PSE Circular for Brokers No. 136-00

January 21, 2000 PSE CIRCULAR FOR BROKERS NO. 136-00 SUBJECT : Balabac Resources & Holdings Co., Inc . In response to the Exchange's query regarding a news article captioned "Lucio Tan's group to buy another mining company" published in the January 20, 2000 issue of the Business World which reported that the group of Lucio Tan is reportedly set to acquire dormant oil exploration firm Balabac Resources & Holdings Co., Inc. ("BAL") given plans to list one of its real estate firms in the local bourse; and that Crown Peak Realty Corporation signed a memorandum of agreement with BAL for the purchase of two billion shares at P1 per share, representing 80% of the company, BAL, in its letter clarified that: llcd ". . . the company that has proposed to acquire Balabac is not Crown Equities Peak Corporation, but rather, Round Peak Realty & Development Corporation. . . . In respect to the statement that the group of Lucio Tan is set to acquire Balabac, it is on record that it is Round Peak Realty & Development Corporation that has agreed to subscribe to shares of Balabac. The last time we looked into the records of Round Peak Realty & Development Corporation at the Securities and Exchange Commission, the name of Lucio Tan was nowhere to be found in the records. Accordingly, we do not have any legal basis at this point in time for confirming that Round Peak Realty & Development Corporation is part of the Lucio Tan Group. . . ." LibLex For your information. (SGD.) MARIA ISABEL T. GARCIA OIC, Listings and Disclosure Group