WHEREAS, on December 22, 1985 I signed LOI No. 1502 upon the behest and representations of the Prime Minister authorizing the Societe General de Surveillance S.A. (SGS) to inspect quality, quantity and price of goods prior to shipment to the Philippines on an exclusive basis;

WHEREAS, intelligence reports having been submitted after the issuance of the said LOI Which if available at the time the representations were made at the time of the LOI's issuance, the said letter would not have been, signed at all;

WHEREAS, economic and security reasons dictate that said LOI be revoked and declared without force and effect;

NOW, THEREFORE, pursuant to the powers vested upon me as President of the Philippines under the Constitution and existing laws, LOI No. 1502, is hereby, recalled and is rendered without force at all and any and all acts that may have emanated pursuant to such LOI are hereby also rendered null and void.

Done in the City of Manila, this 29th day of December, in the Year of Our Lord, nineteen hundred and eighty-five.


By the President :

(Sgd.) JUAN C. TUVERA
Presidential Executive Assistant