Far Eastern University

July 2, 1998 PSE CIRCULAR FOR BROKERS NO. 1507-98 SUBJECT : Far Eastern University Further to Circular No. 135-98 dated February 12, 1998, Far Eastern University ("FEU") informed the Exchange, in a letter dated July 1, 1998, that the Securities and Exchange Commission (SEC), approved on June 29, 1998, the company's Amended Articles of Incorporation, particularly the amendment to Article VII, reflecting the increase of its authorized capital stock from P80,000,000 . 00 , divided into 800,000 shares, to P300,000,000 . 00 , divided into 3,000,000 shares with a par value of P100.00 per share. cdt In connection with the said increase in capitalization, the SEC, in an Order dated June 29, 1998, fixed July 29, 1998 as the record date for the stockholders entitled to the 200% stock dividend declared by the Board of Directors on February 11, 1998 and ratified by its stockholders on March 27, 1998. The SEC authorized the issuance of 1,258,552 shares, with a par value of P100.00 per share, equivalent to P125,855,200.00 to cover the said stock dividend. For your information. (SGD.) REYNOLD P. ONG Vice-President, Listings and Disclosure Group STOCK DIVIDEND UPDATE STOCK 200% EX-STOCK July 23, 1998 RECORD DATE July 29, 1998