SPI Technologies, Inc. Additional Listing

September 8, 1998 PSE CIRCULAR FOR BROKERS NO. 2094-98 SUBJECT : SPI Technologies, Inc. Additional Listing Please be informed that on August 13, 1997, the Exchange approved subject to the actual conversion of convertible bonds, the listing application of SPI TECHNOLOGIES, INC . ("the Company") to list 9,677,420 common shares, with a par value of P1.00 per share, to cover the underlying shares of the P150 million worth of Convertible Bonds. The Board of Directors of the Company, in their meeting held on April 24, 1998, confirmed the adjustment to the conversion price of the Zero Coupon Convertible Bonds from P15.50 to P11.071, on account of the 40% stock dividend. Accordingly, all conversions after the record date, April 15, 1998, will be based on the conversion price of P11.071. On August 27, 1998, the Exchange approved the listing application of the Company to list additional 340,000 common shares, with par value of P1.00 per share, to cover the underlying shares of the remaining Convertible Bonds. In connection with this, please be advised that the Company has received a notice from a bondholder for the conversion of the P3,764,292.76 worth of convertible bonds to 340,001 common shares. cdlex In view thereof, the listing of the 340,001 common shares is set for Wednesday, September 9, 1998 . This brings a total of 10,017,420 common shares already listed arising from the conversion of the Bonds worth P150,000,000.00. For your information and guidance. (SGD.) RAFAEL L. LLAVE Chief Operating Officer