PSE Circular for Brokers No. 1458-98

June 29, 1998 PSE CIRCULAR FOR BROKERS NO. 1458-98 June 26, 1998 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. June 26, 1998 Date of Report (Date of earliest event reported) 2. SEC Identification Number 19073 3. BIR Tax Identification No. 350-000-288-698 4. FIRST PHILIPPINE HOLDINGS CORPORATION Exact name of registrant as specified in its charter 5. N/A Province, country or other jurisdiction of incorporation 6. (SEC Use Only) Industry Classification Code: 7. 6th Floor, Benpres Building, Meralco Avenue 1600 cor. Exchange Road., Pasig City Postal Code Address of principal office 8. 2-631-8024 to 30 Registrant's telephone number, including area code 9. N/A Former name or former address, if changed since last report 10. Securities registered pursuant to Sections 4 and 8 of the RSA Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding Class "A" Common Shares 242,912,631 shares Class "B" Common Shares 152,249,234 shares Total 395,161,865 shares Long Term Commercial Paper (LTCP) P2,000,000,000 11. Indicate the item numbers reported herein: Item No. 4 Item 4 On June 26, 1998, First Philippine Holdings Corporation (FPHC) entered into a Memorandum of Understanding (MOU) with Corporate Information Solutions, Inc. (CIS), a subsidiary of Meralco. The MOU provides for the sale of all the shares of FPHC in First Philippine Software Corporation, one of the three (3) software companies under the Lopez Group. The decision is part of the process to rationalize the investment in information technology under one group. FIRST PHILIPPINE HOLDINGS CORPORATION By: (SGD.) RODOLFO R. WAGA, JR. Asst . Corporate Secretary