PSE Circular for Brokers No. 668-00

March 15, 2000 PSE CIRCULAR FOR BROKERS NO. 668-00 March 14, 2000 Disclosure Department Listing and Disclosure Group 4/F, Philippine Stock Exchange Center PSE Center, Exchange Road Ortigas Center, Pasig City FAX .NO: 6360-809/634-2051 Attention: Ms . Grace B . De Guia Asst . Manager Gentlemen : We wish to advise you that PhilWeb.Com, Inc. has entered into an agreement to form a strategic partnership with Net2Phone. The details of the said agreement are set forth in the enclosed announcement. We also wish to advise you that Mr. Roberto O. Valdes has been designated by PhilWeb.Com, Inc. as Assistant Corporate Information Officer for purposes of making disclosures to the Philippine Stock Exchange, in addition to those previously designated, namely: the undersigned as Corporate Information Officer and Atty. Ana Margarita A. Katigbak as Officer-in-Charge. Very truly yours, (SGD.) ROBERTO V. SAN JOSE Corporate Information Officer PhilWeb Forms Strategic Partnership with Net2Phone PhilWeb Com, Inc. today announced that it successfully concluded an agreement with Net2Phone, the company recognized to have first bridged the gap between the Internet and the public switched telephone network. cdll Net2Phone, a publicly-listed (NASDAQ; NTOP) technology firm, with headquarters in Hackensack, New Jersey, and a market capitalization in excess of US$ 3 billion, is one of the investee companies of Softbank, the world's largest internet venture capital enterprise, which only recently announced a significant investment stake in PhilWeb.Com. Alex Villamar, President of PhilWeb.Com, said "the investment of Softbank in our company no doubt paved the way for the smooth negotiations that resulted in the agreement to establish a strategic partnership with Net2Phone. We are delighted at this continuing vote of confidence to make PhilWeb.Com the partner of choice of Internet companies around the world." Net2Phone, with a global market share estimated at 39% in Internet telephony minutes, is a leading provider of voice-enhanced Internet communications services to individuals and businesses. Its products include N2PV.10, the world's first PC to Phone service. N2P Business Solutions, a hardware/software Internet solution for enterprise customers and Easysurf.Com, the first e-commerce shopping portal powered by IP telephony. With the strategic partnership, PhilWeb.Com will now be positioned to incorporate Net2Phone's Internet-powered solutions to further enhance PhilWeb's suite of products and services for web-enabled individuals and enterprises. The strategic partnership with Net2Phone is the sixth partnership agreement concluded by PhilWeb in the less than 2 months of its existence. cdll