PSE Circular for Brokers No. 2647-98

November 25, 1998 PSE CIRCULAR FOR BROKERS NO. 2647-98 Current report under Section 11 of the Revised Securities Act (RSA) and RSA Rule 11(a)-1(b)(3) thereunder 1. November 24, 1998 2. SEC I.D. No 42393 3. BIR Tax I.D. No. 043-000-530-828 4. ASIA AMALGAMATED HOLDINGS CORPORATION 5. Metro Manila, Philippines 6. Industry Classification 7. Unit E 3003-C, Philippine Stock Exchange Center, Exchange Road Ortigas Center, Pasig City 8. (632) 635-4945 9. The registrant has not changed its name or address since the last report 10. Securities Registered Pursuant to Sections 4 and 8 of the RSA Title of Each Class No. of Shares Outstanding and Amount Outstanding Common 799,999,981 11. Items to be reported Item 2. Acquisition or Disposition of Assets Today, November 24, 1998, the registrant is set to assign its shares in Ecology Savings Bank, a wholly owned subsidiary of the registrant, to EBC Investments, Inc. (EBCI), EBCII has started its due diligence work on the business, financial and legal condition of Ecology Savings Bank, which is expected to be completed by the end of the month. prLL The assignment is subject to the approval of the stockholders of the registrant at a special stockholders meeting to be called for that purpose. The assignment is further subject to the approval of the Bangko Sentral ng Pilipinas. Pursuant to the requirement of the Revised Securities Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ASIA AMALGAMATED HOLDINGS, CORP. by: (SGD.) DEVI KATERINA S. MARTINEZ-NEGRE Assistant Corporate Secretary