NEWSFLASH

---

$1-B SALES EXPECTED AT HANNOVER FAIR

Manila, Feb. 17, 1998 - The Philippines could generate up to $1 billion in sales, direct investments and strategic partnerships at Hannover '98 Trade Fair, the world's largest industrial forum. The Philippines is a country partner of the fair, which has the Center for International Trade Expositions and Missions (CITEM) as one of the organizers.

Ernesto Santiago, CITEM's industrial division chief, said 71 Philippine companies will put on display 218 industrial products.

"Industrial goods compose 65% of Philippine exports, showing that we definitely have the capacity to become and industrial country," Santiago said.

"Because of the size and substantial financial resources of the Philippines' large corporations, they can easily attract hundreds of millions of dollars worth of investments," he added.

European investors interested in Philippine products either place direct sales orders, go into sub- contracting and joint ventures or engage in the establishment of 100%-European-owned companies.

---