Armstrong Holdings, Inc.

September 20, 1999 PSE CIRCULAR FOR BROKERS NO. 2355-99 Posted September 20, 1999 SUBJECT : Armstrong Holdings, Inc . Further to Circular No. 2240-99 dated September 8, 1999 in connection with Mr. Dante Tan's acquisition of 59% equity of Armstrong Holdings, Inc. ("AHI"), AHI furnished the Exchange a copy of its SEC Form 33-A (Initial Filing of Tender Offer Report) for the purchase of shares of other shareholders of the company who wish to dispose of their holdings in AHI. The Tender Offer is being made by Mr. Dante Tan, currently Chairman, President and Chief Executive Officer of Best World Gaming & Entertainment Corporation and Right Ways Rubber Manufacturing Corporation. Mr. Tan has recently purchased 107,000,000 AHI shares equivalent to approximately 59% of the total issued and outstanding capital stock of AHI. He intends to make AHI the holding firm of his investments. Mr. Tan is offering to purchase all of the existing shares of the company, at a tender offer price of Php2.75 per share. Existing shareholders of record are invited to tender their shares for acceptance and purchase beginning 9:00 a.m. on Friday, September 17, 1999 until 5:00 p.m. on Friday, October 15, 1999. Attached is a copy of the Notice to Stockholders in connection with the said tender offer. A copy of AHl's SEC Form 33-A is available for reference at the PSE Centre and PSE-Plaza Libraries. For your information. llcd (SGD.) JOSE LUIS U. YULO, JR. President and CEO ARMSTRONG HOLDINGS INCORPORATED Notice to Stockholders TENDER OFFER FOR EXISTING SHARES Mr. Dante Tan has today commenced a tender offer to acquire all existing shares of Armstrong Holdings Incorporated (AHI) with a par-value of Php 1.00 per share, at a firm tender offer price of P2.75 per share (the Tender Offer). Mr. Tan has filed with the Securities and Exchange Commission (the SEC) the Tender Offer Report (SEC Form 33-A) containing all the information required under Sec. 33 of the Revised Securities Act, including the terms and conditions of this tender offer. Existing shareholders of record of AHI shares are hereby invited to tender their shares for acceptance and purchase by Mr. Tan beginning 9:00 a.m. on Friday, September 17, 1999 until 5:00 p.m. on Friday, October 15, 1999 (the Tender Offer Period) by submitting an accomplished tender offer application form (The Application Form) with all the required documents to Equitable PCI Bank at 3rd Floor, EBC Building, Juan Luna Street, Binondo, Manila. The Tender Offer Period may be extended by Mr. Tan at its discretion. Should Mr. Tan decide to extend the Tender Offer Period, the appropriate notices will be published and/or sent to stockholders of AHI prior to the end of the original Tender Offer Period. Tendering stockholders of AHI will have a right to withdraw any shares tendered at any time during the Tender Offer Period. The withdrawal of previously tendered shares may be made by submitting a written notice of withdrawal to Equitable PCI Bank. prcd Interested shareholders may obtain copies of the Tender Offer Report (SEC Form 33-A), she terms and conditions of the Tender Offer and the Application Form from Equitable PCI Bank. Requests for such copies and for further information regarding the tender offer may be directed to Equitable PCI Bank for the attention of Mr. Rolando Esguerra. CHRISTINE P. BASE