Manila Broadcasting Company

September 15, 1998 PSE CIRCULAR FOR BROKERS NO. 2133-98 SUBJECT : Manila Broadcasting Company Further to Circular No. 2107-98 dated September 10, 1998, Manila Broadcasting Company ("MBC") furnished the Exchange on September 11, 1998 a copy a SEC Form 34-C (Definitive Information Statement) in connection with its Special Stockholders' Meeting which will be held on October 5, 1998 , at 8:30 a.m., at the 6th Floor, FJE Building, 105 Esteban St., Legaspi Village, Makati City. The agenda for the meeting shall be as follows: 1. Call to order 2. Certification of notice and quorum 3. Approval of Amendment to Article Seventh of Articles of Incorporation Increase in capital from One Billion to Two Billion Pesos Private Placement of Cebu Broadcasting Company, Philippine Broadcasting Company and Pacific Broadcasting Systems, Inc. as subscription to the increase in consideration of assets to be received by MBC at the appraised value of P703,662,152.00 Assets to be exchanged for MBC shares at One Peso par value per share 4. Other matters 5. Adjournment Stockholders of record as of October 2, 1998 are entitled to notice of, and to vote at, said meeting. A copy of MBC's Definitive Information Statement is available for reference at the PSE Library and PSE-Plaza Administration Office. For your information. (SGD.) REYNOLD P. ONG Vice-President, Listings and Disclosure Group