PSE Circular for Brokers No. 1199-99

May 26, 1999 PSE CIRCULAR FOR BROKERS NO. 1199-99 SECURITIES AND EXCHANGE COMMISSION SEC FORM 11-C CURRENT REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND RSA RULE 11(a)-1(b)(3) THEREUNDER 1. May 25, 1999 Date of Report (Date of earliest event reported) 2. SEC Identification Number 5223 3. BIR Tax Identification No. 230-000-453-086 4. EQUITABLE BANKING CORPORATION (EBC) Exact name of registrant as specified in its charter 5. Metro Manila Province, Country or other jurisdiction of incorporation 6. [ ] (SEC Use Only) Industry Classification Code: 7. 262 Juan Luna Street, Binondo, Manila 1006 Address of principal office (Postal Code) 8. (632) 242-7101 Registrant's telephone number, including area code 9. Not Applicable Former name or former address, if changed since last report 10. Securities registered pursuant to Sections 4 and 8 of the RSA Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding Common Shares 316,770,000 11. Indicate the item numbers reported herein: Item 9 Pursuant to the closing today, May 25, 1999, of the Sale and Purchase Agreement dated May 12, 1999 between Equitable Banking Corporation (EBC), Social Security System (SSS), Government Service Insurance System (GSIS) and EBC Investment, Inc. (EBCII), on behalf of certain group of Investors, as separate buying parties. and Benpres Holdings Corporation, Consolidated Robina Capital Corporation, Meralco Pension Fund, John Gokongwei, Jr., as attorney-in-act for certain shareholders in Philippine Commercial International Bank ("PCIB"), EBC acquired a total of 7,411,876 shares of PCIB representing 4.8% more or less, of the outstanding capital stock of PCIB. LLjur EBCII, an Investment house and a wholly-owned subsidiary of LBC, likewise acquired a total of 50,627,959 shares of PCIB representing 38.25% more or less, of the outstanding capital stock of PCIB for and in behalf of certain investors. SIGNATURES Pursuant to the requirements of the Revised Securities Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. EQUITABLE BANKING CORPORATION Registrant By: (SGD.) ELMER B. SERRANO Officer-in-Charge Corporate Information Office