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Pasig, Metro Manila

PSE Circular for Brokers No. 284-98 • Philippine Stock Exchange • Circulars for Brokers • Mar 5, 1998

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March 5, 1998 PSE CIRCULAR FOR BROKERS NO. 284-98 March 3, 1998 PHILIPPINE STOCK EXCHANGE Philippine Stock Exchange Centre Exchange Road, Ortigas Center Pasig, Metro Manila Attention: Maria Isabel T . Garcia Head, Listing Department Gentlemen : Please be informed that the Board of Directors of Bankard, Inc., at its regular meeting held on February 27, 1998, accepted the resignation of Mr. Joey A. Bermudez as Director of the Company and thereafter, elected Mr. Roberto L. Panlilio to fill up the vacancy as a result of Mr. Bermudez's resignation. Thank you for your attention. Very truly yours, (SGD.) LUTGARDA C. BAQUIRAN-PERALTA Corporate Secretary

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