Philippine Bank of Communications

May 27, 1999 PSE CIRCULAR FOR BROKERS NO. 1225-99 SUBJECT : Philippine Bank of Communications Further to Circular for Brokers No. 1141-99 dated May 20, 1999, Philippine Bank of Communications ("PBC") furnished, the Exchange a copy of its amended SEC Form 34-C (Definitive Information Statement) in connection with its Annual Stockholders' Meeting which will be held on June 15, 1999 , at 4:00 P.M. at the PBCom Training Center, Fourth Floor, Fil-am Resources Building, 231 Juan Luna Street, Binondo, Manila. The agenda for the meeting is as follows: I. Call to Order. II. Certification on Sending of Notices. III. Certification of Presence of Quorum. IV. Reading and Approval of the Previous Minutes. V. Report of the President. VI. Approval of the Financial Statements for the Fiscal Year Ended December 31, 1998. VII. Ratification of Actions Taken by the Board of Directors, Management, Executive, Trust, Audit and Promotion Committees. VIII. Election of the Board of Directors. IX. Election of External Auditors. X. Other Business, if any. XI. Adjournment. As previously announced, stockholders of record as of May 7, 1999 are entitled to notice of, and to vote at, said meeting. LibLex A copy of PBC's Definitive Information Statement is available for reference at the PSE Library and PSE-Plaza Administration Office. For your information. (SGD.) JOSE LUIS U. YULO, JR. President and CEO