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Ayala, Microsoft To Work Together

March 16, 1998

MANILA, Philippines (AP) _ Diversified holding company Ayala Corp. said Monday it will sign a memorandum of understanding with Microsoft Corp. to explore several areas of partnership in the field of information technology.

Among the projects to be considered by the two companies are ventures in electronic commerce, digital entertainment and the possible establishment of a technology zone or an investment area devoted to information technology-related companies.

The signing of the memorandum is slated for March 20, when Microsoft chairman Bill Gates is scheduled to visit the Philippines.

Ayala Corp. said the technology zone it is envisioning will be dedicated to computer-related industries engaged in research and software development.

Ayala Corp. has invested some 7 billion pesos (dlrs 178 million) in the information technology industry though its various subsidiaries, the company said.

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