Statement of Beneficial Ownership

October 19, 1998 PSE CIRCULAR FOR BROKERS NO. 2388-98 SUBJECT : Statement of Beneficial Ownership The following listed companies furnished the Exchange copies of SEC Form 36-A (Initial Statement of Beneficial Ownership of Securities) as of September 1998: 1. Benguet Corporation 2. Mabuhay Vinyl Corporation 3. Mariwasa Manufacturing, Inc. 4. Philippine Estates Corporation 5. Security Bank Corporation 6. Zeus Holdings, Inc. The following listed companies furnished the Exchange copies of SEC Form 36-B (Statement Changes of Beneficial Ownership of Securities) as of September 1998: 1. A. Brown Company, Inc. 2. Air Philippines International Corporation 3. Asian Terminals, Inc. 4. Atok-Big Wedge Co., Inc. 5. Benguet Corporation 6. Benpres Holdings Corporation 7. Centro Escolar University 8. C & P Homes, Inc. 9. Far East Bank and Trust Company 10. First Philippine Holdings Corporation 11. Lorenzo Shipping Corporation 12. Metropolitan Bank and Trust Company 13. Philippine Long Distance Telephone Company 14. Prudential Bank 15. RFM Corporation (Common) 16. Selecta Dairy Products, Inc. 17. Universal Robina Corporation Copies of said SEC Forms 36-A and 36-B are available for reference at the PSE Library. cdt For your information. (SGD.) JOSE LUIS U. YULO, JR. President and Chief Executive Officer