Swift Foods, Inc. Quarterly Cash Dividend on Preferred Shares

October 21, 1998 PSE CIRCULAR FOR BROKERS NO. 2416-98 SUBJECT : Swift Foods, Inc. Quarterly Cash Dividend on Preferred Shares Please be informed that the Exchange approved on June 24, 1998 the listing application of SWIFT FOODS, INC . (the "Company") to list up to 150,491,531 preferred shares , with a par value of P1.00 per share, to cover the 1 : 8 preemptive rights offering to stockholders of records as of July 15, 1998, subject to the approval by the Securities and Exchange Commission ("SEC") of the increase in authorized capital stock from which the preferred shares will be created. The Company's application for the increase in authorized capital stock is still pending with the SEC. Furthermore, as contained in the Offering Prospectus and Circular for Brokers No. 1433-98, the dividends are payable quarterly in arrears in cash, to commence at the end of the first quarter from the date of the closing of the Offer Period. The Company in its letter dated October 15, 1998 informed the Exchange that the first quarterly cash dividend on preferred shares will be due on November 9, 1998, details of which are as follows: Cash Dividend Rate P0.4121 per preferred share Ex-cash October 20, 1998 Record Date October 26, 1998 Date Payable November 9, 1998 Quarterly Period Covered August 7, 1998 to November 9, 1998 (94 days) For your information and guidance. (SGD.) JOSE LUIS U. YULO, JR. President & CEO