PSE Circular for Brokers No. 2702-98

December 3, 1998 PSE CIRCULAR FOR BROKERS NO. 2702-98 SECURITIES AND EXCHANGE COMMISSION SEC FORM 11-C CURRENT REPORT UNDER SECTION 11 OF THESE REVISED SECURITIES ACT (RSA) AND RSA RULE 11(a)-1(b)(3) THEREUNDER 1. December 01, 1998 Date of Report (Date of earliest event reported) 2. SEC Identification Number 8202 3. BIR Tax Identification No. 360-000-288-923 4. REYNOLDS PHILIPPINES CORPORATION Exact name of registrant as specified in its charter 5. Dasmarias, Cavite Province, country or other jurisdiction of incorporation 6. (SEC Use Only) Industry Classification Code: 7. Dasmarias, Cavite Address of principal office Postal Code 8. 810-0681/810-0341 Registrant's telephone number, including area code 9. Reynolds Philippine Corporation Former name or former address, if changed since last report 10. Securities registered pursuant to Sections 4 and 8 of the RSA cda Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding One Billion (1,000,000,000) 11. Indicate the item numbers reported herein: Item No. 4 ITEM No . 4 On 26 November 1998, Mr. Jeronimo U. Kilayko, elected member of the Board of Directors of registrant, Reynolds Philippines Corporation (the "Corporation") during the Annual Stockholders meeting of the Corporation held on 24 September 1998 at the Orchard Golf and Country Club, Dasmarias, Cavite, resigned from the Board effective 1 October 1998, in view of his assumption as Chairman & Chief Executive Officer of United Coconut Planters Bank. The remaining members of the Board of Directors of the Corporation shall elect Mr. Kilayko's replacement in the next Board Meeting. Pursuant to the requirements of the Revised Securities Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. REYNOLDS PHILIPPINES CORP. Registrant (SGD.) ATTY. MA. OLIVIA T. YABUT-MISA Legal Officer