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Pilipino Telephone Corporation

PSE Circular for Brokers No. 526-98 • Philippine Stock Exchange • Circulars for Brokers • Mar 27, 1998

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March 27, 1998 PSE CIRCULAR FOR BROKERS NO. 526-98 SUBJECT : Pilipino Telephone Corporation Pilipino Telephone Corporation ("PLTL") clarified to the Exchange in a letter dated March 26, 1998, its on-going negotiations with Smart Communications, Inc. PLTL explained in said letter that: ". . . there are no on-going negotiations between the Corporation and Smart Communications, Inc. for a merger, neither is the Corporation aware of the existence of any such merger talks." The said clarification was done in view of the article appearing in the March 25, 1998 issue of the Philippine Daily Inquirer. LLphil For your information. (SGD.) MA. ISABEL T. GARCIA Head, Listing and Disclosures Group

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