Treasury Shares

March 24, 1998 PSE CIRCULAR FOR BROKERS NO. 455-98 March 23, 1998 PHILIPPINE STOCK EXCHANGE, INC. Phil. Stock Exchange Centre Exchange Road Ortigas Center, Pasig M.M. RE : Treasury Shares Gentlemen : We write further to our letter of March 3, 1998. We submit herewith a Sworn Statement regarding the actual number of Treasury Shares purchased by Jardine Davies Inc. for the period from January 1, 1998 to February 28, 1998. Please enter this as part of your records. cdt Very truly yours, (SGD.) JARDINE DAVIES INC. (SGD.) B. S. CHUNGUNCO Senior Vice President SWORN STATEMENT That I, BI YONG s. CHUNGUNCO, Filipino, of legal age, with business address at Jardine Davies Building, 222 Sen. Gil J. Puyat Avenue, Makati City, Metro Manila, after having been duly sworn in accordance with law, hereby depose and state: That I am the Corporate Secretary of Jardine Davies Inc. and I have custody of the corporate records; That the following are the additional treasury shares registered in the name of, or beneficially owned by, Jardine Davies Inc. for the period from January 1, 1998 to February 28, 1998: Transaction Date No. of Shares Transaction Price January 30, 1998 6,000 Php30.00 February 26, 1998 19,000 30.00 (SGD.) B. S. CHUNGUNCO Corporate Secretary REPUBLIC OF THE PHILIPPINES) MAKATI CITY, METRO MANILA) S. S. SUBSCRIBED AND SWORN to before me this 23rd of March 1998 in Makati City, affiant exhibited to me her Community Tax Certificate No. 07753820 issued at Makati City on February 19, 1998. LibLex FELIPE T. DUMPIT NOTARY PUBLIC UNTIL DECEMBER 31, 1998 PTR No. 1274088/1/27/98 MAKATI METRO MANILA Doc. No. 162; Page No. 34; Book No. XXXI; Series of 1998.