Equitable Banking Corporation

July 5, 1999 PSE CIRCULAR FOR BROKERS NO. 1627-99 SUBJECT : Equitable Banking Corporation Further to Circular for Brokers No. 1131-99 dated May 19, 1999, Equitable Banking Corporation ("EBC") furnished the Exchange a copy of its SEC Form 34-C (Definitive Information Statement), in connection with its Special Stockholders' Meeting which will be held on July 20, 1999 , at 3:00 p.m., at the Coral Terrace, Holiday Inn Manila, United Nations Avenue, Ermita, Manila. The agenda for the meeting shall be as follows: 1. Call to Order 2. Certification of Notice and Quorum 3. Approval of the Minutes of the Annual Stockholders' Meeting held on April 20, 1999 4. Amendment of Article Seventh of the Amended Articles of Incorporation for the purpose of (a) increasing the authorized capital stock from P5.0 billion to P10.0 billion and (b) denial of pre-emptive right of stockholders to any issue or sale of shares or other security by the Company 5. Approval of the Plan of Merger between Equitable Banking Corporation and Philippine International Commercial Bank 6. Other Business 7. Adjournment As previously announced, stockholders of record as of June 7, 1999 are entitled to notice of, and to vote at, said meeting. A copy of EBC's Definitive Information Statement is available for reference at the PSE Library and PSE-Plaza Administration Office. For your information. (SGD.) JOSE LUIS U. YULO, JR. President and CEO