Analyst Briefing

July 14, 1999 PSE CIRCULAR FOR BROKERS NO. 1717-99 July 13, 1999 PHILIPPINE STOCK EXCHANGE PSE Center, Exchange Road Ortigas Center, City of Pasig Attention: Ms . Ma . Isabel Garcia, Ms . Grace de Guia Compliance and Listing SUBJECT : Analyst Briefing Mesdames : On Wednesday, 28 July 1999 we will hold two (2) briefings at the Shangrila Edsa Plaza Hotel: The First Briefing is a Special Forum to be held from 8:00 a.m. to 12:00 Noon. This forum is recommended for technical analysts or analysts with already a certain degree of familiarity of the core businesses, industry and technology of MUSIC Corporation as this forum will be conducted at a faster pace and with much greater detail. We aim to limit the participants in this briefing so as to make the forum more manageable. For interested analysts please contact Jos Fajardo at (049) 549 1480 tel., (049) 549-1024 fax or email at [emailprotected] for the required forms. LLphil Be assured that if the same is successful we shall endeavor to schedule a similar briefing as soon as possible to give the same opportunity to more analysts. The Second Briefing will be conducted at 2.30 p.m. of the same day. The speakers in the morning briefing will be making an abridged presentation of the morning briefing and will be available to all analysts for questions. In this briefing also we will be making our second quarter disclosure and 3rd Quarter indication. Therefore on Wednesday, 28 July 1999 at the Shangrila Edsa Plaza Hotel please note the following. 8:00 a.m. to 12:00 Noon A Special Forum recommended for Technology Analysts and Analysts familiar with the Core Business of MUSIC Corporation Registration and reservation required 2:30 p.m. to 5:00 p.m. Analyst Briefing Yours truly, (SGD.) MITOS TANTUICO-ZSHORNACK VP for Corporate Affairs