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Philippine Stock Exchange, Inc.

PSE Circular for Brokers No. 060-98 • Philippine Stock Exchange • Circulars for Brokers • Feb 5, 1998

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February 5, 1998 PSE CIRCULAR FOR BROKERS NO. 060-98 February 4, 1998 Philippine Stock Exchange, Inc. Phil. Stock Exchange Center Exchange Road, Ortigas Center Pasig, Metro Manila Attention : Atty. Ruben L. Almadro VP Compliance & Surveillance Group Gentlemen: We write in response to your letter today regarding the unusual movement in the price of Acoje Holdings, Inc. during today's trading sessions. We wish to advise you that there are no company developments or information which should result in such unusual price movement. We believe that the upward price movement in Acoje shares is part of the general rebound of the market. However, should there be any material development affecting the company, we shall immediately advise you of the same in accordance with the rules and regulations of the Exchange. Very truly yours, (SGD.) HIRENE U. LOPEZ Executive Vice President

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