PSE Circular for Brokers No. 2269-98

September 29, 1998 PSE CIRCULAR FOR BROKERS NO. 2269-98 TO : Philippine Stock Exchange FROM : Enrique D. Perez, Secretary Philippine Long Distance Telephone Company FOR IMMEDIATE RELEASE September 29, 1998. The Board of Directors of Philippine Long Distance Telephone Company at its meeting held on September 29, 1998 declared the following cash dividends: cdlex 1. P0.50 per share on the Company's Series C 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending October 31, 1998, payable November 27, 1998 to the holders of record on October 29, 1998. 2. P0.50 per share on the Company's Series D 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending October 31, 1998, payable November 27, 1998 to the holders of record on October 29, 1998. 3. P0.50 per share on the Company's Series J 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending October 31, 1998, payable November 27, 1998 to the holders of record on October 29, 1998. 4. P0.50 per share on the Company's Series T 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending October 31, 1998, payable November 27, 1998 to the holders of record on October 29, 1998. 5. P0.50 per share on the Company's Series X 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending October 31, 1998, payable November 27, 1998 to the holders of record on October 29, 1998. xxx xxx xxx Cash Dividend (Series C, V, J, T and X) Cash dividend P0.50 per share Ex-Cash October 23, 1998 Record Date October 29, 1998 Date Payable November 27, 1998