Medco Holdings, Inc.

May 19, 1998 PSE CIRCULAR FOR BROKERS NO. 1062-98 SUBJECT : Medco Holdings, Inc . Further to Circular No. 508-98 dated March 27, 1998 Medco Holdings, Inc. ("MED") furnished the Exchange on May 15, 1998 a copy of SEC Form 34-A (Definitive Proxy Statement) in connection with its Annual Stockholders' Meeting which will be held on Friday, May 29, 1998 , at the Nash Room, Mandarin Oriental Hotel, Makati Avenue, Makati City, at 10:00 a.m., for the following purposes: 1. to approve the minutes of the last annual meeting of stockholders held on 29 May 1997; 2. to approve the 1997 financial accounts and reports; 3. to elect seven (7) directors; 4. to ratify the appointment of Punongbayan & Araullo as the independent public accountants of the Company for fiscal year 1998; and 5. to transact such other business as may properly come before the meeting or any adjournments thereof. As previously announced, stockholders, of record as of April 15 , 1998 are entitled to notice of, and to vote at, said meeting. A copy of MED's Definitive Proxy Statement is available for reference at the PSE Library and PSE-Plaza Administration Office. cdpr For your information. (SGD.) REYNOLD P. ONG Vice-President, Listings and Disclosure Group