PSE Circular for Brokers No. 1201-98

June 1, 1998 PSE CIRCULAR FOR BROKERS NO. 1201-98 May 29, 1998 Philippine Stock Exchange Disclosure Department Listings and Disclosure Group 4/F Philippine Stock Exchange Center PSE Center, Exchange Road Ortigas Center, Pasig City Attention: Mr . Reynold P . Ong Vice President Listings & Disclosure Group Dear Sirs : We wish to correct a typographical error appearing in Resolution No. 37-00-98 which we furnished you with our letter of May 22, 1998, regarding the increase of capital stock of Prudential Bank. The error is that the proposed capital stock of the corporation of PHP1,150,000,000.00 is stated as being divided into a) 10,000,000 common shares with a par value of PHP100 each; and b) 1,150,000 preferred shares with a par value of PHP100 each. It should be 1,500,000 preferred shares . The corrected resolution is as follows: Resolution No . 37-00-98 RESOLVED, as it is hereby resolved, to amend the first paragraph of Article Seventh of the Articles of Incorporation of Prudential Bank, increasing the authorized capital stock of ONE BILLION ONE HUNDRED FIFTY MILLION PESOS (PHP1,150,000,000.00) divided into TEN MILLION (10,000,000) common shares with a par value of PHP100 each and ONE MILLION FIVE HUNDRED THOUSAND (1,500,000) preferred shares with a par value of PHP100 each such that the first paragraph of Article Seventh shall now read as follows: SEVENTH: That the capital stock of said corporation is ONE BILLION ONE HUNDRED FIFTY MILLION PESOS (PHP1,150,000,000.00) Philippine Currency, and said capital stock is divided into a) TEN MILLION (10,000,000) common shares with a par value of PHP100 each: and b) ONE MILLION FIVE HUNDRED THOUSAND (1,500,000) preferred shares with a par value of PHP100 each (as amended on November 18, 1992, further amended on March 29, 1994). Very truly yours, (SGD.) OCTAVIO D. FULE Vice President