PSE Circular for Brokers No. 272-99

February 15, 1999 PSE CIRCULAR FOR BROKERS NO. 272-99 February 12, 1999 Disclosure Department Listings and Disclosure Group 4/F Philippine Stock Exchange Center PSE Center, Exchange Road Ortigas Center, Pasig City Gentlemen : Please be advised that at the meeting of the Board of Directors of PCIBank held today, 12 February 1999, the Board approved the following: 1. Hiring of Messrs. Ernesto Pinpin for the position of Information Technology Group Head with the rank of Senior Vice President and Carlitos Borromeo for the position of President, PCI Properties with the rank of First Vice President-PCIBank effective 16 February 1999 and 01 February 1999, respectively. llcd 2. Resignation of Mr. Raul G. Risos/Vice President effective December 31, 1998. 3. Agenda for the 1999 Annual Stockholders' Meeting to be held on April 29, 1999: 1. Call to Order 2. Secretary's Proof of Due Notice 3. Determination of Quorum 4. Approval of the Minutes of the Annual Stockholders' Meeting held on April 30, 1998 5. Consideration of the President's Report on the Results of the Bank's Operations for the Year Ended December 31, 1998 (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 cut-off date for stockholders entitled to vote at the said meeting was set on March 31, 1999. Thank you for your kind attention. Very truly yours, PHILIPPINE COMMERCIAL INTERNATIONAL BANK By: (SGD.) MARCIAL O.T. BALGOS Corporate Secretary