Manila Bulletin Publishing Corporation

September 25, 1998 PSE CIRCULAR FOR BROKERS NO. 2230-98 Posted September 24, 1998 SUBJECT : Manila Bulletin Publishing Corporation Manila Bulletin Publishing Corporation ("MB") informed the Exchange that the Securities and Exchange Commission (SEC) approved on September 17, 1998 its Amended Articles of Incorporation, particularly the Amendment to Article VII, reflecting the increase in its authorized capital stock from P2,500,000,000.00 to P3,400,000,000.00. Furthermore, in connection with the said increase in authorized capital stock, the SEC, in an Order of even date, fixed October 8, 1998 as the record date for the stockholders entitled to the 29.89% stock dividend, declared by the Board of Directors on July 2, 1998 and ratified by the stockholders on July 14, 1998. cdlex For your information. STOCK DIVIDEND UPDATE STOCK 29.89% EX-STOCK October 2, 1998 RECORD DATE October 8, 1998 (SGD.) RAFAEL L. LLAVE Chief Operating Officer