Philippine Commercial International Bank

March 27, 1998 PSE CIRCULAR FOR BROKERS NO. 514-98 SUBJECT : Philippine Commercial International Bank Further to Circular No. 263-98 dated March 3, 1998, Philippine Commercial International Bank ("PCI") furnished the Exchange on March 26, 1998 a copy of SEC Form 34-A (Definitive Proxy Statement) in connection with its Annual Stockholders' Meeting which will be held on Thursday, April 30, 1998, at 9:00 a.m. at the Francisco Santiago Hall, PCIBank Tower 1, Makati Avenue corner H.V. de la Costa St., Makati City. The agenda for the meeting shall be as follows: LexLib 1. Call to Order 2. Secretary's Proof of Due Notice 3. Determination of Quorum 4. Approval of the Minutes of the Stockholders' Meeting held on April 24, 1997 5. Consideration of the Presidents Report on the Results of the Banks Operations for the year ended December 31, 1997 (Annual Report and Financial Statements of the Bank) 6. Confirmation/Ratification of the Acts of Management, the Executive Committee and the Board of Directors 7. Election of Directors for the ensuing year 8. Appointment of External Auditor 9. Such other business as may property come before the meeting 10. Adjournment Stockholders of record as of the close of business hours of March 31, 1998 are entitled to notice of, and to vote at, said meeting. A copy of PCI's SEC Form 34-A is available for reference at the PSE Library and PSE-Plaza Administration Office. For your information. (SGD.) ISABEL T. GARCIA Head, Listing and Disclosure Group