PSE Circular for Brokers No. 238-99

February 10, 1999 PSE CIRCULAR FOR BROKERS NO. 238-99 February 9, 1999 Securities & Exchange Commission Director Linda A. Daoang Money Market Department S.E.C. Building, EDSA Mandaluyong City Philippine Stock Exchange Disclosure Department Listings and Disclosure Group 4/F PSE Center, Exchange Road Ortigas Center, Pasig City Gentlemen : Please be informed that during the regular Board of Directors' Meeting of Globe Telecom, Inc. held yesterday afternoon. 08 February 1999, the following were considered: 1. Election of Mr. Lung Chien Ping as director to replace Mr. Paul Chong who has resigned, effective 08 February 1999; 2. Transfer of corporate office from BPI Condominium Center, Paseo de Roxas, Makati City to Globe Telecom Plaza. Pioneer Highlands, Pioneer cor. Madison Sts., Mandaluyong City, and 3. The holding of the annual stockholders' meeting on April 8, 1999 at 9:00 a.m. Stockholders of record as of February 26, 1999 shall be the stockholders who will be entitled to vote at this meeting. For this purpose, the Stock & Transfer Books of the Corporation will be closed from March 1, 1999 to April 8, 1999. This information is being made in compliance with the rules of the Securities & Exchange Commission and the Philippine Stock Exchange. cd Thank you. Very truly yours, (SGD.) RENATO O. MARZAN Corporate Secretary