Securities and Exchange Commission Sec Form 11-C Current Report Under Section 11 of the Revised Securities Act (RSA) And Rsa Rule 11(a)-1(b)(3) Thereunder

August 9, 1999 PSE CIRCULAR FOR BROKERS NO. 1965-99 SECURITIES AND EXCHANGE COMMISSION SEC FORM 11-C CURRENT REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND RSA RULE 11(a)-1(b)(3) THEREUNDER 1. Date of this Report: August 6, 1999 2. SEC Identification Number: PW-102 3. BIR Tax Identification Code: 350-000-101-528 4. Name of Registrant as specified in its Charter: Manila Electric Company 5. Country of Incorporation: Philippines 6. Industry Classification: (SEC use only) 7. Address: Lopez Building, Ortigas Avenue, Pasig City 8. Telephone Numbers: 631-5571 and 631-5572 9. Securities registered pursuant to Sections 4 and 8 of RSA: Number of Shares of Title of Each Class Common Stock Outstanding Class "A" 502,297,435 Class "B" 334,864,956 Total 837,162,391 ========== 10. Item Number reported: Item 9 Item 9 . Other Events (PRESS RELEASE) Meralco has decided to delay its planned offering of 10-year Yankee bonds, given the significant weakness in global financial markets this week. The Company successfully completed an extensive roadshow in Asia, Europe and the United States, which established a high level of investor confidence in Meralco. However, management felt its objectives of completing a successful inaugural offering beneficial to investors, Meralco, and the Philippines would be better met in a more stable market environment. SIGNATURES Pursuant to the requirements of the Revised Securities Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MANILA ELECTRIC COMPANY Registrant (SGD.) ROLANDO R. ARBUES Assistant Corporate Secretary