First Philippine Holdings Corporation Record Date of the 20% Stock, Dividend

February 12, 1998 PSE CIRCULAR FOR BROKERS NO. 119-98 SUBJECT : First Philippine Holdings Corporation Record Date of the 20% Stock, Dividend Further to Dividend Notice No. 178 dated September 30, 1997, First Philippine Holdings Corporation informed the Exchange, in a letter dated February 10, 1998, that the Securities and Exchange Commission on even date resolved to authorize the issuance of 65,861,265 shares out of the increase in authorized capital stock to cover the 20% stock dividend in favor of stockholders of record as of February 25, 1998 . LLphil For your information. (SGD.) MARIA ISABEL T. GARCIA Head, Listing & Disclosures Group STOCK DIVIDEND UPDATE: STOCK 20% RECORD DATE February 25, 1998 EX-STOCK February 19, 1998