PSE Circular for Brokers No. 1867-98

August 11, 1998 PSE CIRCULAR FOR BROKERS NO. 1867-98 August 10, 1998 DISCLOSURE DEPARTMENT Listings and Disclosure Group Philippine Stock Exchange, Inc. 4/F Philippine Stock Exchange Centre Exchange Road, Ortigas Center Pasig City Attention: Mr . Reynolds P . Ong Vice-President, Listings and Disclosure Group RE : Sinophil Corporation Amended Annual Report SEC Form 11-A/A-1 Gentlemen : As discussed with your Ms. Arlene Edades and in connection with the referenced matter, in lieu of submitting 200 copies of our Amended Annual Report (Report), hereunder are the pertinent items which were added in the Report which we filed with the Securities and Exchange Commission (SEC) and PSE. " Employees . Since the Company is a holding company its business is not manpower intensive and its transactions extremely manageable through temporary secondment of personnel of its parent company/affiliates on an as needed basis. This is resorted to likewise in keeping with austerity measures due to the present economic slump. The Company's major transactions are referred to its external counsel. Involvement in Certain Legal Proceedings None of the incumbent directors of Sinophil are involved in a material pending legal proceeding. Item 10 . Executive Compensation Summary Compensation Table (Annual Compensation) Name/Principal Position Year Salary Bonus Other Annual Compensation Gregorio T. Yu 1996 President & CEO 1997 1998 Jaime C. Gonzalez 1996 Chairman of the Board 1997 1998 Roberto V. Ongpin 1996 Chairman of the 1997 Executive Committee 1998 Eric O. Recto 1996 Vice President for 1997 Finance 1998 Total for the Group 1996 P 260,000.00 1997 P 1,885,000.00 1998 P 1,885,000.00 Other than the aforementioned Executive Officers, no other Director or Executive Officer receives compensation." Thank you for your kind attention. Very truly yours, (SGD.) MELANIE ANN L. ZERRUDO Assistant Corporate Secretary