PSE Circular for Brokers No. 2719-99

October 25, 1999 PSE CIRCULAR FOR BROKERS NO. 2719-99 DISCLOSURE DEPARTMENT Listings and Disclosure PHILIPPINE STOCK EXCHANGE 4/F PSE Building, Exchange Road Ortigas Center, Pasig City Attention: Ms . Grace De Guia General Manager Listing and Disclosure Group RE : Annual Regular Stockholder's Meeting of Wise Holdings, Inc . (Formerly : Dharmala Philippines, Inc .) Gentlemen: Please be informed that the annual stockholders' meeting of Wise Holdings, Inc. was held today (October 22, 1999) at 10:00 a.m. at the Board Room, 5th Floor, Wise Center, 142 Amorsolo Street, Legaspi Village, Makati City. cdll During the meeting, the following were elected directors: 1. ATTY. RENATO Z. FRANCISCO; 2. MR. VICENTE J. CAMPA, JR.; 3. MR. EDUARDO L ALINO; 4. MR. RAMON L. MAPA; 5. MR. ENRIQUE P. ESTEBAN; 6. MR. EDMUNDO S. ISIDRO; 7. MR. LAZARO LL. MADARA, 8. MR. ANTONIO M. ORTIGAS; 9. MR. V. FRANCISCO VARUA; 10. MR. JULIANO LIM;* AND 11. MR. ROLANDO K. DAVID.* *Effective upon approval of Article VI of the Articles of Incorporation The stockholders passed a resolution to amend Article VI of the Articles of Incorporation to increase the number of directors from nine (9) to eleven (11). Likewise, the stockholders approved the resolution to open for subscription the unissued portion of the authorized capital stock of the corporation to the extent of 319, 603,057 common shares (class A) at par value of P1.00/share. cdll An organizational meeting of the newly elected directors followed and the following were elected corporate officers: President and Chairman RENATO Z. FRANCISCO of the Board & Executive Vice President, LAZARO LL. MADARA Chief Financial Officer and Treasurer Senior Vice President FE ELENITA A. AUSTRIA Corporate Secretary HELEN C. DE LEON-MANZANO Very truly yours, (SGD.) HELEN C. DE LEON-MANZANO Corporate Secretary