Declaration of Stock Dividends and Increase in the Authorized Capital Stock of the Corporation

July 9, 1999 PSE CIRCULAR FOR BROKERS NO. 1688-99 July 8, 1999 PHILIPPINE STOCK EXCHANGE Disclosure Department PSE Center Exchange Road Ortigas Center, Pasig City Fax No. 636-0809 Attention: Head, Disclosure Department SUBJECT : Declaration of Stock Dividends and Increase in the Authorized Capital Stock of the Corporation Gentlemen : Please be advised that the Board of Directors of Euro-Med Laboratories Phil. Inc., at its special meeting held today, 8 July 1999 at 12:30 p.m., in which a quorum was present throughout, approved the declaration of a twenty (20%) percent stock dividend from the unrestricted retained earnings of the Corporation as of 30 June 1999 and payable to stockholders of record as of 16 August 1999. The Board of Directors further approved to increase the authorized capital stock of the Corporation from Two Billion Pesos (P2,000,000,000.00) to Two Billion Six Hundred Million Pesos (P2,600,000,000.00) and apply the stock dividend as subscription to the increase. Since the annual meeting of the stockholders will take place on 21 July 1999, the Board further approved to amend the agenda and include the foregoing for the approval of the stockholders if SEC requirements can be complied with. Otherwise, a special meeting of the stockholders shall be called for the necessary approvals. llcd The stock dividend of twenty (20%) percent is equivalent to two hundred million (200,000,000) shares at par value based on the issued and outstanding capital stock of the Corporation of one billion (1,000,000,000) shares with a par value of P1.00. STOCK DIVIDEND STOCK 20% EX-STOCK AUGUST 10, 1999 RECORD DATE AUGUST 16, 1999 DATE PAYABLE TO BE ANNOUNCED Very Truly Yours, (SGD.) RONNIE G. RAGONTON Corporate Secretary