PSE Circular for Brokers No. 2286-98

October 30, 1998 PSE CIRCULAR FOR BROKERS NO. 2286-98 September 30, 1998 Disclosure Department Listings and Disclosure Group 4/F Philippine Stock Exchange Center PSE Center, Exchange Road Ortigas Center, Pasig City Attention: Mr . Reynaldo P . Ong Vice President Listings & Disclosure Group RE : Election of Directors and Officers of the Philippine Trust Company also known as PHILTRUST BANK Gentlemen : Please be informed that at the Annual Meeting of the Stockholders of PHILTRUST BANK held on September 29, 1998, at 4:00 p.m. at the Philtrust Building, United Nations Avenue corner San Marcelino Street, Manila, the following were re-elected Directors of the Bank for the ensuing year: prcd 1. Dr. Emilio T. Yap 2. Justice Emilio A. Gancayco 3. Dr. Jaime C. Laya 4. Mr. Antonio H. Ozaeta 5. Mr. Conrado S. Janairo 6. Mr. Jaime L. Sumulong 7. Mr. Basilio C. Yap 8. Atty. Eusebio S. Go 9. Mr. Ernesto O. Chan 10. Mr. Francisco L. Gochioco 11. Atty. Ricardo G. Verzosa During the Organizational Meeting of the Board of Directors held immediately after the adjournment of the Annual Stockholders Meeting, the following officers were elected: 1. Dr. Emilio T. Yap Chairman of the Board 2. Justice Emilio A. Gancayco Vice Chairman of the Board 3. Dr. Jaime C. Laya Vice Chairman of the Board 4. Mr. Antonio H. Ozaeta President 5. Mr. Marcelo A. Mirasol, Jr. Executive Vice President 6. Atty. Ricardo G. Verzosa Executive Vice President/Asst. Corporate Secretary 7. Mr. Francisco L. Gochioco Executive Vice President 8. Mrs. Virginia S. Choa-Shi Executive Vice President 9. Mr. Paterno C. Bacani, Jr. Executive Vice President 10. Atty. Ramon V. Te AVP/Asst. Corp. Secretary Very truly yours, (SGD.) RAMON V. TE Assistant Corporate Secretary