PSE Circular for Brokers No. 3053-99

December 1, 1999 PSE CIRCULAR FOR BROKERS NO. 3053-99 November 29, 1999 Disclosure Department Listings and Disclosure Group The Philippine Stock Exchange 4/F Philippine Stock Exchange Center PSE Center, Exchange Road Ortigas Center, Pasig City Fax No. 634-2051 Attention: Ms . Grace de Guia Gentlemen: Please be advised that during their annual meeting today, the stockholders of Acoje Holdings, Inc. (AJO) owning more than 2/3 of the issued capital stock, approved the following: 1. Amendment to the Articles of Incorporation to change the corporate name from Acoje Holdings, Inc. to AJOnet Holdings, Inc., and the location of its principal place of business, from Makati to Metro Manila; cdlex 2. Amendments to the By-Laws, to provide for the creation of an Executive Committee with all the powers of the Board of Directors except those reserved under Section 35 of the Corporation Code, and authorizing the Board to create such other committees as it may determine necessary or desirable; and to change the corporate name as stated in the By-Laws, to conform to the amendment in the Articles of Incorporation on the change of name to AJOnet Holdings, Inc.; and 3. the grant of warrants to Citylite Holdings, Inc., to subscribe to 85,000,000 shares with a par value of P1.00 per share, as previously approved by the Board of Directors and which was the subject of the disclosure made on September 28, 1999. During the said meeting, the following were elected directors for the current year and until their successors shall have been duly elected and qualified in accordance with the By-laws: 1. SIMPLICIO J. ROJAS llcd 2. ANSELMO TRINIDAD; JR 3. SALVADOR C. MARTINEZ 4. ROLANDO S. ATIENZA 5. RONALDO S. SALONGA 6. MIGUEL VARELA 7. MICHAEL L. CHUA The organizational meeting of the Board of Directors was deferred to a later date. ACOJE HOLDINGS, INC. Registrant By: (SGD.) ROBERTO V. SAN JOSE Corporate Secretary (Officer-in-charge)