The obverse side features President Joseph Estrada taking his oath of office on June 30, 1998 in the historic Barasoain Church, the seat of the first democratic republic in Asia shown in the background as well as the scroll of the Malolos Constitution and the seal of the BSP (Bangko Sentral ng Pilipinas).
The term "Barasoain" was derived from Barásoain in Navarre, Spain to which the missionaries found the place in Malolos in striking similarity.
General Arthur MacArthur, Jr.'s division advanced to Malolos along the Manila–Dagupan Railway.
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It was then decided that Malolos be approached via the Manila–Dagupan Railway.
Immaculate Conception School for Boys, A Catholic Private School located in Malolos, Bulacan, Philippines
The reverse side of the banknote features the Barasoain Church in Malolos, Bulacan, site of the first Philippine Congress and where the Malolos Constitution was drafted.
Meanwhile, with U.S. forces under Otis advancing northwards from Manila, the seat of Aguinaldo's revolutionary government had been moved from Malolos to new headquarters in San Isidro, Nueva Ecija.
Amado Paulino (who on June 30, 1959, the Assistant Parish Priest, blessed the St. Mary's College of Baliuag)Bishop Amado Paulino y Hernandez was later promoted by the Diocese of Malolos.
The First Philippine Republic government under Emilio Aguinaldo has had four different temporary capitals throughout the Philippine Revolution against Spanish colonization and subsequent American occupation: Malolos, Bacolor, Cabanatuan, and Palanan.