Appointment of Chief Executive Officer SPI Technologies Inc.

September 25, 1998 PSE CIRCULAR FOR BROKERS NO. 2228-98 APPOINTMENT OF CHIEF EXECUTIVE OFFICER SPI TECHNOLOGIES INC . Manila, September 25, 1998. SPI Technologies Inc. (SPI) Chairman and Chief Executive Officer, Alan Fraser (61), retires from his position as CEO on September 30, 1998 after nearly 19 years with the Company. He will be replaced by SPI President Ernest Cu (38). LexLib Ernest Cu, an MBA graduate of the J. L. Kellogg Graduate School of Management, Northwestern University, and an industrial management graduate of De La Salle University; has been with SPI for one year. Prior to joining SPI, he was most recently Vice President and Chief Financial Officer of Crestec Los Angeles Inc., a U.S. document engineering firm, and joined SPI with 12 years U.S. experience in marketing and general management within the graphics art industry, with significant success in electronic publishing and business development. As SPI President, he was responsible for the professional redevelopment of SPI's pre-press operations in the Netherlands and the Philippines, and for the January 1998 acquisition of Pacific Data Conversion Corporation in the U.S., now a subsidiary of SPI. Alan Fraser, SPI founder, said: "I am extremely pleased that Ernest Cu will take over the role of Chief Executive Officer of SPI. We have been working together closely for this transition for 12 months, and I am fully confident that SPI's future success will be significantly for the better, as a result of this change at the top." Fraser is expected to remain on the SPI Board. Authenticated by: (SGD.) ALAN FRASER Chairman & CEO SPI Technologies Inc .