PSE Circular for Brokers No. 1075-99

May 13, 1999 PSE CIRCULAR FOR BROKERS NO. 1075-99 May 12, 1999 Disclosure Department Listings and Disclosure Group 4/F Philippine Stock Exchange Center PSE Center, Exchange Road Ortigas Center, Pasig City Gentlemen : Please be advised that the principal shareholders of PCIBank Benpres Holdings Corporation, Consolidated Robina Corporation, and Meralco Pension Fund today announced their acceptance of a firm offer at P290 per share by a consortium comprised of Equitable Banking Corporation, the Social Security System, and the Government Service Insurance System. The sale to the winning consortium has pre-empted an extended auction process originally set out by the vendors. J.P. Morgan and ING Barings acted as financial advisers to the shareholders in the sale of PCIBank. Thank you for your kind attention. cdpr Very truly yours, PHILIPPINE COMMERCIAL INTERNATIONAL BANK By: (SGD.) DANNY E. BUNYI Acting Assistant Corporate Secretary JG SUMMIT HOLDINGS, INC 11. Item 9 Other Events (b) Events not called for by form, JG Summit Holdings, Inc. ("JG Summit") is pleased to announce that its wholly-owned subsidiary, Consolidated Robina Capital Corporation ("CRCC"), together with Benpres Holdings Corporation and the Meralco Pension Fund, has agreed, subject to the approval by the Bangko Sentral ng Pilipinas, to sell their combined 72% shareholdings in the Philippine Commercial International Bank to a consortium composed of Equitable Banking Corporation, EBC Investments Inc., the Social Security System and the Government Services Insurance System at a purchase price of approximately P290.00 per share. SIGNATURES Pursuant to the requirements of the Revised Securities Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. JG Summit Holdings, Inc. (Registrant) (SGD.) EMMANUEL C. ROJAS, JR. Corporate Secretary