PSE Circular for Brokers No. 2678-98

December 1, 1998 PSE CIRCULAR FOR BROKERS NO. 2678-98 SECURITIES AND EXCHANGE COMMISSION SEC FORM 11-C CURRENT REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND RSA RULE 11(a)-1(b)(3) THEREUNDER 1. November 26, 1998 Date of Report (Date of earliest event reported) 2. SEC Identification Number 19073 3. BIR Tax Identification No. 350-000-288-6981 4. FIRST PHILIPPINE HOLDINGS CORPORATION Exact name of registrant as specified in its charter 5. N/A Province, country or other jurisdiction of incorporation 6. [ ] (SEC Use Only) Industry Classification Code: 7. 6th Floor, Benpres Building, Meralco Avenue cor. Exchange Road, Pasig City 1600 Address of principal office Postal code 8. 2-631-8024 to 30 Registrant's telephone number, including area code 9. N/A Former name or former address, if changed since last report. 10. Securities registered pursuant to Sections 4 and 8 of the RSA Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding Class "A" Common Shares 294,937,333 shares B Common Shares 152,249,299 shares Total 447,186,632 shares Long Term Commercial Paper (LTCP) P2,000,000,000 11. Indicate the item numbers reported herein: Item Nos. 4 and 9 Item 4 During the organizational meeting of the Board of Directors of First Philippine Holdings Corporation (the "Corporation") held on November 26, 1998, the persons named herein were elected as officers thereof: Name Nationality Residence Mr. Oscar M. Lopez Filipino 672 Notre Dame, Chairman of the Board/ Wack-Wack Greenhills, Chief Executive Officer Mandaluyong City Mr. Augusto Almeda-Lopez Filipino 35 Joaquin Street, San Vice Chairman of the Board Lorenzo Village, Makati City Mr. Elpidio L. Ibaez Filipino 141 Capricorn St., Cinco President & Chief Operating Officer Hermanos Subd., Marikina City Mr. Ernesto B. Rufino, Jr. Filipino 29 Banaba Road, Forbes Vice President/Treasurer & Park, Makati City Chief Finance Officer Mr. Peter D. Garrucho, Jr. Filipino 44 Roseville St., White Managing Director Energy Plains, Q.C. Mr. Arthur A. De Guia Filipino 412 Calo St., Ayala Managing director Mfg. & Alabang, Muntinlupa, Information Technology Metro Manila Mr. Federico R. Lopez Filipino 4/F Benpres Bldg., Meralco Vice President/Asst. Treasurer Avenue, Pasig City Ms. Perla R. Catahan Filipino 4320 Liwayway Street, Vice President/Comptroller Makati City Mr. Reynaldo R. Sarmenta Filipino 26 Ubay St., Sta. Mesa Vice President Heights, Q.C. Mr. Benjamin K. Liboro Filipino 550 Mariano Marcos St., Vice President San Juan, M.M. Mr. Daniel H. Valeriano, Jr. Filipino 25 Gen. Atienza St., San Vice President Antonio Village, Pasig City Mr. Anthony M. Mabasa Filipino c/o ECCO-Asia, 3F, Vice President Benpres Bldg., Meralco Ave., Pasig City Mr. Leonides U. Garde Filipino Unit 4, 46-a, Melchor St., Vice President Varsity Hills, Loyola Heights, Quezon City Mr. Ernesto A. Esguerra Filipino 17th St., Golden Gate Vice President Subdivision Talon II, Las Pias, Metro Manila Mr. Ricardo B. Yatco Filipino c/o ECCO-Asia 3/F, Vice President Benpres Bldg. Meralco Ave., Pasig City Mr. Hector Y. Dimacali Filipino 2985 Mahogany Street, Vice President United Paraaque II, Paraaque, Metro Manila Mr. Richard B. Tantoco Filipino Woodside Homes, Cluster Vice President 21, Unit G-3 Quezon City Mr. Francis Giles B. Puno Filipino c/o 4/F, Benpres Bldg., Vice President Meralco Ave., Pasig City Mr. Cesar Z. Gomez Filipino c/o 6/F, Benpres Bldg., Vice President Meralco Ave., Pasig City Atty. Enrique I. Quiason Filipino 24 Nightingale St., Corporate Secretary Greenmeadows, Q.C. Atty. Rodolfo R. Waga, Jr. Filipino c/o 4/F Benpres Bldg., Asst. Corporate Secretary Meralco Ave. Pasig City Item 9 The Corporation approved the creation of a holding company to be named First Power Generation Corporation for its different power generation projects and activities. cdll Pasig City, November 26, 1998. FIRST PHILIPPINE HOLDINGS CORPORATION By: (SGD.) RODOLFO R. WAGA, JR. Asst . Corporate Secretary