PSE Circular for Brokers No. 1650-98

July 17, 1998 PSE CIRCULAR FOR BROKERS NO. 1650-98 July 16, 1998 PHILIPPINE STOCK EXCHANGE DISCLOSURE DEPARTMENT Listing and Disclosure Group 4th Floor, Philippine Stock Exchange Centre PSE Center, Exchange Road Ortigas Centre, Pasig City Gentlemen : This is to certify that pursuant to its buy-back program, Mabuhay Vinyl Corporation purchased on 15 July 1998 MVC shares detailed herein-below: cdt No. of Shares Price Total Amount of Purchase 200,000 P0.49 P98,000 200,000 0.48 96,000 10,000 0.50 5,000 2,000,000 0.50 1,000,000 (SGD.) AISSA V. ENCARNACION Assistant Corporate Secretary Subscribed and sworn to before me on this 16th day of July 1998, affiant exhibiting to me her Community Tax Certificate No. 09160547, issued at Manila City on January 23, 1998. GINGER S. CASTILLO NOTARY PUBLIC Doc. No.___; Page No.___; Book No.___; Series of 1998.