Philippine Postal Corporation and the Philippine Trade and Investment Center, Manila Economic and Cultural Office in Taipei jointly held a Philippine Stamp Exhibition from December 1 to 3, 1992 in Taipei. To celebrate this event and promote the friendship between the two countries, this Directorate released a Commemorative Souvenir Sheet. This sheet was printed on New Year's Greeting Souvenir Sheet issued on December 1, 1992, with overprinted Chinese characters「菲律賓郵票展覽-臺北」and English words 〝PHILIPPINE STAMP EXHIBITION 1992 -TAIPEI〞, and has six additional perforations.