Prudential Bank

September 8, 1999 PSE CIRCULAR FOR BROKERS NO. 2242-99 SUBJECT : Prudential Bank Further to Circular No. 2178-99 dated September 1, 1999, Prudential Bank ("PB") furnished the Exchange a copy of its SEC Form 34-C (Definitive information Statement) in connection with its Annual Stockholders' Meeting which will be held on October 8, 1999 , at 4:00 p.m., at the Board Room, 3rd Floor, Prudential Bank Building, 6787 Ayala Avenue, Makati City. The agenda for the meeting shall be as follows: 1. Call to Order 2. Proof of Notice 3. Determination of Quorum 4. Approval of the Minutes of the Special Stockholders' Meeting held on August 11, 1998 and December 10, 1998 5. Report of Prudential Bank's operations for the year ended December 31, 1998 6. Confirmation/Ratification of the acts of Management and the Board of Directors 7. Election of Directors 8. Appointment of External Auditors 9. Approval of Due Diligence Audit and Plan of Merger 10. Amendment of Certain Provisions of the Amended By-Laws 11. Declaration of Property Dividends 12. Other Business 13. Adjournment Stockholders of record as of September 24, 1999 are entitled to notice of, and to vote at, said meeting. Stockholders who are unable to attend the meeting may accomplish a proxy form and return the same to the company at least five (5) days before the meeting. A copy of PB's Definitive Information Statement is available for reference at the PSE Centre and PSE-Plaza Libraries. For your information. (SGD.) JOSE LUIS U. YULO President & CEO