PSE Circular for Brokers No. 1793-99

July 20, 1999 PSE CIRCULAR FOR BROKERS NO. 1793-99 July 19, 1999 PHILIPPINE STOCK EXCHANGE, INC . PSE Center, Exchange Road Ortigas Center, Pasig City Fax No. 634-51-13 Attention: Disclosure Department Listings and Disclosure Group Gentlemen : Please be informed that the Board of Directors of Ebecom Holdings Inc. ("EBECOM") has passed, approved and adopted the following resolutions/actions at a Special Meeting held late this afternoon: LLphil 1. Appointment of the following corporate officers for the year 1999-2000: JOHN ANTHONY B. ESPIRITU President/Chairman MANUEL N. TAN KIAN SEE Vice Chairman RAMON P. EREETA JR. Executive Vice President SANTIAGO S. CUA JR. Treasurer NEMESIO R. BRIONES Corporate Secretary FRANCIS E. BRIONES Assistant Corporate Secretary 2. Increase in the authorized capital stock of EBECOM from P10 Million to up to P5 Billion at par value of P1.00 per share. The Board of Directors authorized EBECOM to offer for subscription shares out of the increase in authorized capital stock to interested parties for cash or in exchange for properties, shares of stock and/or projects at such valuation and terms and conditions as the Board of Directors may deem acceptable and beneficial to EBECOM. For this purpose, the Board of Directors likewise authorized Management through the President, JOHN ANTHONY B. ESPIRITU, to negotiate with interested parties for possible transactions involving subscription to the shares of EBECOM. 3. Amendment of the Seventh Paragraph of the Articles of Incorporation of EBECOM to reflect the increase in authorized capital stock. 4. Holding of a Special Stockholders' Meeting on September 10, 1999, Friday at 2.00 at Makati City to submit for ratification and approval of the stockholders the proposed increase in the authorized capital stock and amendment of the Articles of Incorporation of EBECOM. In accordance with the existing rules of the PSE and the SEC, the Board has fixed August 2, 1999 as record date and closing of corporate books to determine the stockholders who are entitled to notice of and attend the meeting. The Agenda shall be as follows: 1. Call to order 2. Notice and Quorum 3. Approval of the Minutes of the Annual Meeting held on June 30, 1999 4. Increase in authorized capital stock from P10 Million to P5 Billion 5. Amendment of the Seventh Paragraph of the Articles of Incorporation 6. Adjournment EBECOM trusts that it has fully complied with the disclosure requirements of the Exchange. Thank you. LibLex Very truly yours, (SGD.) ATTY. NEMESIO R. BRIONES Corporate Secretary