Declaration of Stock Dividends

October 22, 1998 PSE CIRCULAR FOR BROKERS NO. 2424-98 October 21, 1998 PHILIPPINE STOCK EXCHANGE Disclosure Department PSE Center Exchange Road Ortigas Center, Pasig City Fax No. 636-0809 Attention: Head, Disclosure Department SUBJECT : Declaration of Stock Dividends Gentlemen : Please be advised that the Board of Directors of Euro-Med Laboratories Phil. Inc., at its regular meeting held on October 21, 1998 at 4:00 p.m. in which a quorum was present throughout unanimously approved the ( Illegible portion in PSE file ) Corporation as of September 30, 1998 to be issued from the Corporation's authorized but unissued capital stock to stockholders of record as of December 18, 1998. A special meeting of the stockholders was called to be held on December 2, 1998 to approve the said declaration. The board has also fixed November 4, 1998 as the record date of stockholders entitled to vote in the said meeting. The stock dividend of twenty five (25%) percent is equivalent to two hundred million (200,000,000) shares at par value based on the issued and outstanding capital stock of the Corporation of eight hundred million (800,000,000) shares with a par value of P1.00. LexLib STOCK DIVIDEND Stock div. 25% Ex-date December 14, 1998 Record Date December 18, 1998 Very truly yours, (SGD.) RONNIE G. RAGONTON Corporate Secretary