PSE Circular for Brokers No. 760-00

March 23, 2000 PSE CIRCULAR FOR BROKERS NO. 760-00 Date : March 22, 2000 TO : Disclosure Department Tel No.: (632) 636-0122) Philippine Stock Exchange Fax No.: (632) 636-0809 FROM : Randolph T. Estrellado Tel No.: (632)924 4101/415 AVP Finance 2272 local 4330 Fax No.: (632)-431-9368 Number of Pages (including cover): Gentlemen: This is connection with your fax message dated March 13, 2000, addressed to Atty. Eric Quiason, regarding the news article entitled 'First Pacific, ABS CBN in talks for buy-in deal?" published in the March 13, 2000 issue of the Business World. TECIaH Although the news article itself appears to be merely speculativc, we nevertheless would like to reiterate that ABS-CBN Broadcasting Corporation (ABS-CBN) is not aware of any talks between First Pacific Co. Ltd. (First Pacific) and the Lopez Group concerning the possibility of First Pacific buying into ABS-CBN. As has been our practice in the past and as a policy that we intend to maintain in the future, we will be informing the investing public and the exchange if any matter arises that will have a significant impact on the operations and financial performance of the company. Please don't hesitate to call or fax me at the numbers listed above should you need further clarifications on this or any other matter. Best regards, (SGD.) RANDOLPH ESTRELLADO