Grace de Guia

March 17, 2000 PSE CIRCULAR FOR BROKERS NO. 693-00 March 16, 2000 Philippine Stock Exchange, Inc . Disclosure Department Listings and Disclosure Group PSE Center, Exchange Road Ortigas Center, Pasig City RE : Grace de Guia Gentlemen : RFM Corporation President and CEO Jose Ma. A. Concepcion III is hereby disclosing the initial public offering today of PSi Technologies Holdings, Inc. of 3,500,000 shares of its common stock at $16 per share. The shares will be trading under the ticker "PSIT" on the Nasdaq Stock Exchange. All of the shares were offered by PSi Technologies Holdings, Inc. Chase H&Q lead-managed the underwriting of the offering with Robertson Stephens and Thomas Weisel Partners serving as co-managers. The representatives of the underwriters have the option of purchasing an additional 525,000 shares to cover over-allotments. PSi Technologies Holdings, Inc. is the first Philippine company to be listed on the Nasdaq. The Company is a focused independent semiconductor assembly and test service provider to the power semiconductor market. PSi Technologies provides comprehensive package design, assembly and test services for power semiconductors used in telecommunications and networking systems, computer peripherals, consumer electronics, electronic office equipment, automotive systems, and industrial products. In step with the industry trend toward outsourcing, semiconductor manufacturer customers look to PSi Technologies for cost savings and other strategic advantages. The company was formerly a majority-owned subsidiary of RFM Corporation and after completion of this offering, RFM will hold approximately 4.7 million shares, or approximately 37% of PSi Technologies' common stock Concepcion will continue to be the Chairman of the company, with Arthur Young, Jr. as President and CEO. The Corporation's Disclosure Officer, Mr. Bach Johann Sebastian, is out of the country and will be unable to sign this disclosure. Thank you. Very truly yours, (SGD.) ATTY. CRISTINA D. REYES Asst. Corporate Secretary