Manila Broadcasting Company

May 21, 1998 PSE CIRCULAR FOR BROKERS NO. 1096-98 SUBJECT : Manila Broadcasting Company Manila Broadcasting Company ("MBC") furnished the Exchange on May 20, 1998 a copy of SEC Form 34-C (Definitive Information Statement) in connection with its Annual Stockholders' Meeting which will be held on June 11, 1998 , at 3:00 p.m., at the Mahogany Room, 4th Floor, Mandarin Oriental Hotel, Makati Avenue, Makati City. The agenda for the meeting shall be as follows: 1. Call to Order 2. Certification of notice and quorum 3. Approval of 1997 audited financial statements 4. Ratification of the acts of the Board of Directors and Officers of the Corporation 5. Election of Directors 6. Appointment of External Auditors 7. Other matters 8. Adjournment The Board of Directors has fixed the end of trading hours of the Philippine Stock Exchange on May 21, 1998 as the record date for the determination of stockholders entitled to notice of, and to vote at, said meeting and any adjournment thereof. The stock and transfer book of the company will be closed from June 5, 1998 to the close of business hours on June 11, 1998 . A copy of MBC's Definitive Information Statement is available for reference at the PSE Library and PSE-Plaza Administration Office. For your information. (SGD.) REYNOLD P. ONG Vice-President, Listings and Disclosure Group