Tanduay Holdings, Inc.

March 21, 2000 PSE CIRCULAR FOR BROKERS NO. 728-00 SUBJECT : Tanduay Holdings, Inc . Further to Circular for Brokers No: 689-2000 dated March 17, 2000, Tanduay Holdings, Inc. ("TDY") furnished the Exchange a copy of its SEC Form 34-C (Preliminary Information Statement) in connection with its Annual Stockholders' Meeting which will be held on May 17, 2000 , at 4:00 p.m. at the Badjao Room, Century Park Sheraton Hotel, Vito Cruz Street, Manila. The agenda for the meeting shall be as follows: 1. Call to Order 2. Proof of due Notice of meeting and existence of Quorum 3. Approval of the Minutes of the Previous meeting held on August 24, 1999 4. Annual Report of the President 5. Election of Directors 6. Election of External Auditors 7. Confirmation of all resolutions, contracts and acts of the Board of Directors, the Executive Committee, other Board Committees and of Management 8. Other Matters 9. Adjournment As previously announced, only stockholders of record as of April 17, 2000 are entitled to notice of, and to vote at, said meeting. Those who are unable to attend said meeting but would like to be represented thereat, may accomplish a proxy instrument and submit the same to the office of the Corporate Secretary at least 48 hours before the meeting. A copy of TDY's Preliminary Information Statement is available for reference at the PSE Centre and PSE-Plaza Libraries. cIHDaE For your information. (SGD.) MARIA ISABEL T. GARCIA OIC, Listings & Disclosure Group