PSE Circular for Brokers No. 190-99

February 2, 1999 PSE CIRCULAR FOR BROKERS NO. 190-99 NEW RELEASE FOR SPI TECHNOLOGIES INC. SPI TECHNOLOGIES NAMED ONE OF BEST PHILIPPINE COMPANIES IN ASIAN WALL STREET JOURNAL AND ASIAMONEY SURVEYS Manila, February 1, 1999 Listed exporter SPI Technologies Inc. (Philippine Stock Exchange, ticker symbol "SPI"), a world leader in value added data conversion services, announced that it was cited in a January 1999 survey by The Asian Wall Street Journal, as one of the top stock picks in Asia for 1999. SPI was also named by an Asiamoney December 1998 survey of market analysts, as one of the 15 best managed companies in the Philippines. In The Asian Wall Street Journal's January 11, 1999 survey of fund managers and research analysts entitled "Want Hot Stocks? Think Competitive Edge", SPI was mentioned as one of the two listed companies in the Philippines that best benefited from the Philippines' natural competitive advantages. SPI was identified as benefiting from the country's well-educated English speaking labor force. In Asiamoney's December 1998/January 1999 issue, SPI was voted by market analysts as one of the country's top 15 companies in the "Best Strategy and Management" and "Corporate Strategy," categories. Participants in the survey were asked to take into account several aspects such as market strength, profitability, growth potential, and quality of management and earnings. Ernest Cu, SPI's CEO, said that, "We are pleased that the investment community is beginning to recognize the growth potential of SPI. Strong and growing global demand for data conversion services, and the capabilities of out highly motivated and well-trained work force, are both positive for SPI." SPI was also selected for special mention in late 1998 by two other international news organizations. SPI was cited by TIME magazine in its September 7, 1998 article entitled "Techno Savvy Four Asian Technology Stocks to Watch". The company was also featured by Grant's Asia Observer in its August, 1998 issue, as one of three promising companies in the Philippines' technology sector SPI provides value added data conversion services including: (1) conversion of news, professional and technical information into electronic form for major Internet and online content providers, (2) conversion of legacy document collections into a standardized electronic form usable on corporate intranets or networks, (3) conversion of large collections of evidence-related documents into a searchable CD-ROM format for corporations involved in major litigation, and (4) electronic mapping and database building for utilities. SPI is an ISO 9002 certified exporter whose clients are largely located in North America and Europe. Authenticated by: (SGD.) ERNEST L. CU President & CEO