PSE Circular for Brokers No. 320-00

February 11, 2000 PSE CIRCULAR FOR BROKERS NO. 320-00 SECURITIES AND EXCHANGE COMMISSION 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. 10 February 2000 (Date of earliest event reported) 2. SEC Identification Number 35815 3. BIR Tax Identification No. 000-489-462 4. PILIPINO TELEPHONE CORPORATION Exact name of registrant as specified in its charter 5. PHILIPPINES 6. (SEC Use Only) Province, country or other jurisdiction Industry Classification Code of Incorporation 7 9th Floor Bankers' Centre 1200 6764 Ayala Avenue Postal Code Makati City Address of principal office 8. (632) 891-3888 Registrant's telephone number, including area code 9. N. A. Former name or former address, 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 Licensed and Amount of Debt Outstanding Common Shares 1,688;088,793 common shares Long Term Commercial Papers P1,000,000,000.00 shares 1 11. Indicate the item numbers reported herein: Items 4 and 9 Item 4 - Resignation/Election of Directors/Officers In the meeting of the Board of Directors held on 10 February 2000, Mr. Orlando B. Vea was elected director to fill the vacancy created by the resignation of Mr. Jose P. de Jesus on 31 December 1999. Mr. Vea will assume office effective immediately and for the unexpired term of office of his predecessor. LexLib Item 9 - Other Items Also approved in said meeting is the postponement of the annual meeting of the stockholders of Pilipino Telephone Corporation which is scheduled on the last Wednesday of March (29 March 2000) per the Company's By-Laws. The Board has rescheduled the annual meeting of the stockholders to 5 May 2000, Friday, at 10:00 a.m. and has fixed 7 March 2000 as the record date for the purpose of determining the stockholders entitled to notice of and to vote at said meeting. SIGNATURE 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 hereto duly authorized. PILIPINO TELEPHONE CORPORATION (SGD.) MA. LOURDES C. RAUSA-CHAN Corporate Secretary Footnotes 1. This excludes the subscription of Philippine Global Communications, Inc. (Philcom) to 258,237,558 common shares.