PSE Circular for Brokers No. 1499-99

June 25, 1999 PSE CIRCULAR FOR BROKERS NO. 1499-99 June 24, 1999 Philippine Stock Exchange 4/F Philippine Stock Exchange Center PSE Center, Exchange Road Ortigas Center, Pasig City Metro Manila Attention: Disclosure Department Listing and Disclosure Group Gentlemen : In compliance with the disclosure requirements of the Philippine Stock Exchange, we advise that during the meeting of the Board of Directors of our Company on June 24, 1999, the following cash dividends were declared: 1. P0.50 per share on the Company's Series A 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending July 31, 1999, payable August 31, 1999 to the holders of record on July 23, 1999. 2. P0.50 per share on the Company's Series I 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending July 31, 1999, payable August 31, 1999 to the holders of record on July 23, 1999. LexLib 3. P0.50 per share on the Company's Series R 10% Convertible Preferred Stock, for the semi-annual period ending July, 31, 199, payable August 31, 1999 to the holders of record on July 23, 1999. 4. P0.50 per share on the Company's Series W 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending July 31, 1999, payable August 31, 1999 to the holders of record on July 23, 1999. Likewise in the same meeting, the Board of Directors has configured and ratified a cash dividend of P0.000375/share/day (computed from date of issued up to June 15, 1999) on the Series IV Cumulative Non-Convertible Redeemable Preferred Stock paid on June 15, 1999 to the holder of record on June 15, 1999. cdlex Thank you. CASH DIVIDEND (SERIES A, I, R, W) CASH P0.50 Per Share EX-CASH RECORD DATE July 23, 1999 DATE PAYABLE August 31, 1999 Very truly yours, (SGD.) MA. LOURDES C. RAUSA-CHAN Corporate Secretary