EXCLUDING FROM THE OPERATION OF PROCLAMATION NO. 687 DATED JULY 15, 1960, WHICH ESTABLISHED THE RELOCATION SITE RESERVATION FOR INDIGENT SQUATTERS, FLOOD VICTIMS AND OTHER INDIGENTS OF GREATER MANILA, CERTAIN PORTIONS OF THE LAND EMBRACED THEREIN AND DECLARING THE SAME OPEN TO DISPOSITION IN ACCORDANCE WITH THE PROVISIONS OF REPUBLIC ACT NUMBERED FOUR HUNDRED AND SEVENTY SEVEN.