March 24, 2000

PSE CIRCULAR FOR BROKERS NO. 772-00

March 23, 2000

DISCLOSURES GROUP
Philippine Stock Exchange, Inc.
PSE Centre, Exchange Road
Ortigas Center, Pasig, City

Attention: MS. GRACE B. DE GUIA

Assistant Manager

Gentlemen :

Please be advised that in its meeting held today, the Board of Directors of the Corporation has set the annual meeting of the stockholders of the Corporation on May 4, 2000. For this purpose, the stock and transfer books be closed from April 17 to May 4, 2000.

The proposed amendments to the Articles of Incorporation of the Corporation changing the name and the primary purpose of the Corporation to an information and communication technology company and thereby relegating the original primary purpose of the Corporation to one of its secondary purposes shall be submitted for approval of the stockholders in said meeting.

We trust you will find the foregoing in order. Thank you.

Very truly yours,

(SGD.) CORAZON M. BEJASA
Corporate Secretary

(SGD.) JUAN ANTONIO R. LOPEZ
Assistant Manager