Belle Corporation

July 17, 1998 PSE CIRCULAR FOR BROKERS NO. 1651-98 July 15, 1998 PHILIPPINE STOCK EXCHANGE 12/F Tektite Tower I Tektite Road, Ortigas Ave. Pasig, Metro Manila RE : Belle Corporation Gentlemen : Enclosed is/are copies of "Affidavit of Loss" executed by the following stockholders: Stockholders Cit. S/A # No. of shares PAN PHILIPPINE LIFE Fil. 940716 283 INSURANCE CORP. 942044 33,333 If within ten (10) trading days from receipt thereof you have not interpose any objection on our part to issue as replacement of new subscription agreement/deed of assignment, we shall within our disposition to issue the above mentioned stockholders the appertaining replacement subscription agreement/deed of assignment. aisadc Very truly yours, PROFESSIONAL STOCK TRANSFER, INC. by: (SGD.) LEONOR M. ROBLES VP-Operations AFFIDAVIT OF LOSS PAN PHILIPPINES LIFE INSURANCE CORPORATION, a corporation duly organized and existing under and by virtue of the laws of the Republic of the Philippines, with principal office and place of business at Ground Floor, Philippine Life Center, Skyland Plaza, Gil Puyat Avenue, Makati City, represented herein by its FVP-Comptroller BEVERLY W. SERRANO, after being duly sworn in accordance with the law hereby depose and certify: 1. That PAN PHILIPPINES LIFE INSURANCE CORP. is the owner of Subscription Agreement Forms No . 940716 and 942044 for 283 and 33,333 shares respectively of Belle Corp . 2. That the said Subscription Agreement forms are missing. 3. That despite diligent efforts, said forms could not be bound. 4. That we execute this affidavit to establish the fact of loss of the forms with further end in view of notifying and of fulfilling the requirement for the payment of subscription balance with Belle Corp. IN WITNESS WHEREOF, I have hereunto affix my signature this 14th day of April 1998 at Makati City. (SGD.) BEVERLY V. SERRANO FVP-Comptroller SUBSCRIBED AND SWORN to before me this 14th day of April 1998, affiant have exhibited to me his CTC No. 09479479 issued at Makati City on Feb. 18, 1998. (SGD.) ATTY. RICARDO M. ESPINA NOTARY PUBLIC Until December 31, 1998 PTR No . 1270972/1-20-98/Makati IBP No . 455236/2-20-98/Q . C . Doc. No. 55 Page No. 11 Book No. 03 Series of 1998