March 20, 2000

PSE CIRCULAR FOR BROKERS NO. 715-00

Philippine Stock Exchange
4/F Philippine Stock Exchange Center
PSE Center, Exchange Road
Ortigas Center, Pasig City

Attention: Disclosure Department

Listing and Disclosure Group

Gentlemen :

In compliance with the disclosure requirements of the Exchange, we wish to advise that Mr. Orlando B. Vea has resigned as Director of the Company effective March 15, 2000.

Very truly yours,

PHILIPPINE LONG DISTANCE TELEPHONE COMPANY

(SGD.) MA. LOURDES C. RAUSA-CHAN
Corporate Secretary