PSE Circular for Brokers No. 1402-98

June 24, 1998 PSE CIRCULAR FOR BROKERS NO. 1402-98 SECURITIES AND EXCHANGE COMMISSION SEC FORM 11-C CURRENT REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND RSA RULE 11(a)-1(b)(3) THEREUNDER 1. Date of this Report: June 23, 1998 2. SEC Identification Number: PW-102 3. BIR Tax Identification Code: 350-000-101-528 4. Name of Registrant as specified in its Charter: Manila Electric Company 5. Country of Incorporation: Philippines 6. Industry Classification: (SEC use only) 7. Address: Lopez Building, Ortigas Avenue, Pasig City 8. Telephone Numbers: 631-5571 and 631-5572 9. Former name or former address: Not applicable 10. Securities registered pursuant to Sections 4 and 8 of RSA: Number of Shares of Title of Each Cash Common Stock Outstanding Class "A" 502,297,435 Class "B" 334,864,956 Total 837,162,391 ========= 11. Item Number reported: 4 and 9 Item 4 . Election of Registrant's Directors At the annual meeting of stockholders of the registrant held on June 23, 1998, the following persons were elected directors to serve for the ensuing year and until the election and qualification of their successors: aisadc Mr. Felipe B. Alfonso Mr. Florido P. Casuela Mr. Peter D. Garrucho, Jr. Mr. Monico V. Jacob Mr. Manuel M. Lopez Mr. Oscar M. Lopez Mr. Jose P. Magno, Jr. Mr. Luis M. Mirasol, Jr. Mr. Ramon R. del Rosario, Jr. Mr. Washington Z. Sycip Mr. Renato C. Valencia Item 9 . Other Events At the said annual meeting, the stockholders appointed Sycip, Gorres, Velayo & Co., as the registrant's external auditors. SIGNATURE Pursuant to the requirements of the Revised Securities Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MANILA ELECTRIC COMPANY Registrant (SGD.) ATILANO S. GUEVARRA, JR. Assistant Corporate Secretary