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PSE Circular for Brokers No. 3110-99

PSE Circular for Brokers No. 3110-99 • Philippine Stock Exchange • Circulars for Brokers • Dec 7, 1999

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December 7, 1999 PSE CIRCULAR FOR BROKERS NO. 3110-99 06 December 1999 MS. LUISA W. BUENAVENTURA Supervisor Disclosure Dept., Philippine Stock Exchange 4/F PSE Centre, Exchange Road, Ortigas Centre Pasig City Dear Ms. Buenaventura, Thank you for your letter of 6 December 1999 regarding an enterprise story published in the Inquirer today on Equitable PCI Bank. LexLib We wish to clarify that Equitable PCI Bank did not go on a "roadshow" for a private offering which is an option we are considering when we feel the time is right. Rather, we were invited to a series of conferences and one-on-one meetings by Merrill Lynch, ING Barings & Lehman Brothers to give them an update on the status of our integration program. LibLex We are pleased to inform you that reaction to our reports on the integration process from all investor groups has been positive. Very truly yours, (SGD.) ROMUALD U. DY TANG Executive Vice President & Treasurer

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