PSE Circular for Brokers No. 537-00

March 2, 2000 PSE CIRCULAR FOR BROKERS NO. 537-00 March 1, 2000 Disclosure Department Listing and Disclosure Group 4/F Philippine Stock Exchange Center PSE Center, Exchange Road Ortigas Center, Pasig, City Fax No. 6342051 Attention: Ms. Grace B. De Guia Listing & Disclosure Group Gentlemen : Please be advised that at its special meeting held today, the Board of Directors of AJO.net Holdings, Inc. (the "Corporation") elected Mr. Rey Buzon as director and President of the Corporation, to serve as such beginning April 1, 2000, as replacement of Mr. Salvador C. Martinez who has resigned effective March 1, 2000. In the meantime, Mr. Anselmo Trinidad, Jr., Vice-Chairman of the Board of Directors, was designated Acting President of the Corporation, to serve as such beginning March 1, 2000 until March 31 2000. Mr. Rey Buzon (29 years old) has 12 years of extensive experience in areas directly related to internet technology in the USA. He has held positions as Program Manager of CompuCom Systems, Inc. in the USA whose major accounts include Cisco Systems, Inc. He gained his early technical background while doing service for the United States Marine Corps as Tactical Communications Specialist. Mr. Buzon's abilities are complemented by the skills and experience of Mr. Chito Bustamante who recently joined the Corporation. Mr. Chito Bustamante, who also was formerly connected with CompuCom Systems, Inc. as Systems Engineer, is responsible for evaluating the technical aspects of the Corporation's incubation projects and the operations of investee companies. At the same meeting, the hiring of additional technical personnel to strengthen the Corporation's "incubator-accelerator" proficiency vis-a-vis its domestic investee companies and start-up projects, was likewise approved, granting Mr. Anselmo Trinidad, Jr., the Acting President, the authority to look for and to hire such technical personnel under such terms and conditions as he may deem necessary or proper. Very truly yours, (SGD.) ANA MARIA A. KATIGBAK Asst. Corporate Secretary (Corporate Information Officer-in Charge)