PSE Circular for Brokers No. 1329-99

June 7, 1999 PSE CIRCULAR FOR BROKERS NO. 1329-99 June 4, 1999 Disclosure Department Listings and Disclosure Group 4/F Philippine Stock Exchange Center PSE Center, Exchange Road Ortigas Center, Pasig City Gentlemen : Please be advised that at the special meeting of the Board of Directors of PCI Leasing and Finance, Inc. held today, the 4th day of June 1999, the following matters were taken up: 1. Resignations of the following Directors: Messrs. Eugenio Lopez, Jr., John Gokongwei, Jr., Johnson Robert Go, Augusto Almeda Lopez, William T. Gatchalian, Lance Gokongwei, Manuel M. Lopez and Ms. Esperanza S. Osmena; and Appointments of the following as replacements: Messrs. Ferdinand Martin G. Romualdez, Renato B. Magadia, Federico C. Pascual, Rolando L. Macasaet, Horacio T. Templo, Leopoldo S. Veroy, Romuald U. Dy Tan, Sergio Ll. Naranjilla, Jr. and Nilo T. Divina. LLphil 2. Confirmation on the postponement (by the new Board of Directors of PCIBank, at its regular meeting held on May 27, 1999) of the 1999 Annual Stockholders' Meeting of PCI Leasing and Finance, Inc. from the 24th of June 1999 to the 16th of July 1999 at 6:00'o clock in the morning at the Francisco Santiago hall, Mezzanine Floor, PCIBank Tower 1, Makati Avenue corner H.V. dela Costa Street, Makati City. The Agenda for the meeting shall be as follows; 1. Call to order; 2. Certification by the Corporate Secretary on the sending of notices and existence of a quorum; 3. Reading and approval of minutes of the 1998 annual meeting of the stockholders; 4. Report of the President; 5. Approval of the 1998 Financial Statements; 6. Ratification of actions taken by the Board of Directors and Officers of the Corporation since the last annual meeting of the stockholders; 7. Appointment of independent auditors; 8. Election of Directors; 9. Approval of Stock Dividend Declaration; 10. Transaction of such other matters as may properly come before the meeting; and 11. Adjournment The record date for determination of the stockholders entitled to notice of, to vote and be voted at said meeting is at the close of business hours on June 16, 1999. cdt 3. Declaration of a 50% stock dividends to stockholders of record as of July 30, 1999 to be taken from the retained earnings of the company as of December 31, 1998. Thank you for your kind attention. STOCK DIVIDEND UPDATE STOCK 50% EX-STOCK July 26, 1999 RECORD DATE July 30, 1999 Very truly yours, PCI LEASING AND FINANCE, INC. By: (SGD.) LUTGARDA C. BAQUIRAN-PERALTA Corporate Secretary