PSE Circular for Brokers No. 1790-98

July 31, 1998 PSE CIRCULAR FOR BROKERS NO. 1790-98 FACSIMILE TRANSMISSION TO : The Securities & Exchange Commission Money Market Operations Department Attn: Ms. Linda A. Daoang, Director (Fax No. 727-51-03) The Philippine Stock Exchange Disclosure Department, Listing and Disclosure Group Attn: Mr. Reynold P. Ong, Vice-President (Fax No. 636-08-09) FR : Asia Trust Bank DATE : 30 July 1998 Please be informed that today, 30 July 1998, at the Board Meeting, the Board had passed the following resolutions: 1. Calling and setting the Annual Stockholders Meeting on 19 November 1998 at 2.00 P.M. at Makati City, in accordance with the authority vested in the Board of Directors by virtue of Article VI, Section 5 of the Amended by Law. 2. Closing of the books of the Corporation on 21 September 1998 for purposes of setting the record date and determining the Stockholders entitled to notice and to vote at the Annual Stockholders Meeting in accordance with Article VI, Section 8 of the Amended by Law. Copy of the pertinent resolution to follow. Very truly yours, (SGD.) MA. NERIZA C. SAN JUAN Vice President Corporate Legal Counsel