Philippine Stock Exchange

February 5, 1998 PSE CIRCULAR FOR BROKERS NO. 065-98 Philippine Stock Exchange Philippine Stock Exchange Center Exchange Road, Ortigas Center Pasig City, Metro Manila Attention : Ms Maria Isabel T. Garcia Head, Listing Department RE : La Tondea Distillers, Inc. (LTDI). Gentlemen: We write on behalf of La Tondea Distillers, Inc. (LTDI). Please be informed that at the meeting of the Board of Directors of La Tondea Distillers, Inc. held today, February 4, 1998 at 3:30 p.m., the following matters were taken up: 1) Scheduling the Annual Stockholder's Meeting on April 13, 1998 at 11 a.m. 2) Fixing March 24, 1998 as the record date for stockholders entitled to notice and vote at the Annual Stockholder's Meeting. 3) Approval of the Audited Financial Statements for the year 1997 with the following salient features: a) Consolidated Net Sales grew from P7.9 Billion to P8.8 Billion or an 11% increase from 1996; b) Operating income declined by 18% from P1.5 Billion in 1996 to P1.2 Billion in 1997; c) Net recurring income after tax in 1997 was P241 Million down from P728 Million in 1996; d) Earnings per share is P0.75. This information is made in compliance with the SEC Rules Requiring Disclosure of Material Facts By Corporations Whose Securities Are Listed In Any Stock Exchange Or Registered/Licensed Under The Revised Securities Act and by the PSE Revised Rules On Corporate Disclosure. Very truly yours, (SGD.) BARBARA ANNE C. MIGALLOS Corporate Secretary