March 22, 2000

PSE CIRCULAR FOR BROKERS NO. 745-00

March 21, 2000
PHILIPPINE STOCK EXCHANGE, INC.
PSE Centre, Exchange Road
Ortigas Center, Pasig City

Attention: Disclosure Department

Gentlemen :

Please advised that, in a special meeting held early this evening, the Board of Directors of Unioil Resources & Holdings Inc. has deferred its action on the resignation of Mr. John Anthony B. Espiritu as President and Director.

Thank you.

Very truly yours,

UNIOIL RESOURCES & HOLDINGS CO. INC.

By:

(SGD.) NEMESIO R. BRIONES
Corporate Secretary