Metropolitan Insurance Company

June 16, 1998 PSE CIRCULAR FOR BROKERS NO. 1330-98 SUBJECT : Metropolitan Insurance Company Metropolitan Insurance Company ("MET") furnished the Exchange on June 15, 1998 a copy of SEC Form 34-C (Definitive Information Statement) in connection with its Annual Stockholders' Meeting which will be held on Monday, June 29, 1998 , at the 3rd Floor, The Athenaeum Building, 160 Alfaro Street, Salcedo Village, Makati City, at 3:00 p.m., for the following purposes: 1. To approve the minutes of the last annual meeting of stockholders held on 30 June 1997 2. To approve the 1997 financial accounts and reports 3. To ratify the appointment of Sycip, Gorres, Velayo & Co. as the independent public accountants for fiscal year 1998 4. To ratify and approve all acts and proceedings of the Board of Directors and Officers for the Preceding Year 5. To elect seven (7) directors 6. To transact such other business as may properly come before the meeting or any adjournments thereof. Stockholders of record as of June 8, 1998 are entitled to notice of, and to vote at, said meeting. A copy of MET's Definitive Information Statement is available for reference at the PSE Library and PSE-Plaza Administration Office. For your information. (SGD.) REYNOLD P. ONG Vice-President, Listings and Disclosure, Group