PSE Circular for Brokers No. 445-00

February 23, 2000 PSE CIRCULAR FOR BROKERS NO. 445-00 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. 22 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 1 Long Term Commercial Papers P1,000,000,000.00 shares 11. Indicate the item numbers reported herein: Item 4 Item 4 Resignation, Removal or Election of Directors/Officers Resignation of Director Mr Roberto V. Ongpin resigned as director of the Corporation effective February 22, 2000. His resignation is not anticipated to have a material Impact on the Company's current or future operations nor have any impact on its financial position or results of operation. 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.