Current Report Under Section 11 of the Revised Securities Act (RSA) and RSA Rule 11(A)-1(B)(3) Thereunder

March 9, 2000 PSE CIRCULAR FOR BROKERS NO. 609-00 SECURITIES & 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 9, 2000 Date of Report (Date of earliest event reported) 2. SEC Identification Number 17514 3. BIR TIN 320-000-599-760 4. RIZAL COMMERCIAL BANKING CORPORATION Exact name of registrant as specified in its charter 5. Philippines 6. (SEC Use only) Province, country or other Industry Classification Code jurisdiction of incorporation 7. 333 Sen. Gil J. Puyat Ave., Makati City 0727 Address of principal office Postal Code 8. 894-9000 Registrant's telephone number, including area code 9. Not Applicable Former name or former address, if charged since last report 10. Securities registered pursuant to Sections 4 and 8 of the RSA Number of Shares of Common Stock Title of Each Class Outstanding and Amt. of Debt O/S Common Stock, P10.00 par value 432,964,018 (as of 3/9/00) 11. Indicate the item numbers reported herein: Item 9 Item 9 (a)(1)(J). Purchase of stock. In pursuance of the AEV shares buy-back program approved by the Board of Directors, the Corporation has purchased the following additional shares of AEV. Date # of shares U. Price Total Value March 8, 2000 300,000 P1.90 P570,000.00 Additional Information The Board approved a program to buy-back shares. The amount and timing of the buyback program was left to management, specifically the CEO and COO. The rationale for the buyback, which was that market prices did not reflect the true value of the shares, and therefore remaining shareholders would benefit from a buyback into treasury that reduced the number of outstanding shares, also provides the guidelines for the actual share purchases. The principal criteria is that it benefits remaining shareholders. Under that guideline, the company would only buyback shares when it believed the share price was undervalued, and that the cash expenditure for the buyback did not jeopardize prospective projects of the company. cdlex SIGNATURES Pursuant to the requirements of the Revised Securities Act, the registrant has duly caused this report to be singed on its behalf by the undersigned hereunto duly authorized. ABOITIZ EQUITY VENTURES, INC. By: (SGD.) SYLVA A. PADERANGA Asst . Corporate Secretary SUBSCRIBED AND SWORN to before me this March 9, 2000 in Cebu City, affiant exhibited to me her Community Tax Certificate No. 3754758 issued on February 16, 1999 in Cebu City. cdll Doc. No. 50 Page No. 11 Book No. VI Series of 2000