Prudential Bank

July 17, 1998 PSE CIRCULAR FOR BROKERS NO. 1656-98 SUBJECT : Prudential Bank Further to Circular No. 1115-98 dated May 25, 1998, Prudential Bank ("PB") furnished the Exchange on July 16, 1998 a copy SEC Form 34-C (Definitive Information Statement) with attached Proxy Form in connection with its Special Stockholders' Meeting which will be held on August 11, 1998 , at 4:00 p.m., at the Board Room, 3rd Floor, Prudential Bank Building, 6787 Ayala Avenue, Makati City. The agenda for the meeting shall be as follows: cdll 1. Call to Order 2. Proof of Notice 3. Determination of Quorum 4. Approval of the Minutes of the Annual Stockholders' Meeting held on March 31, 1998 5. Amendment of the First Paragraph of Article Seventh of the Articles of Incorporation, thereby increasing the Capital Stock of the Bank 6. Approval of the Declaration of Stock Dividends to Common Shareholders 7. Other Business 8. Adjournment For the purpose of the meeting, only stockholders of record as of July 15, 1998 are entitled to notice of, and to voted at, said meeting. A copy of PB's Definitive Information Statement is available for reference at the PSE Library and PSE-Plaza Administration Office. For your information. (SGD.) REYNOLD P. ONG Vice-President, Listings and Disclosure Group