Philippine National Bank
PSE Circular for Brokers No. 2214-98 • Philippine Stock Exchange • Circulars for Brokers • Sep 24, 1998
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September 24, 1998 PSE CIRCULAR FOR BROKERS NO. 2214-98 SUBJECT : Philippine National Bank Philippine National Bank ("PNB") confirmed to the Exchange a news article published in the September 23, 1998 issue of Business World which reported of PNB and other Government Financial Institutions' (GFIs) allowance for probable losses for their equity investment in Philippine Airlines. PNB, in its letter to the Exchange dated September 23, 1998 disclosed that: ". . . To date, PNB has set aside specific valuation reserve aggregating P403.0 million for PR Holdings, which is equivalent to 53% of the equity investment." For your information. LLjur (SGD.) REYNOLD P. ONG Vice-President, Listings and Disclosure Group
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