First Philippine Holdings Corporation Additional Listing

June 29, 1998 PSE CIRCULAR FOR BROKERS NO. 1470-98 SUBJECT : First Philippine Holdings Corporation Additional Listing Please be informed that on June 11, 1997, the Exchange approved subject to the actual availment and full payment of the shares, the listing application of FIRST PHILIPPINE HOLDINGS CORPORATION (the "Company") to list common shares consisting of 10,800,000 class "A" and 7,200,000 class "B" shares, with a par value of P10.00 per share, to cover the Company's Employee Stock Purchase Plan (ESPP) and Executive Stock Option Plan (ESOP). In this connection, please be advised that 27,589 common shares, divided into 16,545 class "A" shares and 11,044 class "B" shares, have been availed of and fully paid under the Company's Executive Stock Option Plan and Employee Stock Purchase Plan. In view thereof, the listing of 27,589 common shares availed under the stock option p additional 18,000,000 lan is set for Wednesday, July 8, 1998 . This brings to a total of 1,477,760 shares that are already listed under the Company's Executive Stock Option Plan and Employee Stock Purchase Plan. For your information and guidance. (SGD.) REYNOLD P. ONG Vice President, Listings and Disclosure Group