Asia Amalgamated Holdings Corporation

December 21, 1998 PSE CIRCULAR FOR BROKERS NO. 2791-98 SUBJECT : Asia Amalgamated Holdings Corporation Asia Amalgamated Holdings Corporation ("AAA") furnished the Exchange a copy of its SEC Form 34-C (Definitive Information Statement) in connection with its Special Stockholders' Meeting which will be held on December 28, 1998 , at 2:00 P.M. at Unit E-3003 C Philippine Stock Exchange Center, Exchange Road, Ortigas Center, Pasig City. The agenda for the meeting shall be as follows: 1. Call to order 2. Certification of notice and quorum 3. Approval of the minutes of the annual meeting of the stockholders on November 6, 1998 4. Report of the Chairman of the Board 5. Approval of the assignment of the Corporation's shares in the capital stock of Ecology Savings Bank, Inc. to EBC Investments, Inc. 6. Ratification of all votes of the Board of Directors or management for the period beginning November 6, 1998 to December 18, 1998 7. Other matters 8. Adjournment Only stockholders of record as of December 18, 1998 are entitled to notice of, and to vote at, said meeting. The stock and transfer books of AAA will be closed from December 22, 1998 to December 29, 1998 . cdt A copy of AAA's Definitive Information Statement is available for reference at the PSE Library and PSE-Plaza Administration Office. For your information. (SGD.) JOSE LUIS U. YULO, JR. President and CEO