PSE Circular for Brokers No. 177-99

January 29, 1999 PSE CIRCULAR FOR BROKERS NO. 177-99 SECURITIES AND EXCHANGE COMMISSION SEC FORM 11-C CURRENT REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND RSA RULE 11(a)-1(b)(3) THEREUNDER 1. January 27, 1999 Date of Report (Date of earliest event reported) 2. SEC identification No. 19065 3. BIR Tax Identification No. 053-000-282-143 4. Exact name of registrant as specified in the charter Sanitary Wares Manufacturing Corporation 5. Philippines Province, Country or other jurisdiction of incorporation or organization 6. (SEC Use Only) Industry Classification Code 7. 10th Floor, Feliza Building 108 Herrera St., Legaspi Village, Makati City Address of principal office Postal Code 8. (632) 892-9801 Registrant's telephone number, including area code 9. Not Applicable Former name, former address, and former fiscal year, if changed since last report 10. Securities registered pursuant to Sections 4 and 8 of the RSA Number of Shares of Common Stock Title of Each Class Outstanding and Amount of Debt Outstanding Common Stock P1.00 par value 295,135,010 (No debt registered under RSA) 11. Indicate the item numbers reported herein: ________ 4 and 9__________ Item 1. Changes in Control of Registrant Not applicable Item 2. Acquisition or Disposition of Assets Not applicable Item 3. Changes in Registrant's Certifying Not applicable Item 4. Resignation, Removal or Election of Registrant's Directors or Officers In the last meeting of the Company held in January 26, 1999, the Board of Directors accepted, with deep regret, the resignations of Messrs. Federico C. Pascual and Leonardo R. Dominguez, the same to take effect immediately. Messrs. Florino O. Ibaez and Naganather Vijayanathan were elected for the unexpired term of the directors whose resignations were accepted, to act as such until their successors have been duly elected and qualified. Mr. Florino O. Ibaez is the authorized representative of GSIS to the Board of Directors of Saniwares and Mr. Vijayanathan replaces Mr. Leonardo Dominguez who retired. Mr. Dominguez stays on as Treasurer of the Company. Item 5. Legal Proceedings Not applicable Item 6. Changes in Securities Not applicable Item 7. Defaults Upon Senior Securities Not applicable Item 8. Change in Fiscal Year Not applicable Item 9. Other Events The Annual Stockholders Meeting will be held on March 23, 1999, 9:00 a.m. at the New World Renaissance Hotel in. Makati City. The record date for the determination of stockholders entitled to notice and to vote at the meeting is March 1, 1999. Item 10. Financial Statements and Exhibits Not applicable SIGNATURES Pursuant to the requirements of the Revised Securities Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. (SGD.) CYNTHIA ROXAS-DEL CASTILLO Corporate, Secretary