PSE Circular for Brokers No. 006-00

January 3, 2000 PSE CIRCULAR FOR BROKERS NO. 006-00 PLDT HURDLES Y2K TESTS PLDT Systems All OK PLDT reported that no failure or "Y2K event" occurred in its telecommunications systems during the country's transition to the new millennium on January 1, 2000 and everything went well as planned. "PLDT's Y2K plans and long period of preparation have paid off," PLDT President and Chief Executive Officer Manuel V. Pangilinan said. He said PLDT Readiness Center has been actively monitoring both the national and international situations since the early afternoon of December 31, 1999. "We have been monitoring our international gateways, international and national transmission systems, national switches as well as our power systems and no problem whatsoever was encountered," Pangilinan said. As of press time, PLDT has already successfully completed communications transmission with its major telecommunications partners in New Zealand, Australia, Indonesia and Japan, all of which are now into the year 2000. PLDT is also in constant coordination with the National Y2K Task Force and principal agencies like the National Telecommunications Commission. cdlex Pangilinan attributed PLDT's successful hurdling of the Y2K problem to the more than two years it devoted to the program, including six months of contingency planning and preparation of its Readiness Center, at a budget of $120 million.