PSE Circular for Brokers No. 282-99

February 16, 1999 PSE CIRCULAR FOR BROKERS NO. 282-99 February 15, 1999 Securities and Exchange Commission SEC Building EDSA Mandaluyong City Disclosure Department Listings and Disclosure Group 4/F Philippine Stock Exchange Center PSE Center Exchange Road Ortigas Center Pasig City Gentlemen : In compliance with your continuing disclosure rule, please be advised that at the regular meeting of the Board of Directors this afternoon: 1 A cash dividend of P0.004 per share was declared, the details or which are as follows: Record date March 1, 1999 Payment date April 15, 1999 2 In accordance with the Company's By-Laws, the Board set the Annual Stockholders' Meeting on April 19, 1999. For the purposes of this meeting the stock and transfer book of the Company will be closed from March 1, 1999 the record date, to the close of business hours of April 19 1999. Proxies must be received at the Company's offices not later than the close of business hours, one week prior to the date of meeting or not later than 5:30 p.m. on April 12, 1999. dctai CASH DIVIDEND CASH P0.004 PER SHARE EX-CASH FEBRUARY 23, 1999 RECORD DATE MARCH 1, 1999 DATE PAYABLE APRIL 15, 1999 Very truly yours, (SGD.) RAY C. ESPINOSA Corporate Secretary