BUREAU OF THE TREASURY
                                                          TAP Facility Window


                                                             SUMMARY OF AWARD


          Instrument      :      Treasury Bond    Instrument      :                       Instrument      :                       
          Series          :       PIBD2032B183    Series          :                       Series          :                       
          Orig. Issue Date:         02/02/2012    Orig. Issue Date:                       Orig. Issue Date:                       
          Re-issue Date   :                       Re-issue Date   :                       Re-issue Date   :                       
          Offered Date    :       Feb  1 2012     Offered Date    :                       Offered Date    :                       
                  upto    :       Feb  1 2012             upto    :                               upto    :                       
          Offering        :         P9,000.00M    Offering        :                       Offering        :                       
          Coupon Rate     :              5.875    Coupon Rate     :                       Coupon Rate     :                       
          YTM             :              5.906    YTM             :                       YTM             :                       
          Price           :             99.639    Price           :                       Price           :                       
          Maturity Period :            20 Year    Maturity Period :                       Maturity Period :                       
          Maturity Date   :         02/02/2032    Maturity Date   :                       Maturity Date   :                       
          Percent Awarded :            100.000    Percent Awarded :                       Percent Awarded :                       


           TENDERED     ACCEPTED      REJECTED     TENDERED     ACCEPTED      REJECTED     TENDERED     ACCEPTED      REJECTED
              (M)          (M)           (M)          (M)          (M)           (M)          (M)          (M)           (M)
          ----------   ----------    ----------   ----------   ----------    ----------   ----------   ----------    ----------
Total      23,555.00     9,000.00      14,555.0                                                                                   
          ==========   ==========    ==========   ==========   ==========    ==========   ==========   ==========    ==========