PSE Circular for Brokers No. 579-00

March 8, 2000 PSE CIRCULAR FOR BROKERS NO. 579-00 March 6, 2000 Listings and Disclosure Group Philippine Stock Exchange 4/F Philippine Stock Exchange Center PSE Center, Exchange Road Ortigas Center, Pasig City Attention : Ms . Grace B . De Guia Assistant Manager Disclosure Department Gentlemen : We refer to your facsimile letter dated 6 March 2000 requesting clarification on the news article captioned "Guoco Holdings expecting two new investors" published in today's issue of the Business World. We confirm that Guoco Holdings (Philippines). Inc. (GHPI) is negotiating with certain investors on its planned capital raising exercises. However, no agreement has been reached todate. With regard to the report on Mr. Li Ka Shing, we note that it did not refer to GHPI but to its affiliate. Cyber Bay Corporation. Hence, GHPI has no knowledge of the same. Finally, as to the report that GHPI will likely join the ongoing Internet bandwagon, we wish to advise that, like many other companies, and given GHPI's diversified production range, its large consumer base and its international linkages, GHPI is finding ways to improve its operations and those of its subsidiaries affiliates. We trust we have clarified the subject news article. cdll Very truly yours, GUOCO HOLDINGS (PHILIPPINES), INC. By: (SGD.) DAISY L. PARKER Corporate Secretary