PSE Circular for Brokers No. 2511-98

November 4, 1998 PSE CIRCULAR FOR BROKERS NO. 2511-98 November 3, 1998 Philippine Stock Exchange Disclosure Department Listings and Disclosure Group PSE Center, Exchange Road Pasig City Gentlemen : We wish to disclose the unaudited January to September 1998 sales and income performance of Cosmos Bottling Corporation (CBC), the softdrinks subsidiary of RFM Corporation. CBC posted a net income after tax of P422M for the first nine months of 1998, representing a 15% growth from the P367M earning posted during the same period last year. This came from Net Sales of P2.6B for the period ending September 1998, which grew by 36%, compared with the year ago level of P1.9B. The substantial growth in net sales was basically due to a 32% increase in sales volume from the January to September 1998 period plus a price increase in the big size Pop 800 ml product last July. The company has maintained consistent value for money strategy, combining world-class quality with competitive pricing, which are important in building stronger demand for its products. prLL We shall be submitting to your office the complete financial statements following your prescribed format as soon as they are prepared in accordance with your schedule. Thank you very much. Very truly yours, (SGD.) ATTY. CRISTINA D. REYES