Approval by the Shareholders of the Declaration of 20% Stock Dividends, Increase in the Authorized Capital Stock and Election of Directors

July 23, 1999 PSE CIRCULAR FOR BROKERS NO. 1829-99 July 21, 1999 PHILIPPINE STOCK EXCHANGE Disclosure Department PSE Center Exchange Road Ortigas Center, Pasig City Fax No. 636-0809 Attention: Head, Disclosure Department SUBJECT : Approval by the Shareholders of the Declaration of 20% Stock Dividends, Increase in the Authorized Capital Stock and Election of Directors Gentlemen : Please be advised that at the Annual Meeting of Shareholders of Euro-Med Laboratories Phil., Inc., held on July 21, 1999 at 10:00 a.m. at the Philippine Columbian Association, Quirino Avenue, Paco, Manila in which a quorum was present throughout, the shareholders unanimously approved the declaration of a twenty (20%) percent stock dividend from the unrestricted retained earnings of the Corporation as of 30 June 1999 and payable to stockholders of record as of 16 August 1999. The shareholders further approved the increase in the authorized capital stock of the Corporation from Two Billion Pesos (P2,000,000,000.00) to Two Billion Six Hundred Million Pesos (P2,600,000,000.00) and the application of the stock dividend-as subscription to the increase in the authorized capital. Such stock dividends shall be issued as soon thereafter as the necessary SEC and PSE approvals shall have been secured. In the same meeting, the following were elected to the Board of Directors for the year 1999-2000: Dr. Tomas P. Maramba, Jr. Dr. William Padolina Mrs. Georgiana S. Evidente Mr. Enrique C. Yap Dr. Evangeline V. Baviera Mr. Johnny C. Yap Dr. Teodora D. Tan They shall serve as such for the ensuing year and until the election and qualification of their successors. Very Truly Yours, (SGD.) RONNIE G. RAGONTON Corporate Secretary