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MBf, Inc.

PSE Circular for Brokers No. 2312-99 • Philippine Stock Exchange • Circulars for Brokers • Sep 15, 1999

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September 15, 1999 PSE CIRCULAR FOR BROKERS NO. 2312-99 Posted September 15, 1999 SUBJECT : MBf, Inc . In reply to the Exchange's query regarding the unusual price movement in the trading of MBf, Inc. ("MBf") shares on September 14, 1999 which decreased from P10.00 to P6.00 per share, the company, in a letter to the Exchange, explained that: ". . . We have no information as what triggered the sudden trading of our shares considering that there has been no trading activity on our shares for a long time. cdlex It is possible that some minority shareholders may be unloading some of their shares. Please note that the trading in MBf shares is very thin, hence, even the sale of an insignificant number of shares will affect their trading price. . . ." For your information. llcd (SGD.) JOSE LUIS U. YULO, JR. President and CEO

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