Metrobank Buying 21% Stake in Solidbank

November 11, 1999 PSE CIRCULAR FOR BROKERS NO. 2877-99 Fax Transmission TO : Grace B. De Guia Assistant Manager, Disclosure Department Listings and Disclosure Group Philippine Stock Exchange, Inc. 4th Flr, Philippine Stock Exchange Center Pasig City FAX NO. : (632) 636-0809 FROM : Ricardo V. Martin FAX NO. : (632) 814-5592, (632) 894-8717 Date/Time : November 11, 1999 SUBJECT : Metrobank buying 21% stake in Solidbank PAGES : _1_, including this one This message is intended only for the use of the individual or entity to which it is addressed and may contain information that is privileged, confidential and exempt from disclosure, if you are not the intended recipient of the employee responsible for delivering the message to the intended recipient, you are notified that any dissemination, distribution or copying of this communication is strictly prohibited. If you have received this communication in error, please notify us immediately by phone (collect if required), and return the original message to us by mail or alternatively, immediately destroy this message. Thank you. Dear Ms. De Guia, This is in response to your query with regards to the news articles published in the November 11, 1999 issue of the Philippine Daily Inquirer and Business World which reported negotiations between Metrobank and Trust Co. and Solidbank's which reported negotiations between Metro Bank and Trust Co. and Solidbank's Filipino investors to gain 21% ownership in the bank. cdlex In this regard, we wish to advise that, as of this writing, Solidbank management has not been formally advised in writing, of any such negotiations to acquire 21% ownership in Solidbank. As such, we are presently not in a position to provide clarification / confirmation of said news articles. Very truly yours, (SGD.) R.V. MARTIN