RFM Corporation Additional Listing

March 22, 1999 PSE CIRCULAR FOR BROKERS NO. 550-99 SUBJECT : RFM Corporation Additional Listing Please be informed that on March 5, 1997, the Exchange approved subject to the actual exercise of the Conversion Right by the preferred shareholders, the application of RFM CORPORATION (the "Company") to list 254,466,865 common shares, with a par value of P2.00 per share, to cover the underlying shares of the 10% convertible preferred shares, at the conversion ratio of 1 common share for every 1 preferred share, held. In connection therewith, please be advised that the Company has received notice from preferred shareholders for the conversion of 55,363 preferred shares to 55,363 common shares. In view thereof, the listing of the 55,363 common shares is set for Tuesday , March 23, 1999 . This brings to a total of 21,699,312 common shares already listed arising from the conversion of 21,699,312 preferred shares. For your information and guidance. (SGD.) JOSE LUIS U. YULO, JR. President and CEO