PSE Circular for Brokers No. 2580-99

October 11, 1999 PSE CIRCULAR FOR BROKERS NO. 2580-99 October 8, 1999 DISCLOSURE DEPARTMENT LISTING & DISCLOSURE GROUP PHILIPPINE STOCK EXCHANGE, INC. Philippine Stock Exchange Center Exchange Road, Ortigas Center Pasig City RE : SPI Technologies Inc. Annual General Meeting of Stockholders Gentlemen: In compliance with the continuing disclosure requirements of the Exchange, please be informed that the Annual Meeting of the Stockholders of the Corporation was held earlier today, 9 October 1999 at 9:00 a m at The Westin Philippine Plaza, CCP Complex, Roxas Boulevard, Pasay City, Metro Manila. During the said Meeting; the following were elected as members of the Board of Directors of the Corporation for the year 1999 and until their successors shall have been elected and qualified: 1. Alfredo I. Ayala 2. Leonardo B. Alejandrino 3. Ernest L. Cu 4. Alexander Thomson 5. Francis P. Hernando 6. Alan Leung 7. Bradley West The firm SYCIP GORRES VELAYO & CO was appointed as the External Auditors of the Corporation during the said Meeting. At the same meeting, the following matters were approved by stockholders owning at least two-thirds (2/3) of the outstanding capital stock of the Corporation: 1. the increase in authorized capital stock of the Corporation from Two Hundred Million Pesos (P200,000,000) to Three Hundred Fifteen Million Pesos (P315,000,000); and 2. a twenty percent (20%) stock dividend to be taken out of the aforementioned capital increase. The Organizational Meeting of the Board of Directors was likewise held on 9 October 1999 after the aforementioned Annual Meeting of the Stockholders of the Corporation. During the said Organization Meeting, the following were elected as officers of the Corporation to serve as such for the year and until their successors shall have been elected and qualified: Alfredo I. Ayala - Chairman Leonardo B Alejandrino - Vice Chairman Ernest L. Cu - President Gemma M. Santos - Corporate Secretary Francis P. Hernando - Treasurer Very truly yours, (SGD.) FRANCIS P. HERNANDO Chief Finance Officer