Notice of Annual Stockholder's Meeting

March 6, 1998 PSE CIRCULAR FOR BROKERS NO. 305-98 NOTICE OF ANNUAL STOCKHOLDER'S MEETING Notice is hereby given that the Regular Annual Meeting of the stockholders of BANCO FILIPINO Savings and Mortgage Bank will be held at Banco Filipino Bldg., Ground Floor, 101 Paseo de Roxas, Makati City, Metro Manila on Friday, the 27th day of March 1998 at 5:00 in the afternoon. The Agenda for the meeting shall be as follows: 1. Certification by the Corporate Secretary on the sending of notices and existence of a quorum; 2. Approval of Minutes of the Stockholders' Meeting held on March 31, 1997; 3. Approval of the Annual Report and Financial Statements and Ratification of the Acts of the Board of Directors and Management; 4. Election of the Board of Directors; and 5. Such other business as are indicated in the Code of By-Laws and as may properly come before the meeting. Only stockholders of record and are in good standing as of March 6, 1998 shall be entitled to vote and be voted during the meeting. For this purpose, the Stock and Transfer Book of the Corporation will be closed from March 7 to 27, 1998. LLpr If you cannot personally attend the meeting and would like to be represented by a proxy, a written and signed copy of the proxy must be received by the Corporate Secretary on or before March 20, 1998, at which date, the proxies will be inspected and validated. (SGD.) ATTY. FRANCISCO A. RIVERA Corporate Secretary