PSE Circular for Brokers No. 720-00

March 21, 2000 PSE CIRCULAR FOR BROKERS NO. 720-00 Disclosure Department Listing and Disclosure Group 4/F, Philippine Stock Exchange Center PSE Center, Exchange Road Ortigas Center, Pasig City FAX NO: 636-0809/634 2051 Attention : Ms. Grace B. de Guia Asst. Manager Gentlemen : We wish to announce that Messrs. Sheridan M. Tatsuno and Alan R. Batkin have agreed to join the Board of Directors of PhilWeb.Com, Inc. (PhilWeb) and will be elected at its next meeting scheduled on March 27, 2000. The two new directors will replace Ms. Vivian Yuchengco, who resigned from the Board upon her election as Governor of the Philippine Stock Exchange and Pilar S. Cayetano, who has been designated General Counsel and Assistant Corporate Secretary of PhilWeb. Mr. Tatsuno is one of the internet pioneers of Silicon Valley and is an acknowledged authority on e-business. He is President of Dreamscape Ventures, an e-business virtual incubator In addition to joining the Board of PhilWeb, Mr. Tatsuno has also been designated as Chief Technology Consultant for PhilWeb, based in Silicon Valley. His resume is attached. Mr. Batkin is President and CEO of Orama Partners, Inc. an investment bank specializing in hi-tech companies Many of the leading high tech companies in the world are investors in Orama Partners, Inc., including Compaq, Softbank, Lucent, Siemens, Pacific Century Cyberworks, Vulcan Ventures (Paul Allen) and Craig McCaw. Mr. Batkin is also Vice Chairman of Henry Kissinger Associates, Inc. Previously, he was Managing Director of Lehman Brothers, Inc., a major U.S. investment bank. Mr. Batkin is in close contact with the leading CEO's of major internet firms and will help open doors for PhilWeb.Com in the U.S. and elsewhere in the world. His resume is enclosed. Very truly yours, (SGD.) ROBERTO V. SAN JOSE Corporate Information Officer SHERIDAN M . TATSUNO Sheridan Tatsuno is the President of Dreamscape Ventures, an internet firm specializing in multimedia applications and electronic commerce, and a virtual incubator for E-business ventures and startups. He has consulted with Top Fortune 2000 companies worldwide, including AMD, Apple, Canon, DEC, EDS, GTE, IBM Europe, Intel, Mitsubishi, Motorola, NEC, Nokia, NRI, and Philips, and the Singapore and Hongkong governments. DHECac Mr. Tatsuno provides strategy planning in four emerging markets: Information Appliances: set-top boxes, WebTV, WinCE devices, Internet phones, Internet PDAs Home Networking: emerging standards, platforms, high speed internet access & applications Digital Video: DTV, DVD, DSS, video streaming, media creation systems, webcasting Electronic Commerce: SOHO and consumer applications and services, business-to-business models, supply chain. He specializes in taking internet companies through the entire business development process. A graduate of Yale University (1972) and Harvard's Kennedy School of Government (1977), Mr. Tatsuno was involved in infrastructure planning and environmental assessment at Bechtel and Woodward-Clyde (1977-1982). Prior to establishing Dreamscape Ventures in 1989, he helped co-found Dataquest's Japan/Asia semiconductor groups (1982-1989), specializing in technology trends analysis, government R & D policies, alliances, and emerging markets. He has provided due diligence to U.S. startups and Japanese Asian and European firms entering the semiconductor market. Mr. Tatsuno is the author of two books, The Technopolis Strategy and Created in Japan . ALAN R . BATKIN Mr. Batkin is President and CEO of Orama Partners, Inc. an investment bank organized to work primarily with Israeli high tech companies. Orama is majority owned by the ICB Group (the largest industrial group in Israel). Minority ownership is held by Mr. Batkin and ten of the major high tech companies in the world, including such companies as Compaq, Softbank, Lucent, Siemens, Pacific Century Cyberworks, Vulcan Ventures (Paul Allen) and Craig McCaw. EDIaSH Since May 1990, Alan R. Batkin has been Vice Chairman of Kissinger Associates, Inc., a geopolitical consulting firm. From 1972 to 1990, Mr. Batkin was an investment banker at Lehman Brothers, Inc., where he was a Managing Director from 1976 to 1990. Mr. Batkin is a director of four New York Stock Exchange-listed companies: Hasbro, Inc., Overseas Shipholding Group, Inc., Schweitzer-Maudult International, Inc., and Diamond Offshore Drilling, Inc. Mr. Batkin is a Trustees of The Brookings Institution. He serves as a director, member of the Executive Committee and Treasurer of the International Rescue Committee; a director and Executive Committee member of the Joint Distribution Committee and Chairman of the JDC International Council; and a member of the Executive Committee of The Rockefeller University Council. He is a member of the Council on Foreign Relations and the Inter-American Dialogue. He is a trustee of the University of Rochester. aTADCE He received a B.S. degree from the University of Rochester and an M.B.A. from New York University.