PSE Circular for Brokers No. 488-00

February 28, 2000 PSE CIRCULAR FOR BROKERS NO. 488-00 February 28, 2000 PHILIPPINE STOCK EXCHANGE 4th Floor, PSE Center Tektite Towers, Exchange Road Pasig City, Metro Manila Attention: Ms. Grace B. de Guia Disclosure Department Gentlemen: This has reference to your letter regarding MacroAsia's Secondary Listing in the Singapore Stock Exchange as reported in today's issue of the Manila Standard. It is true that MacroAsia is eyeing a secondary listing of its shares on the Singapore Stock Exchange, however, what MacroAsia's Board has approved in its February 18, 2000 Board Meeting is the conduct of research on the requirements and the mechanics of the said listing. The final act of listing, pricing, valuation and timing has yet to be presented and approved by the Board. With regard to MacroAsia's talks with the mentioned computer companies, the Company had only exploratory discussions with Oracle, IBM and Computer Associates. However, nothing definite yet has been reached with any of these companies. cdlex Be rest assured that as always, MacroAsia Corporation will always comply with the guidelines pursuant to the Listing and Disclosure Rules per Circular no. 2164-99. Very truly yours, (SGD.) MARIVIC T. MOYA Corporate Information Officer