The Philippine Banking Corporation

March 26, 1999 PSE CIRCULAR FOR BROKERS NO. 609-99 SUBJECT : The Philippine Banking Corporation Further to Circular No. 357-99 dated February 26, 1999, The Philippine Banking Corporation ("TPB") furnished the Exchange a copy of its SEC Form 34-C (Preliminary Information Statement) in connection with its Annual Stockholders' Meeting which will be held on May 3, 1999, at 8:30 a.m., at the 6th Floor, Philbank Building, 6778 Ayala Avenue, Makati City. The agenda for the meeting shall be as follows: 1. Calling of the Roll 2. Proof of due Notice of the Meeting and Existence of Quorum 3. Approval of the Minutes of the Previous Stockholders' Meeting held on May 4, 19998 4. Annual Report of the President 5. Election of Directors 6. Appointment of External Auditor 7. Confirmation of all Resolutions, Contracts and Acts of the Board of Directors, the Executive Committee, other Board and Management Committees and of Management 8. Other Matters 9. Adjournment As previously announced, stockholders of record as of April 13, 1999 are entitled to notice of, and to vote at, said meeting. A copy of TPB's Preliminary Information Statement is available for reference at the PSE Library and PSE-Plaza Administration Office. For your information. (SGD.) JOSE LUIS U. YULO, JR. President and CEO