PSE Circular for Brokers No. 154-00

January 25, 2000 PSE CIRCULAR FOR BROKERS NO. 154-00 1. Date of Report : 24 January 2000 2. SEC Identification Number : AS 092-000589 3. BIR Tax Identification No. : 001-817-292 4. Exact name of registrant as specified in its charter : MUSIC CORPORATION 5. Province, Country or other Jurisdiction or incorporation or organization : Canlubang, Laguna, Philippines 6. Industrial Classification Code : (SEC Use Only) 7. Address of Principal Office : Lot 8 Phase IIB, SEPZ 1, Carmelray Industrial Park, Canlubang, Laguna 8. Registrant's telephone No., area code : (49) 549-1480 9. There have been no changes to our name, address and fiscal year, since our last report 10. Are any or all of these securities listed on the Philippine Stock Exchange. Yes [x] No [ ] All issued and outstanding securities are listed in the Philippine Stock Exchange. Part I Other Matters Please refer to the attached text of a press statement forwarded to us by our affiliate Music.com, Inc. With this investment Music.com, Inc.'s equity investors own an aggregate of 21.87% of the internet company. MUSIC Corporation together with the interest of its shareholders of record as of 09 July 1999 who are entitled to Music.com Warrants hold the remaining 75.94%, with MUSIC Corporation maintaining it's ownership at 19.9%. SIGNATURES Pursuant to the requirements of Section 11 of the RSA and Section 141 of the Corporation Code, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, in Canlubang, Laguna. MUSIC Corporation Issuer (SGD.) MITOS TANTUICO-ZSHORNACK VP for Corporate Affairs MUSIC.COM SECURES US$6 MILLION INVESTMENT FOR FUTURE GROWTH Citicorp Capital Asia Ltd. CEO John H. McLean Appointed to Music.com Board Music.com, the premier full service music website, has secured an equity investment from Citicorp Capital Asia Limited, a unit of Citigroup, to fund its expansion plans. Philippe Bellosguardo, President and CEO of Music.com announced Citigroup has spearheaded a direct equity investment in Music.com along with two other private funds, for a total of US$6 million financing. John McLean, CEO of Citicorp Capital Asia Limited, has been appointed to Music.com's Board of Directors, which includes prominent personalities from the music and internet industries. prcd Mr. McLean said "Citigroup has a strong global strategy and franchise. We invest across a diverse range of industries, but we recognize the strong potential for hi-tech and Internet ventures. Music.com is a well established website, and its global vision and potential fits our investment strategy." Mr. Bellosguardo added "Music.com, with its powerful URL, strategy and networking within the music and Internet industries, has been eliciting tremendous interest since its inception. Although we have been approached by several potential financing and strategic partner, we are very careful in selecting such partners to ensure support to our global expansion plans." Music.com has also appointed Salomon Smith Barney, the premier investment band and a unit of Citigroup, as its financial advisor for raising future financing. Music.com (www.music.com) along with its business partners, operates an Internet site providing aggregator and gateway services to the consumer (B2C) and professional music industry (B2B). First launched in October 1998, traffic to the site has increased over 500% and continues climbing at an increasing rate. Acting more than just a music information site, music downloading site or music portal, the Music.com site covers all aspects and genres of music, including today's biggest and upcoming acts and is host to artistes web sites, reviews, features, contests, chats, free e-mail, and other music related information. Citicorp Capital Asia Limited is the private equity investment arm of Citigroup in Asia. It is responsible for the investment of close to $0.5 billion of Citigroup's proprietary funds, and invests in companies belonging to a range of industries, including hi-tech and Internet ventures. For more information, please contact Chris Bergen, Artist and PR Manager, Music.com, 973-540-9999. cdll