RFM Corporation Additional Listing

March 9, 1998 PSE CIRCULAR FOR BROKERS NO. 311-98 SUBJECT : RFM Corporation Additional Listing Further to Stock Rights Notice No. 8 dated January 17, 1997, please be informed that the Exchange approved the listing application of RFM CORPORATION to list: cdlex a. additional 254,466,865 10 % convertible preferred shares, with a par value of P1.00 per share, to cover the 1:5.5 Pre-emptive Rights Offering to stockholders of record as of February 6, 1997, at an offer price of P4.68 per share. b. additional 254,466,865 common shares representing the underlying shares of the 10% convertible preferred shares, with a par value of P2.00 per share, at the conversion ratio of 1 RFM common share for every 1 preferred share held. However, the actual listing and trading of the underlying shares shall be effected only after the exercise of the Conversion Right by the preferred shareholders. In view thereof, the listing of the 254,466,865 10 % convertible preferred shares is set for Tuesday, March 17, 1998. The stock trading symbol of RFM Corporation's 10 % convertible preferred shares is "RFMP." For your information and guidance. (SGD.) MARIA ISABEL T. GARCIA Head, Listings Group