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March 22, 2000PSE CIRCULAR FOR BROKERS NO. 745-00March 21, 2000PHILIPPINE STOCK EXCHANGE, INC.PSE Centre, Exchange RoadOrtigas Center, Pasig CityAttention: Disclosure DepartmentGentlemen :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. BRIONESCorporate Secretary