PSE Circular for Brokers No. 1791-99

July 20, 1999 PSE CIRCULAR FOR BROKERS NO. 1791-99 To Ms. Grace B. De Guia Disclosure Department Listings and Disclosure Group The Philippine Stock Exchange, Inc. 4th Floor, Philippine Stock Exchange Center, Exchange Road, Ortigas Center, Pasig City Fax No. (632) 636-0809 From Deogracias N. Vistan, President & CEO Fax No. (632) 814-5592, (632) 894-8717 Date/Time 8:56AM July 20, 1999 Subject Alleged Merger with Far East Bank Pages _1_, including this one This message is intended only for the use of the individual or entity to which it is addressed and may contain information that is privileged, confidential and exempt from disclosure, if you are not the intended recipient of the employee responsible for delivering the message to the intended recipient, you are notified that any dissemination, distribution or copying of this communication is strictly prohibited. If you have received this communication in error, please notify us immediately by phone (collect if required), and return the original message to us by mail or alternatively, immediately destroy this message. Thank you. prcd Dear Ms De Guia, This is in response to your fax message dated today, which we received earlier this morning. In this regard we wish to advise that Solidbank is not involved in any merger talks or discussions with Far East Bank, or with any other bank for that matter. (SGD.) DEOGRACIAS N. VISTAN President & CEO