n\a

March 17, 2000PSE CIRCULAR FOR BROKERS NO. 700-00MS. LUISA W BUENAVENTURASupervisor, Disclosure DepartmentPhilippine Stock Exchange, Inc.PSE Center, Pasig CityVia Fax: 636-0809Dear Ms. Buenaventura,In reply to your letter dated 17 March 2000 regarding the Philippine Daily Inquirer's report of Apex tie-up with Siemens, copy of which we received by fax transmission, please be advised that the management of Apex Mining Co., Inc. vehemently denies such thing. The company, its directors and officers have no knowledge of today's press release and have not talked with Siemens or any of its representatives. Thank you.Very truly yours,(SGD.) ERIC R. TAGLESpecial Assistant to the President