PSE Circular for Brokers No. 551-00

March 3, 2000 PSE CIRCULAR FOR BROKERS NO. 551-00 March 2, 2000 SECURITIES AND EXCHANGE COMMISSION SEC Building, EDSA, Mandaluyong City FAX No. 7275103 Attention: The Director Money Market Operations Department PHILIPPINE STOCK EXCHANGE, INC. Philippine Stock Exchange Centre Exchange Road, Ortigas Center, Pasig City FAX No. 6342051 Attention : Disclosure Department Listings and Disclosure Group Gentlemen : Please be advised that at the Regular Meeting of the Board of Directors of Interport Resources Corporation held today, Thursday, March 2, 2000 at 12:45 P.M. at the 17th Floor, Wynsum Corporate Center, Emerald Avenue, Pasig City, the following resolution was adopted: RESOLUTION "RESOLVED, as it is hereby resolved, that all outstanding obligations of the corporation as of March 2, 2000 including accrued salaries and allowances of officers and advances from shareholders be converted to equity with the shares to be valued at its marker price on the date of conversion. RESOLVED FURTHER that creditors who are not in favor of conversion shall be paid subject to availability of funds." This report is being submitted to comply with the requirements of the Revised Securities Act regarding publicly-listed companies. Pasig City, March 2, 2000. Very truly yours, (SGD.) RUBEN S. DEL ROSARIO Asst. Corporate Secretary