PSE Circular for Brokers No. 1381-98

June 20, 1998 PSE CIRCULAR FOR BROKERS NO. 1381-98 The Philippine Stock Exchange, Inc. Philippine Stock Exchange Centre Exchange Road, Ortigas Center Pasig City FAX No. 636-0809 Attention: Ms . Ma . Isabel T . Garcia Head , Listings Group Gentlemen : Please be informed that at the annual stockholders' meeting held today, June 20, 1998, the following resolutions were duly approved, ratified and confirmed: (1) RESOLVED , That the minutes of the annual meeting of stockholders held on June 21, 1997 and the minutes of the special meeting of stockholders held on March 27, 1998 be approved as presented. (2) RESOLVED, That the Academic Report of the President for the fiscal year 1997-1998 be noted as it is hereby noted. RESOLVED, FURTHER, That the Annual Report covering the operations for the fiscal year 1997-1998 be approved, as it is hereby approved. (3) RESOLVED, That the acts of the officers and trustees in the furtherance of the matters covered by the annual report for the fiscal year 1997-1998 be, as they are hereby approved, ratified and confirmed. (4) RESOLVED , That the following are hereby elected members of the Board of Trustees for the fiscal year 1998-1999 until their successors are duly elected and qualified: Mrs. Lourdes R. Montinola Dr. Edilberto C. de Jesus Mr. Aurelio R. Montinola III Mrs. Rosario M. Panganiban Mrs. Angelina P. Jose Dr. Wilfrido C. Tecson Dr. Paulino Y. Tan Bro. Andrew Gonzalez, FSC Atty. Ganna M. Romero-Salas (5) RESOLVED , That the appointment of Vicente E. Reyes and Associates as External Auditor of Far Eastern University, be as it is hereby renewed for another fiscal year, 1998-1999. (6) RESOLVED , That a vote of appreciation be, as it is hereby extended to the Board of Trustees, and the officials, faculty and staff of Far Eastern University for having done a good job. (SGD.) ANGELINA P. JOSE Corporate Secretary