PSE Circular for Brokers No. 769-00

March 24, 2000 PSE CIRCULAR FOR BROKERS NO. 769-00 March 23, 2000 PHILIPPINE STOCK EXCHANGE 4/F PSE Centre, Exchange Road Ortigas Center, Pasig City, MM Attention: Ms. GRACE DE GUIA Head, Disclosure Group Dear Ms. De Guia: Please be advised that during the Regular Meeting of the Board of Directors of EasyCall Communications Philippines, Incorporated (ECPI) held today at 2:00 in the afternoon at the ECPI Board Room, Mandaluyong City, the Board approved the following: 1. The resignation of the Mr. Joseph Yang as Director of ECPL, 2. The appointment of Mr. CHAN WING LEONG as the replacement of Mr. Yang to serve the unexpired portion of the term of the outgoing Director Mr. Yang. Mr. Chan has been recently appointed as the new Executive Chairman of EasyCall Asia Ltd. (ECA), a major foreign shareholder of ECPI, to lead the company into becoming an internet firm. Chan was the former Chairman of Pacific Internet, which he co-founded in 1995 while employed as the Chief Finance Officer to a major Singapore government-owned conglomerate With more than seven years of experience as an investment banker coupled with an impressive track record in the internet sector, ECA is confident that Chan will be able to lead the company in penetrating the internet industry and enhance shareholder's value 3. Declaration of 25% stock dividend at P1 per share to stockholders of record as of April 24, 2000 to channel back current resources to ECPI's expansion into the internet business. The stock dividend comprising about 15.8 million shares will be taken out of the company's retained earnings of some P123 million as of end of February 2000. The stock dividend declaration will be presented for the approval by its shareholders in a special meeting to be called by the first week of April 2000. For your information. cEISAD (SGD.) ATTY. JOFE A. ATENTA-ROQUERO Legal Officer/Corporate Information Officer