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Ionics Circuits, Inc.

PSE Circular for Brokers No. 452-98 • Philippine Stock Exchange • Circulars for Brokers • Mar 24, 1998

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March 24, 1998 PSE CIRCULAR FOR BROKERS NO. 452-98 SUBJECT : Ionics Circuits, Inc. Ionics Circuits, Inc. ("ION") informed the Exchange in a letter dated March 20, 1998 that its Board of Directors, in a meeting held on even date, approved, among others, the following: 1. The declaration of a cash dividend equivalent to Fifteen Centavos (P0 . 15) per share, or an aggregate amount of Sixty Four Million Four Hundred Fifty-three Thousand One Hundred Twenty-five Pesos (P64,453,125 . 00) , from the company's unrestricted retained earnings as of December 31, 1997, to stockholders of record as of April 7, 1998 ; and 2. The investment in SiRF Technology, Inc. ("SiRF") of One Million Two Hundred Thousand United States Dollars (US$1,2000,000.00). SiRF is a U.S. company engaged in providing Global Positioning System (GPS) technology and other wireless innovations for consumer applications. asiadc For your information. (SGD.) MA. ISABEL T. GARCIA Head, Listing and Disclosures Group CASH DIVIDEND CASH P0.15 per share EX-CASH April 1, 1998 RECORD DATE April 7, 1998 DATE PAYABLE to be announced

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