Philippine Bank of Communications

October 13, 1998 PSE CIRCULAR FOR BROKERS NO. 2355-98 SUBJECT : Philippine Bank of Communications Further to Circular No. 2352-98 dated October 13, 1998, Philippine Bank of Communications ("PBC") furnished the Exchange on October 12, 1998 a copy of SEC Form 34-C (Preliminary Information Statement) in connection with its Special Stockholders' Meeting which will be held on November 4, 1998 , at 4:00 p.m., at PBCOM Training Center, 4th Floor, Fil-am Resources Building, Juan Luna St., Binondo, Manila. The agenda for the meeting shall be as follows: 1. Call to order 2. Certification on Sending of Notices 3. Certification of Presence of Quorum 4. Approval of Denial of Pre-emptive Rights and Amendment of Article VII of the Articles of Incorporation 5. Approval of the Increase in the Number of Directors from Eleven (11) to Fifteen (15) and Amendment of Article VI of the Articles of Incorporation and Article III, Section 1 of the By-Laws 6. Adjournment Stockholders of record as of October 5, 1998 are entitled to notice of, and to vote at said meeting. LLphil A copy of PBC's Preliminary Information Statement is available for reference at the PSE Library and PSE-Plaza Administration Office. For your information. (SGD.) JOSE LUIS U. YULO, JR. President and Chief Executive Officer