PSE Circular for Brokers No. 200-98

February 24, 1998 PSE CIRCULAR FOR BROKERS NO. 200-98 SEC FORM 11-C CURRENT REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND RSA RULE 11(a)-1(b)(3) THEREUNDER 1. Date of Report February 20 1998 2. SEC Identification Number 10020 3. BIR Tax Identification No. 000-596-509 4. Exact name of registrant as specified in its charter EBECOM HOLDINGS, INC. 5. Philippines 6. Holding Company Province, Country or other jurisdiction Industry Classification Code: of incorporation or organization 7. c/o Westmont Investment Corporation Westmont Bank Building, 411 Quintin Paredes St., Binondo, Manila ___________________ Address of principal office Postal Code 8. 243-32-52 Registrant's telephone number, including area code 9. ____________________________________________________________ Former name, former address, and former fiscal year, if changed since last report. 10. Securities registered pursuant to Sections 4 and 8 of the RSA. Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding Common 886,013,716 11. Indicate the item numbers reported herein Items 4 & 9 Item 4. Resignation, Removal or Election of Registrant's Directors or Officers Mr. Solomon S. Cua has tendered his resignation as Corporate Secretary of Ebecom Holdings, Inc. (the "Corporation") effective February 18, 1998. At the special meeting held on February 18, 1998, the Board of Directors of the Corporation appointed Messrs. Nemesio R. Briones and Francis E. Orea as the new Corporate Secretary and Assistant Corporate Secretary, respectively, effective February 18, 1998. aisadc Item 9. Other Events At the same Board meeting held on February 18, 1998, the Board of Directors resolved to withdraw from the Memorandum of Agreement of March 20, 1997 (Property for Equity Swap among Philippine Racing Club, Inc., Sta. Lucia Realty and Development, Inc., ACL Development Corporation and Central Vegetable Oil Company as subscribers-assignors and Ebecom Holdings, Inc. as assignee-issuer) due to the current economic situation and as per the advice of the Corporation's financial advisor. The Board of Directors further authorized Management to now proceed to negotiate with any other interested parties for possible business investment opportunities including the development of the Corporation's own properties in Cavite. SIGNATURES Pursuant to the requirements of the Revised Securities Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. EBECOM HOLDINGS, INC. Registrant Date: February 20, 1998 (SGD.) NEMESIO R. BRIONES Corporate Secretary