PSE Circular for Brokers No. 506-00

February 29, 2000 PSE CIRCULAR FOR BROKERS NO. 506-00 February 28, 2000 Disclosure Department Listings and Disclosure Group The Philippine Stock Exchange 4/F Philippine Stock Exchange Center PSE Center, Exchange Road Ortigas Center, Pasig City; Fax No. 634-2051 Attention: Ms. Grace de Guia Gentlemen: Please be informed that Mabuhay Holdings Corporation ("Mabuhay") has subscribed to 3,703,704 Series A Preferred shares of stock of Ezyhealth Asia Pacific Pte. Ltd. ("Ezyhealth"), a Singaporean company, at the subscription price of Singapore Dollars: One Million (S$1,000,000.00), which is roughly equivalent to Philippine Pesos: 24 Million, or at $0.27 per share. Ezyhealth owns and operates ezyhealth.com , a vertical internet portal for medical, healthcare, fitness and beauty related contents which focuses on building online communities among healthcare professionals and the public, as well as online interaction between such communities. Likewise, Mabuhay entered into a non-binding Memorandum of Understanding (MOU) with Ezyhealth for the formation of a joint venture company, to be owned 51% by Ezyhealth and 49% by Mabuhay, to undertake internet healthcare portal and communities for doctors and the public in the Philippines. While acknowledging the MOU to be not legally binding between them, the parties agreed to enter into a definitive agreement for the joint venture as soon as possible. Very truly yours, (SGD.) DELFIN P. ANGCAO Corporate Secretary/ Corporate Information Officer (CIO)