PSE Circular for Brokers No. 1193-99

May 26, 1999 PSE CIRCULAR FOR BROKERS NO. 1193-99 Philippine Stock Exchange 4/F Philippine Stock Exchange Center PSE Center, Exchange Road Ortigas Center, Pasig City Metro Manila Attention: Disclosure Department Listing and Disclosure Group Gentlemen : In compliance with the disclosure requirements of the Philippine Stock Exchange, we advise that during the meeting of the Board of Directors of our Company on May 25, 1999, the following cash dividends were declared: 1. P0.50 per share on the Company's Series H 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending June 30, 1999, payable July 30, 1999 to the holders of record on June 24, 1999. 2. P0.50 per share on the Company's Series L 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending June 30, 1999, payable July 30, 1999 to the holders of record on June 24, 1999. LibLex 3. P0.50 per share on the Company's Series M 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending June 30, 1999, payable July 30, 1999 to the holders of record on June 24, 1999. 4. P0.50 per share on the Company's Series Y 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending June 30, 1999, payable July 30, 1999 to the holders of record on June 24, 1999. 5. P1.20 per share on the Company's Common Capital Stock, payable July 15, 1999 to the holders of record on June 15, 1999. aisadc 6. $1.029412 per share on the Series III Convertible Preferred Stock of the Company payable July 15, 1999 to the holders of record on June 15, 1999. Thank you. CASH DIVIDEND (SERIES H, L, M, Y) CASH P0.50 PER SHARE EX-CASH JUNE 18, 1999 RECORD DATE JUNE 24, 1999 DATE PAYABLE JULY 30, 1999 CASH DIVIDEND (COMMON) CASH P1.20 PER SHARE EX-CASH JUNE 9, 1999 RECORD DATE JUNE 15, 1999 DATE PAYABLE JULY 15, 1999 Very truly yours, (SGD.) MA. LOURDES C. RAUSA-CHAN Corporate Secretary