Metro Pacific Corporation

March 30, 1998 PSE CIRCULAR FOR BROKERS NO. 543-98 SUBJECT : Metro Pacific Corporation Metro Pacific Corporation ("MPC") clarified to the Exchange, in a letter dated March 27, 1998, a news article published in the March 26, 1998 issue of the Business World, which reported of the possible sale of shares held by MPC in PDCP Development Bank. MPC in said letter explained that: "PDCP Bank has successfully increased its capital base and has a strong position in the banking sector in view of its broad network of branches. In light of these strengths, MPC has been approached previously by institutions regarding a possible investment in PDCP Bank, with a view to increasing and expanding its operations. MPC, as the largest shareholder in PDCP Bank, has entertained discussions with such interested institutions to determine whether a strategic alliance would be mutually beneficial. No agreements have been concluded, however, with respect to any discussions that have taken place. For your information. (SGD.) MA ISABEL T. GARCIA Head, Listing and Disclosures Group