PSE Circular for Brokers No. 2827-98

December 28, 1998 PSE CIRCULAR FOR BROKERS NO. 2827-98 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 28, 1998 Date of Report (Date of earliest event reported) 2. SEC Identification Number 1803 3. BIR TIN 301-000-406-761 4. ABS-CBN Broadcasting Corporation Exact name of registrant as specified in its Articles of incorporation 5. Metro Manila Place of incorporation 6. Industry Classification Code: 7. ABS-CBN Broadcasting Compound, Mother Ignacia cor. Sgt. Esguerra Ave. Address of principal office 8. (632) 924 2674 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 Sections 4 and 8 of the RSA Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding Common Shares 1,500,000,000 shares P1,500,000,000.00 Long Term Commercial Papers P1,000,000,000.00 11. Indicate the item numbers reported herein: Item 9. Other Events ABS-CBN Broadcasting Corporation today purchased from Benpres Holdings Corporation a portion of the Convertible Notes issued by Lopez, Inc. The Convertible Notes purchased are convertible into 40,000,000 shares in ABS-CBN Broadcasting Corporation. cdt ABS-CBN BROADCASTING CORPORATION Registrant (SGD.) ENRIQUE I. QUIASON Assistant Corporate Secretary