Philippine Long Distance Telephone Company

June 1, 1999 PSE CIRCULAR FOR BROKERS NO. 1273-99 SUBJECT : Philippine Long Distance Telephone Company Further to Circular No. 899-99 dated April 28, 1999, Philippine Long Distance Telephone Company ("TEL") furnished the Exchange a copy of its SEC Form 34-A (Definitive Proxy Statement), including its 1998 Annual Report, in connection with its Annual Stockholders' Meeting which will be held on June 29, 1999 , at 4:00 p.m., at the Grand Ballroom, Dusit Hotel Nikko, Ayala Center, Makati City. The agenda for the meeting shall be as follows: 1. Call to Order 2. Certification of Service of Notice and Quorum 3. President's Report 4. Approval of the Audited Financial Statements for the period ended 31 December 1998 contained in the Company's 1998 Annual Report 5. Election of the Directors for the ensuing year 6. Appointment of Independent Auditors 7. Other business as may properly come before the meeting and at any adjournments thereof As previously announced, stockholders of record as of May 10, 1999 are entitled to notice of, and to vote, at, said meeting. LLcd A copy of TEL's Definitive Proxy Statement, including its 1998 Annual Report, 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