PSE Circular for Brokers No. 1017-98

May 13, 1998 PSE CIRCULAR FOR BROKERS NO. 1017-98 SECURITIES AND EXCHANGE COMMISSION SEC FORM 11-C CURRENT REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND RSA RULE 11(a) - 1(b)(3) THEREUNDER 1. April 29, 1998 Date of Report (Date of earliest event reported) 2. SEC Identification No. 5830 3. BIR Tax Identification No. 00488574 4. THE PHILIPPINE BANKING CORPORATION (PHILBANK) Exact Name of registrant as specified in its charter 5. Manila, Philippines Province, country or other jurisdiction of incorporation 6. (SEC Use Only) Industry Classification Code: 7. 6778 Philbank Bldg. Ayala Avenue, Makati City 1226 Address of principal office Postal Code 8. 817-09-01 to 28 and 817-11-67 Registrant's telephone number, including area code 9. Not Applicable Former name or former address, if changed since last report 10. Securities registered pursuant to Sections 4 and 8 of the RSA Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding Common Stock 28,726,132 11. Indicate the item numbers reported herein.. Name Position Held Date of Effectivity of Resignation George G. Chuacosu First Vice President/ Head-CMG Div. 9 4-28-98 The resignation of the above-named officer has no adverse impact on Philbank's current or future operations, financial position and results of operations. The responsibilities of the above-named officer have been assumed by current officers of the corporation. The foregoing development is a consequence of the concerned officer's desire to rejoin his family abroad. Pursuant to the requirements of the Revised Securities Act, the registrant has duly caused this report to be signed in its behalf by the undersigned hereunto duly authorized. THE PHILIPPINE BANKING CORPORATION Registrant (SGD.) RENATO J. FERNANDEZ Corporate Secretary & General Counsel