PSE Circular for Brokers No. 1514-98

July 3, 1998 PSE CIRCULAR FOR BROKERS NO. 1514-98 July 2, 1998 The Philippine Stock Exchange, Inc. Philippine Stock Exchange Centre Exchange Road, Ortigas Center Pasig City FAX No. 636-0809 Attention: Mr . Ruben L . Almadro VP Compliance & Surveillance Group Gentlemen : This refers to your letter dated today, 02 July 1998 which we received by fax at noontime. The material information that may have affected or caused the unusual movement in the trading or increase in price of the FEU shares may be the following: 1. the recent approval of the Securities and Exchange Commission of the increase in capital stock of Far Eastern University, from P80,000,000.00 to P300,000,000.00 divided into 3,000,000 shares each with a par value of P100.00 on 29 June 1998; 2. in connection with said increase in capitalization, the Commission's resolution to authorize the issuance of 1,258,552 shares of the par value of P100.00 or P125,855,200.00 to cover the 200% stock dividend declared by the FEU Board of Trustees on 11 February 1998 and ratified by the corporation's stockholders representing 2/3 of the outstanding capital stock at its special meeting held on 27 March 1998, issuance of the shares of stock to stockholders on record as of 29 July 1998. cdlex 3. the recent declaration of P12.00 per share cash dividend to all stockholders on record as of 26 June 1998, payable on 13 July 1998. Very truly yours, FAR EASTERN UNIVERSITY (SGD.) FE V. CANILAO Chief Financial Officer