PSE Circular for Brokers No. 376-99

March 1, 1999 PSE CIRCULAR FOR BROKERS NO. 376-99 February 26, 1999 Disclosure Department Listings and Disclosure Group 4/F Philippine Stock Exchange Center PSE Center, Exchange Road Ortigas Center, Pasig City Gentlemen : Please be advised that at the meeting of the Board of Directors of PCI Leasing and Finance, Inc. held today 20 February 1999, the Board approved the following: 1. Declaration of a 50% stock dividend to stockholders of record as of April 30, 1999 to be taken from the unissued capital stock. 2. Amendment of the agenda for the 1999 Annual Stockholders' Meeting to include the declaration of stock dividends which as amended is as follows: 1. Call to order; 2. Certification by the Corporate Secretary on the sending of notice and existence of a quorum; 3. Rending and approval of minutes of the 1998 annual meeting of the stockholders; 4. Report of the President; 5. Approval of the 1998 Financial Statements; 6. Ratification of actions taken by the Board of Directors and Officers of the Corporation since the last annual meeting of the stockholders; 7. Appointment of independent auditors; 8. Election of Directors; 9. Approval of Stock Dividend Declaration; 10. Transaction of such other matters as may properly come before the meeting; and 11. Adjournment. Thank you for your kind attention. Stock Dividend Stock Dividend 50% Ex-stock April 26, 1999 Record Date April 30, 1999 Very truly yours, PCI LEASING AND FINANCE, INC. (SGD.) LUTGARDA C. BAQUIRAN PERALTA Corporate Secretary