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PSE Circular for Brokers No. 237-98 • Philippine Stock Exchange • Circulars for Brokers • Feb 27, 1998

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February 27, 1998 PSE CIRCULAR FOR BROKERS NO. 237-98 February 25, 1998 PHILIPPINE STOCK EXCHANGE (PSE) Philippine Stock Exchange Center, Exchange Road, Ortigas Center, Pasig City SUBJECT : NEWS ARTICLE Madame : In response to your fax re news article from TODAY entitled "W G & A '97 Sales dated 26 February 1998, we would like to confirm the " UNAUDITED FIGURES AS OF 31 DECEMBER 1997 " of the following: Revenue P5.0 B Interest bearing debt P2.57 B Vs. Last year's figures of P4.66 B and P3.11 B, respectively. Please note that the audit of our financial statements is still on going so the figures for 1997 are not yet final. cdlex We hope this communication clarifies the above matters. Very truly yours, W G & A, INC. (SGD.) GEORGE H. TAN Chief Finance Officer

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