RFM Corporation

February 25, 1999 PSE CIRCULAR FOR BROKERS NO. 353-99 February 25, 1999 PHILIPPINE STOCK EXCHANGE, INC . Disclosure Department Listings and Disclosure Group Philippine Stock Exchange Center Exchange Road, Pasig City Fax No. 637-8311 Attention: Ms . Grace De Guia SUBJECT : RFM Corporation Offer to Swap RFM Common for Swift Common Record Date: February 26, 1999 Mesdames : We wish to reiterate that the Record Date for the SFI-RFM Share Swap is February 26, 1999. Only Swift Common Stockholders as of said Record Date will be entitled to subscribe to the Share Swap. Please note that eligible subscribers who wish to avail of the offering must remain holders of their Swift Common Shares throughout the Offer Period from March 15 to April 12, 1999, during which said subscribers must surrender their Swift Common Shares, together with their Applications to Swap, to the Company's Receiving Agent (in the case of certified shares or to its duly appointed Custodian Broker in the case of PCT-lodged shares). LLjur Further, may we clarify that shareholders who purchased SFI Common Shares up to February 22, 1999, following the normal settlement period for having transactions, will be included in the list of eligible subscribers as of Record Date who may participate in the Share Swap. Thank you very much. Very truly yours, (SGD.) ATTY. ANGELINE VILLAMOR Legal Counsel, RFM Corporation