Security Bank Corporation

July 30, 1998 PSE CIRCULAR FOR BROKERS NO. 1783-98 SUBJECT : Security Bank Corporation Further to Circular No. 1537-98 dated July 6, 1998, Security Bank Corporation ("SECB") furnished the Exchange a copy of the company's Certificate of Filing of Amended Articles of Incorporation, particularly the amendment to Article VII, as approved by the Securities and Exchange Commission (SEC) on July 29, 1998, reflecting the increase of its authorized capital stock from P4,500,000,000 . 00 , divided into 450,000,000 shares, to P6,000,000,000 . 00 , divided into 600,000,000 shares with a par value of P10.00 per share In connection with the said increase in capitalization, the SEC in an Order dated July 29, 1998, fixed August 17, 1998 as the record date for the stockholders entitled to the 13 . 75% stock dividend declared by the Board of Directors on April 28, 1998 and ratified by its stockholders on May 26, 1998. The SEC authorized the issuance of 37,559,311 shares with a par value of P10.00 per share, equivalent to P375,593,110.00, to cover the said stock dividend. cdlex For your information. STOCK DIVIDEND UPDATE STOCK 13.75% EX-STOCK August 11, 1998 RECORD DATE August 17, 1998 (SGD.) REYNOLD P. ONG Vice-President, Listings and Disclosure Group