Metropolitan Insurance Company

January 11, 1999 PSE CIRCULAR FOR BROKERS NO. 042-99 SUBJECT : Metropolitan Insurance Company Further to Circular for Brokers No. 040-99 dated January 8, 1999, Metropolitan Insurance Company ("MET") furnished the Exchange a copy of its SEC Form 34-C (Preliminary Information Statement) in connection with its Special Stockholders' Meeting which will be held on February 15, 1999 , at 2:00 P.M. at Metropolitan Insurance Company Conference Room, 3rd Floor, Athenaeum Building, 160 Alfaro Street, Salcedo Village, Makati City. Only common stockholders of record at the close of business on January 22, 1999 are entitled to notice of, and to vote at, said meeting. A copy of MET's Preliminary Information Statement is available for reference at the PSE Library and PSE-Plaza Administration Office. llcd For your information. (SGD.) RAFAEL L. LLAVE Chief Operating Officer