PSE Circular for Brokers No. 2187-98

September 21, 1998 PSE CIRCULAR FOR BROKERS NO. 2187-98 September 18, 1998 Philippine Stock Exchange PSE Center, Exchange Road, Ortigas Center, Pasig City Attention: Disclosure Department Listing and Disclosure Group Gentlemen : We reply to the letter of your Ms Luisa Buenaventura requesting clarification or verification of the news article published in the September 18, 1998 issue of the Philippine Daily Inquirer in regard to "the Supreme Court's First Division final ruling lifting the sequestration on PLDT shares and upholding the right of the Cojuangco family to vote on those shares until the courts shall have determined who their actual owners are" dctai Please be advised that we have no knowledge or information about the alleged final ruling of the Supreme Court on the lifting of the sequestration on PLDT shares. Thank you Very truly yours, PHILIPPINE LONG DISTANCE TELEPHONE COMPANY (SGD.) ENRIQUE D. PEREZ Secretary