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Atty. Manuel Lopez

PSE Circular for Brokers No. 195-98 • Philippine Stock Exchange • Circulars for Brokers • Feb 24, 1998

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February 24, 1998 PSE CIRCULAR FOR BROKERS NO. 195-98 Atty. Manuel Lopez Head, Compliance & Surveillance Dept. Philippine Stock Exchange, Inc. Ortigas Center Pasig City, Metro Manila Dear Sir : In compliance with the requirement on corporate disclosure, we respectfully inform the Philippine Stock Exchange, Inc. through your good office, of the following development within PNCC: 1. Two separate "Notices of Award" were recently received by PNCC from the Department of Public Works and Highways and the Bases Conversion and Development Authority (BCDA) for the Phase I of the Agno and Allied Rivers Urgent Rehabilitation Project; and the construction of a sewage treatment plant at the Diego Silang Village in Fort Bonifacio. This is all for the present. We will promptly inform the Philippine Stock Exchange, Inc. through your good office, of developments within the corporation. Very truly yours, (SGD.) ROGELIO L. LUIS President & CEO

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