October 11, 1999PSE CIRCULAR FOR BROKERS NO. 2576-99October 8, 1999

October 11, 1999 PSE CIRCULAR FOR BROKERS NO. 2576-99 October 8, 1999 PHILIPPINE STOCK EXCHANGE, INC. 4/F Philippine Stock Exchange Center Exchange Road, Ortigas Center Pasig City Attention: Listing and Disclosure Group RE : Postponement of Annual Stockholders' Meeting Gentlemen: Further to our letter of 27 August 1999, please be informed of the further postponement of our annual stockholders' meeting this year from 8 December 1999 to 14 December 1999, subject to our receipt of SEC's Acknowledgment thereof. Further postponement of the meeting is necessary since a majority of the directors of the Corporation who have signified their desire to be present at the annual stockholders' meeting will still be unavailable on 8 December 1999. The record date for the determination of the stockholders entitled to notice of and vote at the annual stockholders' meeting of the Corporation has been moved from 8 November 1999 to 15 November 1999 . We shall inform you of the time and venue of the meeting once these are finalized. Very truly yours, (SGD.) A. BAYANI K. TAN Corporate Secretary