Philippine Stock Exchange

March 3, 1998 PSE CIRCULAR FOR BROKERS NO. 263-98 February 27, 1998 The Philippine Stock Exchange Exchange Road; Ortigas Center Pasig City, Metro Manila Attention : Ms . Maria Isabel T . Garcia Head, Listing Department Gentlemen: Inasmuch as PCIBank's By-Laws requires the holding of the annual stockholders' meeting on the last Thursday of April and in view of the fact that the last Thursday of April falls on April 30 and not on April 23, 1998, as earlier advised your office, it in necessary that the 1998 Annual Stockholders' Meeting of PCIBank should be held on April 30, 1998 at nine o'clock in the morning (9:00 a.m.) at the Francisco Santiago Hall, PCIBank Tower I, Makati Avenue corner H.V. dela Costa St., Makati City, Metro Manila. Attached is the proposed agenda. Thank you. Very truly yours, (SGD.) LUTGARDA C BAQUIRAN-PERALTA Assistant Corporate Secretary NOTICE OF ANNUAL MEETING OF STOCKHOLDERS Dear Stockholder: Notice is hereby given that the Annual Meeting of Stockholders of PCIBank will be held at the Francisco Santiago Hall, PCI Tower I, Makati Avenue corner H.V. dela Costa St., Makati City, Metro Manila, on Thursday, April 30, 1998 at nine o'clock in the morning (9:00 a.m.) to take up the following matters: A G E N D A 1. Call to Order 2. Secretary's Proof Of Due Notice 3. Determination of Quorum 4. Approval of the Minutes of the Annual Stockholder's Meeting held on April 24, 1997 5. Consideration of the President's Report on the Results of the Bank's Operations for the Year Ended December 31, 1997 (Annual Report and Financial Statements of the Bank) 6. Confirmation/Ratification of the Acts of Management, the Executive Committee and the Board of Directors 7. Election Of Directors for the ensuing year 8. Appointment of External Auditor 9. Such other business as may properly come before the meeting 10. Adjournment The record date for the determination of the stockholders entitled to notice of, and to vote at, said meeting is fixed at the close of business hours on March 31, 1998. Kindly be informed also that PCIBank Manager is inviting you to the offering of Holy Mass at 8:00 a.m. just before the Stockholders' Meeting on April 30, 1998 at the Chapel of Our Lady of Guadalupe, PCIBank Tower II. FOR THE BOARD OF DIRECTORS (SGD.) MARCIAL O. T. BALGOS Corporate Secretary