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San Miguel Corporation

PSE Circular for Brokers No. 2442-98 • Philippine Stock Exchange • Circulars for Brokers • Oct 27, 1998

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October 27, 1998 PSE CIRCULAR FOR BROKERS NO. 2442-98 SUBJECT : San Miguel Corporation SAN MIGUEL CORPORATION ("SMC") furnished the Exchange a copy of SEC Form 11-C in connection with SMC's Long-Term Incentive Plan for Stock Options which was approved by the Securities and Exchange Commission on 5 May 1994, with the following information: cdll 1. Date of Offer March 26, 1998 2. Optionees 3. Total Shares Offered 3,116,717 4. Vesting Schedule and Percentages 33 1/3% - March 26, 1999 33 1/3% - March 26, 2000 33 1/3% - March 26, 2001 Copy of said SEC 11-C is available for reference at the PSE Library. For your information. (SGD.) JOSE LUIS U. YULO, JR. President and Chief Executive Officer

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