News Article Report: Metrobank Signed Escrow Agreement on Solidbank

November 12, 1999 PSE CIRCULAR FOR BROKERS NO. 2892-99 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 : 9:36 AM November 12, 1999 SUBJECT : News Article Report: Metrobank Signed Escrow Agreement on 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 article published in the November 12, 1999 issue of the Manila Bulletin which reported that Metro Bank and Trust Co. had signed an escrow agreement with the Madrigal family for the acquisition of a 50% stake in Solidbank. cdll In this regard, we wish to advise that, as of this writing, Solidbank management has not been officially advised in writing, of any such escrow agreement to acquire a 50% stake in Solidbank. As such, we are presently not in a position to provide clarification / confirmation of said news articles. Very truly yours, (SGD.) RICARDO V. MARTIN, FVP Chief Financial Controller