Philippine Stock Exchange

February 18, 1998 PSE CIRCULAR FOR BROKERS NO. 144-98 PHILIPPINE STOCK EXCHANGE Compliance Monitoring Dept.-Listings Group PSE Center, Exchange Road Ortigas Center, Pasig City Metro Manila Gentlemen : We refer to your fax letter dated February 16, 1998 relative to the news article published in the Manila Times on February 14, 1998 captioned "Orient Bank Declares Holiday" and the reported information about "Orient Bank owner, Mr. Jose C. Go" who is concurrently the president of Ever-Gotesco Resources Holdings, Inc., ("EVER"). Please be informed that the undersigned is not privy to the corporate records of Orient Bank, hence cannot provide a "profile" of Orient Bank showing its relationship to EVER. My knowledge is limited to the fact that Mr. Jose C. Go is a stockholder of Orient Bank, who also happens to be a stockholder and Chairman/President of EVER. Thank you. Very truly yours, (SGD.) VICENTE VILLA CAONEO Corporate Secretary