PSE Circular for Brokers No. 2740-98

December 11, 1998 PSE CIRCULAR FOR BROKERS NO. 2740-98 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. December 10, 1998 Date of Report (Date of earliest event reported) 2. SEC Registration No. AS0930-4369 3. BIR TIN 002-825-058 4. Benpres Holdings Corporation Exact name of registrant as specified in its Articles of Incorporation 5. Metro Manila Place of incorporation 6. Industry Classification Code 7. 5th Floor Benpres Building, Exchange Road cor. Meralco Ave., Pasig City Address of principal office 8. 631 3111 Registrant's telephone number, including area code 9. Not Applicable Former name or former address, if changed since last report 10. Securities registered pursuant to Section 4 and 8 of the RSA Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding Common Shares 4,573,982,518 shares P4,573,982,518.00 Long Term Commercial Papers P3,000,000,000.00 11. Indicate item numbers reported herein: Item 9. Other Events In a special meeting of the Board of Directors held today, the Board approved the acquisition by the Corporation of shares in Philippine Commercial International Bank increasing its shareholdings from 17.7% to 30.0% at the purchase price of P130.00 per share. The shares were purchased from Pacific Aquaventures Corporation, Shrimplex International Corporation, International PolymerCorporation, Recovery Development Corporation, Dee Hua T. Gatchalian and William Gatchalian. aisadc BENPRES HOLDINGS CORPORATION Registrant By: (SGD.) ENRIQUE I. QUIASON Corporate Secretary