herewith five (5)copies of SEC Form 17-C with a copy of a press release attached thereto  entitled“Asia-America  Gateway  Link  PLDT  launches  Philippine  leg  of US$550-Mfiber cable network”. 

 

Very trulyyours,

 

/s/ Ma. Lourdes C. Rausa-Chan

MA. LOURDES C. RAUSA-CHAN

Corporate Secretary 

 

MLCRC:amq

Encs.

Page 2 of 6

   

Exhibit1

 

 

SECURITIES ANDEXCHANGE COMMISSION

 

 

SEC FORM 17-C

 

CURRENT REPORTUNDER SECTION 17

OF THE SECURITIESREGULATION CODE

AND SRC RULE 17.1

 

 

1.                 May 27, 2008 

(Date of 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

of Incorporation

 

7.         9th Floor MGO Building

            Legaspicorner dela Rosa Streets, Makati City                                  1200 

     Address of principal office                                                                  PostalCode

 

8.         (632)816-8553                                           

           Registrant's telephone number, including areacode
 

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 copyof a press release entitled “Asia-America Gateway Link PLDT launches Philippineleg of US$550-M fiber cable network”. 

 

 

 

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 27, 2008

 

 

Page 4 of 6

    

Exhibit 1

 

**PRESS RELEASE**

 

**Asia-America Gateway Link**

**PLDT launches Philippine leg**

**of US$550-M fiber cable network**

 

***MANILA******, Philippines******, May27, 2008*** – PLDT marks today another major milestone in the country’stelecommunications industry with the landing of the Philippine leg of theAsia-America Gateway (AAG) in Bgy. Baccuit, Bauang, La Union.

 

President GloriaMacapagal-Arroyo is expected to head government officials, PLDT officers, andsome of its top clients in today’s ceremonies.

 

The AAG cable project isa US$550-million, 20,000-km long fiber optic cable network that will connect Malaysia, Singapore, Thailand, Brunei Darussalam, Vietnam, Hong Kong, the Philippines, Guam, Hawaii, and the US West Coast. Of the US$550-million total cost, PLDT’scontribution is US$50 million.

 

The construction of AAGwill enable the Philippines to become a hub for regional and trans-Pacificconnectivity and at the same time, meeting the expected explosive growth in thecountry’s international bandwidth requirements to support cutting edgebroadband applications such as IP-based data, video and other multimediaservices. 

 

Additionally, AAG willprovide added protection from disruptions such as the 2006 earthquake with 7.1magnitude that caused massive service interruptions of telecommunicationsservices to corporate and retail customers across the region.

 

AAG will provide awelcome boost to BPOs, call centers and other growth industries that depend onadvanced telecommunications services and thus further propel the country’s economicdevelopment.

 

The enhancedinternational connectivity will also support the growth of broadband Internetservices which PLDT is aggressively promoting through both wired and wirelessbroadband access services such as PLDT MyDSL and Smart Bro Prepaid.

Page 5 of 6

    

Exhibit 1

 

“The Asia-America Gateway(AAG) is not a conventional cable network. It has been conceived to providestate-of-the-art technology, routing options, render diversity to traditionalroutes and help improve network resiliency via cost-effective way,” saidInternational and Carrier Business Group Head Ramon Fernandez. 

 

Because of thesefeatures, a London-based magazine, Global Telecom Business, gave it the “MostInnovative Project” award under the International Fixed Network Infrastructure.This award provides AAG an edge in positioning it as the best solution for manycarriers.

 

This project, which isexpected to carry international traffic early next year, will also provide forfuture connectivity that can be extended to Australia, India, Africa and Europe.

 

XXX

**About PLDT**

PLDT is the leading telecommunications serviceprovider in the Philippines. Through its three principal business groups —wireless, fixed line, and information and communications technology — PLDToffers the largest and most diversified range of telecommunications servicesacross the Philippines’ most extensive fiber optic backbone and wireless, fixedline and satellite networks.

PLDT is listed on the Philippine Stock Exchange(PSE:TEL) and its American Depositary Shares are listed on the New York StockExchange (NYSE:PHI).  PLDT has one of the largest market capitalizations amongPhilippine-listed companies.

Further information can be obtained by visiting theweb at www.pldt.com.ph.

 

**Contactpersons:**

** **

**Ramon R.Isberto                                               Horace A. Lavides**

PLDT Spokesperson                                           PLDTSenior Manager

Tel. No.: +63 25113101                                      Tel. No.: +63 2 8168684

Fax No.: +63 25113100                                      Email: halavides@pldt.com.ph

 

 

 

 

Signatures

 

 

Pursuantto the requirements of the Securities Exchange Act of 1934, the registrant hasduly caused this report to be signed on its behalf by the undersigned,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 27, 2008