Prudential Bank

August 9, 1999 PSE CIRCULAR FOR BROKERS NO. 1967-99 SUBJECT : Prudential Bank Prudential Bank ("PB") informed the Exchange that the Securities and Exchange Commission (SEC) approved on July 29, 1999 its Amended Articles of Incorporation, particularly the amendment to Article VII, reflecting the increase in its authorized capital stock from P575,000,000.00, divided into 4,250,000 common shares and 1,500,000 preferred shares with a par value of P100.00 per share, to P1,150,000,000.00, divided into 10,000,000 common shares and 1,500,000 preferred shares with a par value of P100.00 per share. cdt In relation thereto, the SEC, in an Order of even date, fixed August 28, 1999 as the record date for the stockholders entitled to the 39.33047% stock dividend declared by the Board of Directors on May 20, 1998 and approved by the stockholders on August 11, 1998. For your information. STOCK DIVIDEND UPDATE STOCK 39.33047% EX-STOCK August 24, 1999 RECORD DATE August 28, 1999 (SGD.) JOSE LUIS U. YULO, JR. President and CEO