PSE Circular for Brokers No. 3302-99

December 29, 1999 PSE CIRCULAR FOR BROKERS NO. 3302-99 SECURITIES AND EXCHANGE COMMISSION SEC FORM 11-C CURRENT REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND RSA RULE 11(a)-1(b)(3) THEREUNDER 1. December 27, 1999 Date of Report (Date of earliest event reported) 2. SEC Identification Number PW-2 3. BIR Tax Identification No. 419-000-103-216 4. A. SORIANO CORPORATION, Exact name of registrant as specified in its charter 5. Metro Manila, Phil. Province, country or other jurisdiction of incorporation 6. (SEC Use Only) Industry Classification Code: 7. 7th Floor, Pacific Star Bldg. Makati Avenue, Makati City Address of principal office Postal Code 8. 819-0251 Registrant's telephone number, including area code 9. N.A. Former name or former address, if changed since last report 10. Securities registered pursuant to Sections 4 and 8 of the RSA Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding Common 3,035,689,042 11. Indicate the item numbers reported herein: Item 2 Disposition of Assets Item 2 Disposition of Assets In addition to our disclosure (11-C) regarding the Share Purchase Agreement executed by the Selling Shareholders (one of which is A. Soriano Corporation owning about 41%) and Global Business Bank, pursuant to the Memorandum of Agreement, the Buyers commit to enter into such suitable and mutually acceptable arrangements with the Selling Shareholders with respect to the payment of Sixty Percent (60%) of the future recovery of additional loss provision of AsianBank over a 3-year period. SIGNATURES Pursuant to the requirements of the Revised Securities Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. A. SORIANO CORPORATION Registrant (SGD.) REGINALDO L. HERNANDEZ Vice President and Assistant Corporate Secretary