Philippine Bank of Communications

May 22, 1998 PSE CIRCULAR FOR BROKERS NO. 1104-98 SUBJECT : Philippine Bank of Communications Further to Circular No. 1018-98 dated May 12, 1998, Philippine Bank of Communications ("PBC") furnished the Exchange on May 21, 1998 a copy of SEC Form 34-C (Definitive Information Statement) in connection with its Annual Stockholders' Meeting which will be held on June 16, 1998, at 4:00 p.m., at the Capiz Function Room, Third Floor, Holiday Inn Manila Pavilion Hotel, United Nations Avenue, Manila. The agenda for the meeting shall be as follows: 1. Call to Order 2. Certification on Sending of Notices 3. Certification of Presence of Quorum 4. Approval of Minutes of the Previous Annual Stockholders' Meeting held on June 17, 1997 5. Presentation of the Annual Report 6. Ratification of All Acts and Proceedings of the Board of Directors, Management, Executive, Trust, Audit and Promotion Committees 7. Election of the Members of the Incoming Board of Directors 8. Appointment of External Auditor 9. Other Business, If any, 10. Adjournment As previously announced, stockholders of record as of May 15, 1998 are entitled to notice of, and to vote at, said meeting. A copy of PBC's Definitive Information Statement is available for reference at the PSE Library and PSE-Plaza Administration Office. For your information. (SGD.) REYNALDO P. ONG Vice-President, Listings and Disclosure Group