FEU Shares

June 10, 1998 PSE CIRCULAR FOR BROKERS NO. 1298-98 June 9, 1998 The Philippine Stock Exchange, Inc. Philippine Stock Exchange Centre Exchange Road, Ortigas Center Pasig City Fax Nos. 636-0809 637-8811 Attention: Mr . Joselito V . Santos Acting Head Compliance & Surveillance Group RE : FEU SHARES Gentlemen : We refer to your letter dated today, June 9, 1998 which we received via fax at noontime. We are not aware of any material information that may affect or cause the unusual movement in the trading or increase in price of the FEU shares. The only reason we can possibly think of for such movement or increase in price is the fact that the Board of Trustees of Far Eastern University, at its meeting held on February 11, 1998, ratified and confirmed at the special stockholders' meeting on March 27, 1998, increased its authorized capital stock of P80,000,000.00 to P300,000,000.00 and declared a 200% stock dividend to be distributed among the stockholders as of record date to be fixed by Order of the Securities and Exchange Commission, in proportion to their respective shareholdings, such dividend to be issued as soon thereafter as the necessary government permit or authorization shall have been issued. Very truly yours, FAR EASTERN UNIVERSITY (SGD.) FE V. CANILAO Chief Financial Officer