Bell Corporation

September 28, 1999 PSE CIRCULAR FOR BROKERS NO. 2432-99 SUBJECT : Bell Corporation Professional Stock Transfer, Inc. informed the Exchange that the following stockholders executed an Affidavit of Loss relative to the subscription agreements/deed assignment of Belle Corporation ("BEL") described below: cdlex Stockholders Citizenship S/A # No. of shares Angelina Valentina R. Filipino 940778 1,333 Angeles Francisco Varua Filipino 941598 6,666 Vickers Ballas Sec. Filipino 940659 6,666 Manuel Q. Bengson Filipino 940816 7,333 Greli S. Legaspi Filipino 942166 3,333 Jocelyn O. Yu Filipino 941648 1,333 Westin Sec. Corp. Filipino 940665 81,663 Westin Sec. Corp. Filipino 941977 33,702 Margaret Y. Cu Filipino 940953 30,433 Emigdio V. De Leon Filipino 941189 9,333 Mary Angeline Sy Filipino 941489 29,333 Cathay Sec., Inc. Filipino 40120 833 40119 50 40118 133 40108 16,666 40115 3,333 40122 5,666 941701 6,666 940113 8,333 940112 6,666 940111 33,333 940114 33,333 940110 1,666 940109 3,333 940116 50,000 940117 666 S. J. Roxas & Co., Inc. 940528 3,333 940529 233 940531 666 Nonito Y. Lao 941169 3,333 Yolando Y. Lao Filipino 941171 1,666 For your information. cdll (SGD.) JOSE LUIS U. YULO, JR. President and CEO