The Philippine Banking Corporation

April 6, 1998 PSE CIRCULAR FOR BROKERS NO. 614-98 SUBJECT : The Philippine Banking Corporation The Philippine Banking Corporation ("TPB") furnished the Exchange on April 3, 1998 a copy of SEC Form 34-A (Definitive Proxy Statement) in connection with its Annual Stockholders' Meeting which will be held on May 4, 1998 , 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 June 16, 1997 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. Amendment of the Amended By-Laws to provide for an Internal Auditor 9. Other matters 10. Adjournment Stockholders of record as of April 13, 1998 are entitled to notice and to vote at the said meeting. A copy of TPB's SEC Form 34-A is available for reference at the PSE Library and PSE-Plaza Administration Office. llcd For your information. (SGD.) REYNOLD P. ONG Vice-President, Listings and Disclosure Group