Euro-Med Laboratories Phil., Inc. Final Offer Price and Use of Proceeds

May 26, 1998 PSE CIRCULAR FOR BROKERS NO. 1134-98 SUBJECT : Euro-Med Laboratories Phil., Inc. Final Offer Price and Use of Proceeds EXECUTIVE SUMMARY Further to Circular No. 1031-98 dated May 14, 1998, please be informed of the final offer price and use of proceeds pertaining to the Initial Public Offering of Euro-Med Laboratories Phil., Inc. (the "Company"), to wit: OFFER PRICE: P2.50 per share USE OF PROCEEDS: : The net proceeds to the Company is estimated to be P115 million after deducting expenses payable by the Company. The net proceeds will be used to partially repay borrowings from commercial banks under Omnibus Credit Lines. Provided below is the Company's list of creditors and the corresponding debt to be repaid from the availments of these Omnibus Credit Lines. Repayment of Bank Debt Amount to be repaid (In pesos) Asian Bank Corporation P10,000,000.00 Bank of the Philippine Islands 24,987,075.00 Banco de Oro 20,000,000.00 China Banking Corporation 40,000,000.00 Metropolitan Bank and Trust Company 20,000,000.00 TOTAL P114,987,075.00 For your information and guidance. (SGD.) REYNOLD P. ONG Vice-President, Listings and Disclosure Group