News Publication on our Stockholders Meeting scheduled for 10 March 1998

February 25, 1998 PSE CIRCULAR FOR BROKERS NO. 214-98 PHILIPPINE STOCK EXCHANGE PSE Center, Exchange Road Ortigas Center, City of Pasig Attention: Ms . Grace de Guia Compliance and Listing SUBJECT : News Publication on our Stockholders Meeting scheduled for 10 March 1998 Dear Ms. De Guia : May we request assistance from your kind office in ensuring that our stockholders are correctly informed of our scheduled stockholders meeting. We have detected three (3) releases from Manila Times on our scheduled meeting. The first stated that it will be held on 26 February 1998. We had this corrected immediately and they released the correction in 19 February 1998. In 23 February 1998 however another schedule reverting to the 28 February 1998 date was published again. We have sought correction on this for a second time. We fear however, that the correction might not reach our shareholders in time as the 26th of February is two (2) days from now. May we request a republication of our meeting schedule which is 10 March 1998 and not 26 February 1998. LLjur Thank you for your kind and prompt attention to this request. Yours truly, (SGD.) MITOS TANTUICO-ZSHORNACK VP for Corporate Affairs TO : All Stockholders NOTICE is hereby given that there will be a special meeting of the stockholders of the Corporation on Tuesday, 10 March 1998 at 2:00 o'clock in the afternoon, at the Canlubang Golf and Country Club, Canlubang Laguna (please refer to the map enclosed), to consider the following: AGENDA 1. Call to Order; 2. Certification of Notice and Quorum; 3. Reading and Approval of Minutes of the Special Meeting of the Stockholders held on 02 June 1997; 4. Amendment of ARTICLE SEVENTH of the Articles of Incorporation of the Corporation by denying pre-emptive rights with respect to the remaining unissued shares from the original 400,000,000 authorized capital stock to be offered outside the Philippines; 5. Other matters; 6. Adjournment In accordance with the ruled of the Philippine Stock Exchange, the close of business on 04 February 1998 has been fixed as the record date for the determination of the stockholders entitled to notice of such meeting and any adjournment thereof, and to attend and vote thereat. All stockholders who will not, are unable, or do not expect to attend the meeting in person are urged to fill out, date, sign and send the enclosed proxy to the Corporation at Lot 8 Phase II B, Carmelray Industrial Park, Canlubang, Laguna or to MCPO Box 1618, 1256 Makati City, Philippines. To avoid inconvenience in registering your attendance at the meeting, you or your proxy are requested to bring identification paper(s) containing a photograph and signature, e.g. passport, driver's license, or credit card. LLphil Canlubang, Laguna, 12 February 1998 (SGD.) JIMMY S. SOO Corporate Secretary