EXHIBIT 7
 PHILIPPINE LONG DISTANCE TELEPHONE COMPANY
Calculation of Ratio of Earnings to Fixed Charges
For the years 2006 through 2009  Amounts in conformity with IFRS
 2009(1)
    
    
    2009
    
    
    2008
    
    
    2007
    
    
    2006(in millions, except ratio of earnings to fixed charges)Earnings: Income before income taxPre-tax income from continuing operations before
adjustment for minority interest in consolidated
subsidiaries or income or loss from equity investees
subsidiaries
    
    US$
    1,181
    
    
     Php
   54,839
    
    
     Php
   54,049
    
    
     Php
   58,081
    
    
     Php
   38,249Add (Deduct):Fixed Charges(see b below)
    
    
    178
    
    
    
    8,273
    
    
    
    7,831
    
    
    
    8,051
    
    
    
    10,874Amortization of capitalized interest
    
    
    34
    
    
    
    1,544
    
    
    
    1,543
    
    
    
    1,559
    
    
    
    1,490Capitalized interest
    
    
    (15
    )
    
    
    (691
    )
    
    
    (778
    )
    
    
    (542
    )
    
    
    (549
    )Total Earnings(a)
    
    US$
    1,378
    
    
     Php
   63,965
    
    
     Php
   62,645
    
    
     Php
   67,149
    
    
     Php
   50,064Fixed Charges(b)Interest on loans and related items
    
    US$
    114
    
    
     Php
   5,317
    
    
     Php
   5,083
    
    
     Php
   5,714
    
    
     Php
   7,359Capitalized interest
    
    
    15
    
    
    
    691
    
    
    
    778
    
    
    
    542
    
    
    
    549Amortization of debt issuance costs and debt discount
    
    
    20
    
    
    
    913
    
    
    
    751
    
    
    
    874
    
    
    
    2,214Estimated financing component of rent expense(3)
    
    
    29
    
    
    
    1,352
    
    
    
    1,219
    
    
    
    921
    
    
    
    752Total Fixed Charges
    
    US$
    178
    
    
     Php
   8,273
    
    
     Php
   7,831
    
    
     Php
   8,051
    
    
     Php
   10,874Ratio (a/b)(2)
    
    
    7.7
    
    
    
    7.7
    
    
    
    8.0
    
    
    
    8.3
    
    
    
    4.6
 For the year 2005  Amounts in conformity with U.S. GAAP
 (in millions, except ratio ofearnings to fixed charges)Earnings:Pre-tax income from continuing operations before
adjustment for minority interest in consolidated
subsidiaries or income or loss from equity investees
subsidiaries
    
     Php
   45,770Add (Deduct):Fixed Charges (see b below)
    
    
    11,273Amortization of capitalized interest
    
    
    1,443Capitalized interest
    
    
    (504
    )Total Earnings(a)
    
     Php
   57,982Fixed Charges(b)Interest on loans and related items
    
     Php
   9,615Capitalized interest
    
    
    504Amortization of debt issuance costs and debt discount
    
    
    459Estimated financing component of rent expense(3)
    
    
    695Total Fixed Charges
    
     Php
   11,273Ratio (a/b)(2)
    
    
    5.1
 
 (1)
    
    We maintain our accounts in Philippine pesos, the functional and presentation currency under
IFRS and U.S. GAAP. For convenience, the peso financial information as at and for the year
ended December 31, 2009 has been translated into U.S. dollars at the exchange rate of
Php46.425 to US$1.00, the peso-dollar rate as quoted through the Philippine Dealing System as
at December 31, 2009.(2)
    
    For purposes of this ratio, Earnings consist of: (a) pre-tax income from continuing
operations before adjustment for minority interest in consolidated subsidiaries or income or
loss from equity investees, (b) fixed charges, (c) amortization of capitalized interest, (d)
distributed income of equity investees, and (e) share of pre-tax losses of equity investees
for which charges arising from guarantees are included in fixed charges; less the sum of the
following: (1) capitalized interest, (2) preference security dividend requirements of
consolidated subsidiaries, and (3) the minority interest in pre-tax income of subsidiaries
that have not incurred fixed charges Fixed charges consist of interest expensed and capitalized interest, amortized premiums,
discounts and capitalized expenses related to indebtedness, an estimate of interest within rental
expense, and preference security dividend requirements of consolidated subsidiaries.(3)
    
    Rent expense substantially represents payments for the satellite circuits leased by PLDT.
Historically, PLDT has been using one-third of rent expense as a reasonable estimate of the
financing component of rent expense, since it is impracticable to determine the actual
financing component of rent expense.