Features the oath taking of the President Joseph Ejercito Estrada at Barasoain Church on June 10, 1998. It also shows the scroll of the Malolos Constitution with the inscription "September 15, 1898" and the Barasoain Church in the background.
Features the reenactment of the declaration of Philippine Independence at Aguinaldo's Shrine in Kawit, Cavite on June 12, 1898 of former President Fidel V. Ramos to mark the Centennial of Philippine Independence, with the logo of Philippine Centennial Commission.
The New Millennium banknote with the size of 160 mm by 66 mm, is the smaller version of the Centennial Commemorative banknote but is not legal tender. BSP released for sale 50,000 pieces of this type for historical, numismatic, educational and other purposes.;