Philippine Long Distance Telephone Company

March 1, 2000 PSE CIRCULAR FOR BROKERS NO. 522-00 SUBJECT : Philippine Long Distance Telephone Company Philippine Long Distance Telephone Company ("TEL") informed the Exchange that its Board of Directors, in a meeting held on February 29, 2000, approved the declaration of the following cash dividends: 1. P0.50 per share on the Company's Series E 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending March 31, 2000, payable on April 28, 2000 to stockholders of record as of March 30, 2000; 2. P0.50 per share on the Company's Series K 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending March 31, 2000, payable on April 28, 2000 to stockholders of record as of March 30, 2000; 3. P0.50 per share on the Company's Series O 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending March 31, 2000, payable on April 28, 2000 to stockholders of record as of March 30, 2000; 4. P0.50 per share on the Company's Series U 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending March 31, 2000, payable on April 28, 2000 to stockholders of record as of March 30, 2000; 5. P1.20 per share on the Company's Common Capital Stock, payable on April 14, 2000 to stockholders of record as of March 15, 2000 . 6. $1.029412 per share on the Company's Series III Convertible Preferred Stock, payable on April 15, 2000 to stockholders of record as of March 15, 1999 . cdll For your information. (SGD.) MARIA ISABEL T. GARCIA OIC, Listings and Disclosure CASH DIVIDEND (Series E, K. O, U) CASH - P0.50 per share EX-CASH - March 24, 2000 RECORD DATE - March 30; 2000 DATE PAYABLE - April 28, 2000 CASH DIVIDEND (Common) CASH - P1.20 per share EX-CASH - March 9, 2000 RECORD DATE - March 15, 2000 DATE PAYABLE - April 14, 2000