PSE Circular for Brokers No. 122-98

February 12, 1998 PSE CIRCULAR FOR BROKERS NO. 122-98 SEC FORM 11-C CURRENT REPORT UNDER SECTION 11 AND RSA RULE 11(a)-1(b)(3) THEREUNDER 1. Date of Report (Date of earliest event reported): 29 January 1998 2. SEC Identification Number: 17596 3. BIR Tax Identification No. 039-000-910-715 4. Exact name of registrant as specified in its charter: Asiatrust Development Bank, Inc. 5. Province, country or other jurisdiction of incorporation: Metro Manila, Philippines 6. Industry Classification Code: (SEC Use Only) 7. Address of Principal Office: 1424 Quezon Avenue, Quezon City, M.M. Postal Code: 1103 8. Registrant's telephone number, including area code: (632) 373-41-01 to 02 9. Former name or former address, if changed since last report: N/A 10. Securities registered pursuant to Section 4 and 8 of the RSA: Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Outstanding Liabilities (as of 31 January 1998) Common Shares 104,013,225/ P6,492,770,000.00 11. Indicate the item numbers reported herein: 2 Items 5. Legal Proceedings We have received on 03 February 1998 Summons for CC# 98-33279 entitled " Josefina Palad vs . Asiatrust Bank " pending at RTC-QC, Br. 77. This is a suit for collection instituted by Josefina Palad alleging the Bank's responsibility for a second endorsed check in the amount of P5,835,000 . 00 which was deposited in the account of our depositor, Sterling Credit. We have yet to answer the complaint. LLphil Items 9. Other Events 1. Approval of Investment of the Bank for the purchase of 24,995 shares in ATB Insurance Agency, Inc., such investment being subject to the approval of the Monetary Board. 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. ASIATRUST DEVELOPMENT BANK, INC. Registrant (SGD.) MA. NERIZA C. SAN JUAN Vice President Corporate Legal Counsel