PSE Circular for Brokers No. 503-00

February 29, 2000 PSE CIRCULAR FOR BROKERS NO. 503-00 February 28, 2000 Disclosure Department Listings and-Disclosure Group 4/F Philippine Stock Exchange Center PSE Center, Exchange Road Ortigas Center, Pasig City Gentlemen: In compliance with your continuing disclosure rule, please be advised that at the regular meeting of the Board of Directors this afternoon, the Board, in accordance with the Corporation's By-Laws, set the Annual Stockholders' Meeting on April 17, 2000 at 10:00 a.m. at the Rigodon Ballroom, The Peninsula Manila. For the purpose of this meeting, the stock and transfer book of the Company will be closed from March 1, 2000, the record date, to the close of business hours of April 17, 2000. Proxies must be filed with and received at the Company's offices not later than by the close of business hours one week prior to the date of meeting, or not later than 5:30 p.m. on April 10, 2000. Very truly yours, (SGD.) ODETTE A. JAVIER Assistant Corporate Secretary