PSE Circular for Brokers No. 224-99

February 8, 1999 PSE CIRCULAR FOR BROKERS NO. 224-99 February 5, 1999 Philippine Stock Exchange 4/F Philippine Stock Exchange Center PSE Center, Exchange Road Ortigas Center, Pasig City Metro Manila Attention: Disclosure Department Listing and Disclosure Group Gentlemen : In compliance with the disclosure requirements of the Philippine Stock Exchange, we advise that during the meeting of the Board of Directors of our Company on February 5, 1999, the following cash dividends were declared: 1 P0.50 per share on the Company's Series B 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending February 28, 1999, payable March 31, 1999 to the holders of record on February 26, 1999. aisadc 2 P0.50 per share on the Company's Series F 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending February 28, 1999, payable March 31, 1999 to the holders of record on February 26, 1999. 3. P0.50 per share on the Company's Series Q 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending February 28, 1999, payable March 31, 1999 to the holders of record on February 26, 1999. 4. P0.50 per share on the Company's Series V 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending February 28, 1999, payable March 31, 1999 to the holders of record on February 26, 1999. Thank you. CASH DIVIDEND (SERIES B, F, Q, V) CASH P0.50 PER SHARE EX-CASH FEBRUARY 22, 1999 RECORD DATE FEBRUARY 26, 1999 DATE PAYABLE MARCH 31, 1999 Very truly yours, (SGD.) MA. LOURDES C. RAUSA-CHAN Corporate Secretary