Manila Electric Company

March 10, 1999 PSE CIRCULAR FOR BROKERS NO. 443-99 SUBJECT : Manila Electric Company Further to Circular No. 373-99 dated March 1, 1999, Manila Electric Company ("MER") furnished the Exchange a copy of its SEC Form 34-C (Preliminary Information Statement) in connection with its Annual Stockholders' Meeting which will be held on April 27, 1999, at 9:00 a.m., at the Meralco Theatre, Lopez Building, Ortigas Avenue, Pasig City. The agenda for the meeting shall be as follows: 1. Call to Order 2. Certification of Notice and Quorum 3. Approval of the Minutes of the Annual Meeting of Stockholders held on June 23, 1998 4. Annual Report of the President 5. Approval of the 1998 Audited Financial Statements 6. Ratification of the Acts of the Board of Directors and Management during the year 1998 7. Election of Directors for the ensuing year 8. Appointment of Independent Auditors 9. Other business as may properly be brought before the meeting 10. Adjournment As previously announced, stockholders, of record as of February 26, 1999 are entitled to notice of, and to vote at, said meeting. LLpr A copy of MER's Preliminary information Statement is available for reference at the PSE Library and PSE-Plaza Administration Office. For your information. (SGD.) JOSE LUIS U. YULO, JR. President and CEO