The Presidential Security Group is "on red alert" because "there are soldiers who got out with weapons like Barrett (long-range guns) and sniper rifles" during the mutiny, unit chief Colonel Delfin Bangit told reporters.

These weapons "can be used for activities like (to) assassinate and kill possible targets. If the president is included in the targets, we do our best to secure our president and we also call upon the public to preserve the presidency."

Interior Secretary Jose Lina said "the assassination has been the subject of an intelligence report" with targets including Arroyo and some other figures.

State prosecutors indicted all 321 soldiers who surrendered peacefully after a 22-hour occupation of the Makati financial district on Sunday.

The government asked a lower court to deny bail to the junior officers and men accused of mounting the siege, which Manila says was part of a larger attempt to unseat Arroyo and replace her with a 15-member junta.

"After a careful evaluation of the uncontroverted evidence on record, we find and so hold that probable cause exists to warrant the indictment of respondents of the crime of coup d'etat," said the charge sheet released by the justice department.

The rebels face life in prison if convicted of the charges, which were filed at a lower court in Makati. The mutineers also face separate court-martial proceedings.

Manila remained on edge Friday with unfounded rumors of rebel units moving toward the capital.

The tension unsettled the capital markets, with the Philippine Stock Exchange composite index closing 0.41 percent lower to 1,235.30 points.

The local currency slipped by seven centavos against the dollar, closing at 54.87 pesos.

Defense Secretary Angelo Reyes dismissed rumors of unauthorized movements of military units, describing them as part of "disinformation" campaign.

Arroyo said she would not give up emergency powers she had assumed to crush the mutiny "until we wrap up the residual threats."

National Security Adviser Roilo Golez warned that the plot was well-funded from outside sources and must have been directed by more senior officers.

The mutineers left behind more than half a million dollars' worth of equipment in Makati and in several staging areas around Manila, he told the Senate during a public hearing on the mutiny.

Aside from the detained soldiers, one cabinet member of detained former president Joseph Estrada's government has also been held and will be charged with rebellion.

Arroyo also plans to prosecute opposition Senator Gregorio Honasan, who had led several coup attempts in the late 1980s.

Both Estrada and Honasan have denied any role in the mutiny. Estrada is on trial for corruption after he was toppled in a military-backed popular revolt in 2001.

Arroyo on Friday warned Congress not to shield Honasan.

"There has been an overt attempt to overthrow the government by force of arms. I ask the members of the legislature not to legitimize a criminal act that unfolded before our very eyes, or to try to impede government efforts to get to the root of the plot," Arroyo said.

Six pro-Arroyo senators asked the body Friday to suspend the public hearings "until the plotters are tracked down and arrested."

The hearings "may impede government efforts to address the rebellion," they said in a statement. The chamber is to decide on the motion on Monday.

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