We would like to inform you that Benguet Corporation (BC) will not be able to file its Form 20-F on August 15, 2004. The delay in the submission of BC's 2003 audited financial statements was mainly due to the need to reconcile the new US SEC rules and those of the Philippine Generally Accepted Principles (GAAP). For the purpose of complying with said US SEC rules, BC's 2003 audited financial statements are already being reviewed by our local auditors' U.S. counterpart, Ernst & Young.