PSE Circular for Brokers No. 166-00

January 26, 2000 PSE CIRCULAR FOR BROKERS NO. 166-00 January 25, 2000 Philippine Stock Exchange 4/F Philippine Stock Exchange Center PSE Center, Exchange Road Ortigas Center, Pasig City Attention : Disclosure Department Listings and Disclosure Group Gentlemen: In compliance with the disclosure requirements of the Philippine Stock Exchange, we advise that during the meeting of the Board of Directors of our Company on January 25, 2000, the following cash dividends were declared: 1. P0.50 per share on the Company's Series A 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending January 31, 2000, payable February 29, 2000 to the holders of record on February 8, 2000. cdll 2. P0.50 per share on the Company's Series I 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending January 31, 2000, payable February 29, 2000 to the holders of record on February 8, 2000. 3. P0.50 per share on the Company's Series R 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending January 31, 2000, payable February 29, 2000 to the holders of record on February 8, 2000. 4. P0.50 per share on the Company's Series W 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending January 31, 2000, payable February 29, 2000 to the holders of record on February 8, 2000. 5. P0.50 per share on the Company's Series B 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending February 29, 2000, payable March 31, 2000 to the holders of record on February 24, 2000. 6. P0.50 per share on the Company's Series F 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending February 29, 2000, payable March 31, 2000 to the holders of record on February 24, 2000. 7. P0.50 per share on the Company's Series Q 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending February 29, 2000, payable March 31, 2000 to the holders of record on February 24, 2000. 8. P0.50 per share on the Company's Series V 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending February 29, 2000, payable March 31, 2000 to the holders of record on February 24, 2000. 9. P0.50 per share on the Company's Series Z 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending February 29, 2000, payable March 31, 2000 to the holders of record on February 24, 2000. 10. P3,375/share/quarter on the Company's Series IV Cumulative Non-Convertible Redeemable Preferred Stock, payable March 15, 2000 to the holders of record on March 15, 2000. prcd Thank you. Very truly yours, (SGD.) MA. LOURDES C. RAUSA-CHAN Corporate Secretary CASH DIVIDEND (Series A, I, R, W) CASH - P0.50 per share EX-CASH - February 2,2000 RECORD DATE - February 18, 2000 DATE PAYABLE - February 29, 2000 CASH DIVIDEND (Series B, F, Q, V, Z) CASH - P0.50 per share EX-CASH - February 18, 2000 RECORD DATE - February 24, 2000 DATE PAYABLE - March 31, 2000