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March 27, 2000PSE CIRCULAR FOR BROKERS NO. 790-00PHILIPPINE STOCK EXCHANGEDisclosure DepartmentListing & Disclosure Group4th Floor, Phil. Stock Exchange CentreOrtigas Center, Pasig CityAttention: Ms. Luisa W. BuenaventuraSupervisor, Disclosure DepartmentGentlemen:We reply to your request for clarification on the news item captioned "Danding's DOLE deal" which appeared in the March 24, 2000 issue of the Philippine Daily Inquirer.As of the moment we are interested in acquiring a stake in DOLE Food Co., but there are no definitive matters to disclose. CSIDTcVery truly yours,(SGD.) FERDINAND K CONSTANTINOCorporate Information Officer