PSE Circular for Brokers No. 1051-99

May 12, 1999 PSE CIRCULAR FOR BROKERS NO. 1051-99 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. 11 May 1999 (Date of Report) 2. SEC Identification Number 163671 3. BIR Tax Identification No. 320-000-804-342 4. GUOCO HOLDINGS (PHILIPPINES), INC. Exact name of registrant as specified in its charter 5. Metro Manila, Philippines Province, country or other jurisdiction of incorporation 6. [ ] (SEC Use Only) Industry Classification Code 7. 17/F, BA-Lepanto Building, 8747 Paseo de Roxas, Makati City Address of Registrant's Principal Office 8. (632) 887-8701 Registrant's Telephone Number, including area code 9. Securities registered pursuant to Sections 4 and 8 of the RSA (As of 31 March 1999) Title of each Class Number of shares of Common Stock Outstanding and Amount of Debt Outstanding Common Shares 2,366,444,383 Preferred Shares 0 Loans Payable P9.4822 billion 10. Indicate the item numbers reported herein: Press Release PepsiCo Inc., through its direct subsidiary PepsiCo Global Investments II B.V. (PGI) has acquired a 32.874% equity interest in Pepsi-Cola Products Philippines, Inc. (PCPPI), an indirect subsidiary of Guoco Holdings (Philippines), Inc. (GHPI). The 32.874% interest was acquired by PGI for a total of P2 billion. The investment involved a subscription to 482.5 million shares under a rights issue of P2.00 per share, the conversion of its loans to PCPPI into equity, and the acquisition of shares from an indirect subsidiary of the Corporation. This move by PepsiCo to enhance their participation in PCPPI is expected to have a positive impact on the company's operations as the long term fundamentals of the business will be strengthened considerably. PepsiCo's strong presence in the region will allow effective synergies in terms of marketing support, logistics and infrastructure planning. This should enable PCPPI to sustain its growth momentum and keep apace with the globalization of the beverage industry. LexLib With the investment by PGI, the equity of GHPI in PCPPI now amounts to 36% indirectly held by GHPI and 26% held by other affiliates. GUOCO HOLDINGS (PHILIPPINES), INC. By: (SGD.) DAISY L. PARKER Corporate Secretary