PSE Circular for Brokers No. 2361-99

September 21, 1999 PSE CIRCULAR FOR BROKERS NO. 2361-99 September 20, 1999 MS. LUISA BUENAVENTURA Supervisor, Disclosure Department Phil. Stock Exchange, Inc. 4th Floor Phil. Stock Exchange Center Exchange Road, Ortigas Center Pasig City Dear Madam : This is in connection with your faxed message of today which we received only at 11:45 this morning on the alleged stockholders' meeting held today, September 20, 1999, enclosing therewith a listing of the alleged new set of Directors for Mondragon International Phils. Inc. ("MIPI") and signed by one Miguelito V. Ocampo, acting as Corporate Secretary, to wit: 1. Mario B. Palou 2. Marita Socorro D. Gayares 3. Milaflor Guieb 4. Anna Christina Vicente 5. George Chua 6. Eddie Go 7. Arsenio Alfiler 8. Ricardo R Dizon 9. Jose Antonio Gonzalez Please be informed that the Annual Stockholders' Meeting for MIPI has been duly scheduled for November 15, 1999 pursuant to the Notice of Cancellation filed with the Securities and Exchange Commission ("SEC") and Disclosure Statement submitted with the PSE, which re-setting to 15 November has been acknowledged and duly approved by the SEC, through its Ms. Leonisa Z. Garcia, Chief, SERD-2, Money Market Operations Department in a letter dated September 15, 1999, copy of which is attached hereto as Annex A. Consequently the alleged proceedings happening today and purporting to be the holding of a stockholders' meeting for MIPI and involving the election of a new set of Directors is wholly void. The Board of Directors and Officers of MIPI are, and continue to be, as follows: 1. Jose Antonio U. Gonzalez Chairman and CEO 2. Faustino S. Roberto Director - Treasurer 3. Dulce Q. Saguisag Director 4. Mercedes U. de Gonzalez Director 5. Antonio M. Garcia Director 6. Fernando Y. Adrias Director 7. Luis P. Lorenzo, Jr. Director 8. Ma. Cristina M. Millan Director 9. Basil L. Ong Director 10. Pierre Paul S. Buhay Acting Corporate Secretary cdll Very truly yours, (SGD.) PIERRE PAUL S. BUHAY Acting Corporate Secretary September 15, 1999 MONDRAGON INTERNATIONAL PHILIPPINES, INC. Penthouse, Mondragon House 324 Sen. Gil J. Puyat Avenue Makati City Attention: Pierre Paul S. Buhay Financial Comptroller Gentlemen : This is to acknowledge receipt of your SEC Form 11-C dated 13 September 1999, advising the Commission that your annual stockholders' meeting which was previously set on 20 September 1999 has been moved to 15 November 1999. llcd Please be informed that the same has been duly NOTED and made part of your records on file with the Commission, with the advise that you amend your definitive information statement if any material change in the disclosures occur from 20 September 1999 to the scheduled date. For your guidance and compliance. Very truly yours, (SGD.) LEONISA Z. GARCIA Chief, SERD-2