PSE Circular for Brokers No. 1509-99

June 25, 1999 PSE CIRCULAR FOR BROKERS NO. 1509-99 June 24, 1999 PHILIPPINE STOCK EXCHANGE, INC . 4/F Philippine Stock Exchange Centre Exchange Road, Ortigas Center Pasig City, Metro Manila Attention: Listings and Disclosure Group Gentlemen : Please be advised that during the annual stockholders' meeting held this afternoon, the following stockholders were elected as members of the Board of Directors of the Corporation for the year 1999-2000 to hold office as such until their successors are elected and qualified: Benito Tan Guat Jaime Dichaves Willy G. Ocier Edmundo L. Tan Gregorio T. Yu Luis P. Lorenzo, Jr. Hans T. Sy A. Bayani K. Tan Jerry C. Tiu Ma. Louisa M. Gonzales Wilson L. Sy George L. Go Washington Z. Sycip Christopher R. Cu Cesar E. A. Virita In the organizational meeting of the Board held immediately after the stockholders' meeting, the following persons were elected as officers of the Corporation for the year 1999-2000 to serve as such until their successors shall have been duly elected and qualified: Benito Tan Guat Chairman of the Board Willy G. Ocier Vice-Chairman Gregorio T. Yu President & Chief Executive Officer Eric O. Recto SVP & Chief Financial Officer A. Bayani K. Tan Corporate Secretary Ma. Louisa M. Gonzales Asst. Corporate Secretary Fernando R. Santico, Jr. VP-Construction B. Patrick Syling VP-Logistics & Procurement Carlos T. Delfino VP-Planning Belinda Lim-Herrera VP-Marketing Conrad Nicholson M. Celdran VP & General Manager, Tagaytay Highlands Manuel A. Gana VP-Corporate Development The following directors were elected as members of the Executive Committee of the Corporation: Willy G. Ocier Chairman Gregorio T. Yu Wilson L. Sy Jaime Dichaves Hans T. Sy The following directors were elected as members of the Compensation & Stock Options Committee of the Corporation: Wilson L. Sy Jerry C. Tiu Luis P. Lorenzo, Jr Thank you for your kind attention. Very truly yours, (SGD.) MA. LOUISA M. GONZALES Assistant Corporate Secretary