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GM FABELLA LAW & AUDITING OFFICE

Gilbert M. Fabella
CPA , LAWYER & CONSULATANT
Suite 209 Ablaza Bldg.,
117 E. Rodriguez Sr. Avenue, Quezon City
PLDT NO. 732-51-51 Local 228
Cell No. 0915-815-4705
Pager No. 1441-80-00-52

The Board of Trustees


MAXIMA EQUIPTMENT COMPANY, INC.
# 202 E. Rodriquez Sr.
Boulevard, Quezon City

Gentlemen:
I have examined the Balance Sheet and the related Income and Expenses of
Maxima
Equipment Company, Inc., for the year then ended December 31,
2001. My examination was made in accordance with the generally accepted auditing
standards and accordingly included such tests of the accounting records and other
auditing procedures as I considered necessary under the circumstances.
In my opinion as an Independent Certified Public Accountant, the accompanying
financial statement present fairly the financial position of Maxima Equipment Company
Incorporated for the year then ended December 31, 2001 in conformity with the
accounting principles consistently under the accrual basis of accounting.

GILBERT M. FABELLA
Board Cert No. 11499
PTR No. 2644663
January 2, 2002
Manila, Philippines
12 April, 2002

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