La Tondeña Names New President

July 29, 1999 PSE CIRCULAR FOR BROKERS NO. 1878-99 July 28, 1999 LA TONDEA NAMES NEW PRESIDENT The Board of Directors & La Tondea Distillers, Inc. (LTDI) has appointed Mr. Paulino A. Mediarito, Jr. as President and Director of the Company effective August 15, 1999, vice Mr. Bernabe L. Navarro, Jr. Navarro will return to San Miguel Corporation as Executive Assistant to the President and COO. He will continue to be a member of the LTDI Executive Committee and will assist in the transition of the new LTDI President. LLjur "I have full confidence in my colleague, Mr. Mediarito. I am certain he will sustain and build on the gains that LTDI continues to make. I will assist him in every way I can during the transition," Navarro said. Mediarito has been with San Miguel for over 27 years, starting as an engineer in the old brewery at Aviles. He rose through the ranks, occupying key positions in San Miguel Brewing Philippines and the corporate headquarters. He served as managing director for the San Miguel Shunde Brewery Co., Ltd. in China from 1994 to 1997, where he acquired valuable broadening experience in managing operations overseas under very challenging conditions. Prior to his new post, he was Vice President for Manufacturing Operations at La Tondea. Navarro has been with SMC since 1971 and rose to become Assistant Vice President and Chief Accountant in 1979. He was assigned to LTDI in 1988 as Senior Vice President and chief Finance Officer. He became the Company's Executive Vice President and COO in 1996 and then President the following year.