PSE Circular for Brokers No. 370-98

March 13, 1998 PSE CIRCULAR FOR BROKERS NO. 370-98 March 10, 1998 PHILIPPINE STOCK EXCHANGE PSE Centre, Exchange Road Pasig, Metro Manila Attention : Compliance & Surveillance Department RE : Music Corporation SEC Reg. No. AS092-000589 Disclosure Statement 98-04 Gentlemen : Please be advised that the annual meeting of stockholders of the Corporation will be held on 06 May 1998, immediately after the adjournment of the special meeting of stockholders scheduled on the same day at 2:00 p.m. The special meeting of stockholders convened on 10 March 1998 at Canlubang Golf and Country Club was adjourned for lack of quorum and reset to 06 May 1998. (Ref. Disclosure Statement 98-03). Stockholders of record as of 16 March 1998 shall be entitled to notice of and to vote at the annual meeting. cdll Please be further advised that the Corporation will shortly file a request for authority from the Securities and Exchange Commission ("SEC") to allow the Corporation to hold both meetings in Makati City for the convenience of and to encourage wider attendance by stockholders and to enable the Corporation to have access to modern technological facilities which the Corporation requires to present its annual report. Said facilities are not available at the Canlubang Golf and Country Club in Canlubang, Laguna, the municipality where the principal office of the Corporation is now located. Section 51 of the Corporation Code limits the venue of stockholders' meetings to the city or municipality where the principal office of the corporation is located; hence, the need to obtain such authority from the SEC. Very truly yours, (SGD.) JIMMY S. SOO