Alliance Global, Inc. Final Offer Price and Use of Proceeds

March 9, 1999 PSE CIRCULAR FOR BROKERS NO. 432-99 SUBJECT : Alliance Global, Inc. Final Offer Price and Use of Proceeds EXECUTIVE SUMMARY Further to Circular No. 350-99 dated. February 25, 1999, please be informed of the final offer price and use of proceeds pertaining to the Initial Public Offering of Alliance Global, Inc. (the "Company"), to wit: OFFER PRICE P1.27 per share USE OF PROCEEDS The net proceeds to the Company is estimated to be P102 million after deducting expenses payable by the Company. The net proceeds will be used to finance the rehabilitation of the Company's Furnace 1 which was previously acquired in 1994. The difference between the estimated cost for the rehabilitation project and the net proceeds from the IPO will be sourced by the Company from internally generated funds. Details of the use of net proceeds from the Offer will be applied as follows: Estimated Project Cost: Acquisition of new equipment Air compressor and motor controls P6.00 million Rehabilitation of existing equipment 70 MT Furnace 104.00 million Annealing lehr 9.00 million Individual Section machine with feeder 31.00 million Total Project Cost P150.00 million Gross Proceeds from the Offer P111.76 million Underwriting fees 3.35 million Other expenses 6.41 million Net Proceeds P102.00 million For your information and guidance. (SGD.) JOSE LUIS U. YULO, JR. President & CEO