South Seas Natural Resources, Inc.

February 15, 2000 PSE CIRCULAR FOR BROKERS NO. 365-00 SUBJECT : South Seas Natural Resources, Inc . South Seas Natural Resources, Inc. ("SSO") informed the Exchange that the Securities and Exchange Commission (SEC) approved on February 8, 2000 its Amended Articles of Incorporation reflecting the following: 1. Article 1 Changing the corporate name from South Seas Natural Resources, Inc. to PhilWeb.Com, Inc.; 2. Article 2 Changing the primary purpose from a mining company to the internet business and relegating the original primary purpose to one of the secondary purposes; 3. Article 6 Increase in the number of directors from nine (9) to fifteen (15); 4. Article 8 Restating and clarifying the denial of pre-emptive rights. With the effectivity of the amendments, the directors of the Company as elected during the annual stockholders' meeting of January 18, 2000, are the following: Roberto V. Ongpin Chairman Jaime C. Gonzales Vice Chairman Alex S. Villamar President Ronald Arculli Nora A. Bitong Pilar S. Cayetano K.B. Fung George L. Go Mario J. Locsin Consuelo Madrigal Thomas Tang Vivian Yuchengco Jesus Cabarrus, Jr. Jose Miguel Cabarrus Jose Mari Moraza Furthermore, the SEC approved on the same date the Corporation's new By-Laws. With the approval of the new By-Laws, the creation of the Executive Committee as approved by the resolution of the Board of Directors on January 18, 2000, becomes effective. The Executive Committee is composed of the following: Roberto V. Ongpin Jaime C. Gonzales Alex S. Villamar With regard to the status of the old stock certificates, SSO informed the Exchange that: ". . . Please be advised that certificates bearing the old name will be honored and used for trading. . . ." In view thereof, the change in name of the Corporation to PhilWeb.Com, Inc . and its stock trading symbol to "PWEB" , as well as the change in its sector to "Commercial and Industrial" under "Communications" , will be reflected in the Exchange's computer system (electronic board and ticker) on Thursday, February 17, 2000. LibLex For your information. (SGD.) MARIA ISABEL T. GARCIA OIC, Listings & Disclosure Group