PSE Circular for Brokers No. 125-00

January 20, 2000 PSE CIRCULAR FOR BROKERS NO. 125-00 January 19, 2000 Metro Pacific Corporation announced today the appointment of Carlos A Pedrosa as the new Vice-Chairman, President & CEO of PDCP Bank. The appointment of Carlos S Pedrosa follows the management changes and appointments made earlier this year by MPC. Vicente C. Tinsay, III, the current Vice-Chairman & CEO of PDCP Bank, has been recalled to Fort Bonifacio Development Corporation to continue the developments he started on the non-property side of FBDC. Michael P. Goco, President & COO of PDCP Bank was reassigned to MPC to assist Ricardo S. Pascua in the process of transforming MPC to be the premiere real estate property holding company of the group in the Philippines. In the last quarter of last year, MPC, the majority shareholder of PDCP Bank decided to increase its capitalization by P2.5 billion. The appointment of Mr. Pedrosa is another step towards making PDCP Bank an integral part of MPC's overall plan for growth. Carlos A Pedrosa is a well-respected banker with more than 27 years of experience in banking He was until 1992 an Executive Vice President of Metrobank and was President & CEO of Pilipinas Bank from 1993 to 1997. Immediately prior to his joining PDCP Bank, Mr. Pedrosa was President and CEO of Worldwide Investment Management Company of the Philippines (Winvest), a joint venture between GSIS and Clement Asia (Phils.); Inc., which is the Fund Manager of the GSIS Mutual Fund. He remains as its Managing Consultant. Mr. Pedrosa is also Vice Chairman of Toyota Motor Philippines, Inc., a joint venture between Metrobank Group and Toyota Motor Corporation of Japan. llcd