PSE Circular for Brokers No. 757-00

March 23, 2000 PSE CIRCULAR FOR BROKERS NO. 757-00 March 22, 2000 Philippine Stock Exchange Centre Exchange Road, Ortigas Center Pasig City, Metro Manila Attention: Atty. JOSE G. CERVANTES Chief Operating Officer Gentlemen: Pursuant to the Exchange's policy of full fair, timely and accurate disclosure at all times of material information that may affect the value and trading of securities, we are enclosing herewith, the President's report to the stockholders which may be considered as disclosure of material information or fact which would necessarily affect the decision of investors. Thanking you, we are, Very truly yours, IMPERIAL RESOURCES, INC. By: (SGD.) VICENTE P. ACSAY Corporate Secretary Dear Stockholders, There have been numerous inquiries on the progress of your company's proposed venture into Information Technology. I would like to announce that your management has been investigating various developing opportunities in the field of Information Technology such as digital communication, online media, prepaid and postpaid card service, ISP and WEB services, internet access and information content. Your company is actively looking for business association with foreign and domestic companies that have mutually complementing vision. Some hardware and software suppliers have made product presentations. DaIAcC Thank you for your continued support. We will keep you informed as we progress. Very Truly Yours, (SGD.) Oliverio Laperal President, Imperial Resources, Inc. March 22, 2000