PSE Circular for Brokers No. 578-00

March 7, 2000 PSE CIRCULAR FOR BROKERS NO. 578-00 SECURITIES AND EXCHANGE COMMISSION SEC FORM 11-C CURRENT REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND RSA RULE 11 (a)-1(b)(3) THEREUNDER 1. March 6, 2000 Date of Report (Date of earliest event Reported) 2. SEC Identification Number CE-02536 3. BIR TIN 003-828-269 V 4. ABOITIZ EQUITY VENTURES, INC. Exact name of registrant as specified in its charter 5. Cebu City, Philippines 6. Province, country or other jurisdiction Industry Classification Code of incorporation 7. Archbishop Reyes Ave-Banilad, Cebu City 6000 Address of principal office Postal Code 8. (032) 2310-705 Registrant s telephone number, including area code 9. N.A. Former name or former address, if changed since last report 10. Securities registered pursuant to Sections 4 and 8 of the RSA Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding Common Stock P1 Par Value 5,356,434,976 'Total Liabilities 3,403,325,000 11. Indicate the item numbers reported herein: Item 9. 1) The Board of Directors of Aboitiz Equity Ventures approved at its special meeting held on March 6, 2000, the following resolution on the participation and submission for qualification of the project proposals and bids for the Bohol Electric System: "Resolved, as it is hereby resolved, that the participation and submission for Qualification of the Project Proposals and Bids for the Bohol Electric System in accordance with the Tender Documents for the Rehabilitate. Own and Operate (hereinafter "ROO") Agreement/Project for the Bohol Provincial Electric System, by the Corporation be, as it is hereby is authorized. "Resolved, further, that any one (1) of the following officers, namely: 1. Mr. Jon Ramon Aboitiz 2. Mr. Erramon I. Aboitiz 3. Mr. Joel Mari Yu be, as he is hereby authorized, to negotiate, enter into, execute or sign for and behalf of the Corporation, the aforementioned documents, such as the Project Proposal, Bid Proposal Letter, documents pertaining to the Technical Expertise and Financial Capability of the Corporation, Technical Proposal and Financial Proposal as well as all other proposals, instruments, papers, forms, letters, correspondences or documents necessary, related or incidental thereto." Additional Information : Should the Corporation win the bid for the Bohol Provincial Electric System, it would entail 70% ownership of a distribution utility with 42,821,000 kilowatt hours sold in 1999. Based on beneficial ownership, that would represent a potential addition to AEV's electricity distribution holdings of about 3% based on volume sales. We cannot determine the full financial impact until the terms and conditions of an awarded winning bid are finalized. SIGNATURE(S) Pursuant to the requirements of the Revised Securities Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. LexLib Aboitiz Equity Ventures By: (SGD.) SYLVA A. PADERANGA Asst. Corporate Secretary