PSE Circular for Brokers No. 117-00

January 19, 2000 PSE CIRCULAR FOR BROKERS NO. 117-00 PHILIPPINE STOCK EXCHANGE, INC. DISCLOSURE DEPARTMENT LISTINGS AND DISCLOSURE GROUP PSE CENTER, PASIG CITY Gentlemen: We would like to advise that during the special meeting of the Board of Directors of SOLIDBANK CORPORATION held today, January 19, 2000, the following Directors resigned from the Board; NAME Date of Effectivity 1. Consuelo P. Madrigal Jan. 19, 2000 2. Gizela M. Gonzalez Jan. 19, 2000 3. Susana A.S. Madrigal Jan. 19, 2000 4. Jose Vicente M. De Leon Jan. 19, 2000 5. Francisco M. Bayot Jan. 19, 2000 6. Lim Ka Thong Jan. 19, 2000 The resignation of the above Directors were duly accepted, and their replacements were likewise simultaneously/sequentially elected by the Board of Directors, as follows: NAME Date of Effectivity 1. Arthur V. Ty Jan. 19, 2000 2. Francisco C. Sebastian Jan. 19, 2000 3. Alfredo P Javellana II Jan. 19, 2000 4. Antonio V. Viray Jan. 19, 2000 5. Margarito Teves Jan. 19, 2000 6. Cielito Habito Jan. 19, 2000 The above newly-elected Directors will serve as such effective immediately until the next regular stockholders' meeting of Solidbank Corporation scheduled on April 04, 2000 or until their successors shall have been duly elected and qualified. cdlex We will send you the Biographical Data Forms of the newly-elected Directors as soon as accomplished. Thank you. Very truly yours, (SGD.) ROMULO C. BERNARDEZ Corporate Secretary