PSE Circular for Brokers No. 1167-98

May 27, 1998 PSE CIRCULAR FOR BROKERS NO. 1167-98 DISCLOSURE DEPARTMENT LISTING AND DISCLOSURE GROUP 4/F Philippine Stock Exchange Center PSE Center, Exchange Road, Ortigas Center, Pasig City Gentlemen : The Board of Directors of Metropolitan Bank and Trust Company in its meeting held on May 27, 1998 has approved and fixed the following: 1) July 22, 1998 as the date of the Special Stockholders Meeting, to ratify and confirm the Twenty per cent (20%) stock dividend approved by the Board of Directors on April 22, 1998. 2) June 11, 1998 as the record date to determine the stockholders entitled to notice and to vote in the July 22, 1998 Special Stockholders Meeting. Very truly yours, (SGD.) ANTONIO V. VIRAY First Vice President Asst . Corporate Secretary