March 22, 2000

PSE CIRCULAR FOR BROKERS NO. 738-00

March 21, 2000
Disclosure Department
Listing and Disclosure Group
4/F, Philippine Stock Exchange Center
PSE Center, Exchange Road
Ortigas Center, Pasig City
Fax No. 634-2051

Attention: Ms. Grace B. de Guia

Listing & Disclosure Group

Gentlemen :

We advise that AJO.net Holdings, Inc. ("AJOnet") has made an additional investment of US$200,000.00 in WarpSpeed Communications, Inc. ("WarpSpeed") through Sextant Broadband III, LLC ("Sextant"). Information on WarpSpeed and Sextant was previously disclosed in our letter dated February 14, 2000.

Together with the original investment of US$300,000.00, AJOnet's holding in Sextant Broadband III, LLC now amount to US$500,000.00.

Very truly yours,

(SGD.) ANA MARIA A. KATIGBAK
Asst. Corporate Secretary
(Corporate Information Officer-in-Charge)