PSE Circular for Brokers No. 491-99

March 16, 1999 PSE CIRCULAR FOR BROKERS NO. 491-99 March 15, 1999 Philippine Stock Exchange, Inc . (PSE) Philippine Stock Exchange Center Exchange Road, Ortigas Center Pasig City, Metro Manila Attention: Ma . Luisa W . Buenaventura Supervisor, Disclosure Department Gentlemen/Mesdames : Pursuant to SEC and PSE's disclosure requirements, please be advised that the Company has set April 11, 1999 as the payment date of its 20 centavos per share cash dividend. The record date to determine who are entitled to receive the cash dividend as fixed by the Board of Directors last January 26, 1999 is at the closing of the trading hours of the Philippine Stock Exchange on February 25, 1999. We trust that we have sufficiently complied with your disclosure requirement. CASH DIVIDEND (UPDATE) CASH P0.20 PER SHARE EX-CASH FEBRUARY 19, 1999 RECORD DATE FEBRUARY 25, 1999 DATE PAYABLE APRIL 11, 1999 Very truly yours, (SGD.) ARMAND I. PESTANO Corporate Communications Manager