Philippine Savings Bank

March 16, 1999 PSE CIRCULAR FOR BROKERS NO. 499-99 SUBJECT : Philippine Savings Bank Further to Circular No. 324-99 dated February 23, 1999, Philippine Savings Bank ("PSB") 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 19, 1999 , at 4:00 p.m., at the Penthouse, PSBank Tower, Sen. Gil Puyat Avenue corner Tindalo Street, Makati 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 Stockholders' Meeting held on April 21, 1998 4. Confirmation of all acts of the Board of Directors, the Executive Committee and the Management 5. Report of the President 6. Ratification of the 10% Stock Dividend 7. Election of the members of the Board of Directors 8. Appointment of the External Auditor 9. Other Matters 10. Adjournment As previously announced, stockholders of record as of March 9, 1999 are entitled to notice of, and to vote at, said meeting. A copy of PSB's Preliminary Information Statement is available for reference at the PSE Library and PSE-Plaza Administration Office. For your information. (SGD.) RAFAEL L. LLAVE Chief Operating Officer