PSE Circular for Brokers No. 2958-99

November 19, 1999 PSE CIRCULAR FOR BROKERS NO. 2958-99 November 18, 1999 PHILIPPINE STOCK EXCHANGE PSE Center, Exchange Road, Ortigas Center Pasig City Attention: Ms . Grace B . De Guia Assistant Manager, Disclosure Department Gentlemen: The Regional Trial Court of Makati City Branch 64, in an order dated November 17, 1999 extended the previously issued 72-hour temporary restraining order to twenty (20) days which will expire on December 8, 1999. The said order restrains respondent banks (United Coconut and Planters Bank, Far East Bank & Trust Company and Asian Bank Corporation), their employees, agents, representatives, and other persons confederating with them or acting in their behalf, from using the pledged shares of stock of the petitioner MIPI under the Agreement and the Amendment thereto or exercising any rights or doing any act involving said pledged of shares of stocks or voting the same, or doing any other act by virtue of such pledged shares of stocks or pursuant to the Special Power of Attorney provided in the Agreement until a judicial determination has been made on whether or not petitioners are in default of their obligations under the Agreement, and from committing any other act that will directly or indirectly derail or impede petitioner from complying with the Compromise Agreement dated 28 June 1999. Hope the foregoing meet your requirements. cdlex Very truly yours, (SGD.) PIERRE PAUL S. BUHAY Financial Comptroller