PSE Circular for Brokers No. 2729-98

December 9, 1998 PSE CIRCULAR FOR BROKERS NO. 2729-98 December 7, 1998 Philippine Stock Exchange, Inc. Exchange Road, Ortigas Center Pasig City Attention: Compliance Listings Department RE : Filsyn Corporation Gentlemen : This is to advise that at the postponed annual stockholders meeting of Filsyn Corporation (the 'Corporation') held today, December 7, 1998, the following persons were elected as directors of the Corporation for the year 1998-1999: 1. MR. PATRICIO L. LIM 2. MR. DOUGLAS HSU 3. MR. JOHNNY SHIH 4. MR. CHAMPION LEE 5. MR. RENATO V. DIAZ 6. MR. FELIPE YAP 7. MR. ALFONSO YUCHENGCO III 8. MR. FLORENTINO HERRERA III 9. MR. REYMUNDO P.G. VILLARICA 10. MR. GEORGE GO 11. MR. BIENVENIDO ARAW III 12. MR. DAVID HUANG 13. MR. RAPHAEL M. LERNER Mr. Armando Samia continued as Ex-Officio director. At the same stockholders meeting, the stockholders also unanimously ratified and confirmed the Corporation's financial restructuring with several creditors. This restructuring arrangement was previously approved at the special meeting of the board of directors of the Corporation held on September 30, 1998. At the organizational meeting of the board of directors held immediately after the aforesaid stockholders meeting, the following were elected officers of the Corporation for the year 1998-1999: Position Name Chairman of the Board Patricio L. Lim Vice-Chairman of the Board Douglas Hsu President Florentino Herrera III Treasurer Champion Lee Senior Vice President for Finance/Administration Sosenio Ravalo Senior Vice Pres. & Auditor J.C. Shich Vice res. and Plant Manager Sta. Rosa Plant Jaime Sto. Domingo Corporate Secretary Cirilo T. Tolosa Asst. Corp. Secretary Ma. Belina Mariano Very truly yours, (SGD.) CIRILO T. TOLOSA Corporate Secretary Filsyn Corporation