Notice of Regular Annual Stockholders' Meeting

April 13, 1998 PSE CIRCULAR FOR BROKERS NO. 652-98 26 March 1998. NOTICE OF REGULAR ANNUAL STOCKHOLDERS' MEETING NOTICE IS HEREBY GIVEN that the regular annual meeting of stockholders of CEBU HOLDINGS, INC. will be held at the Grand Ballroom, Cebu City Mariott Hotel, on Wednesday, 29 April 1998 at 10:00 a.m. with the following llcd AGENDA 1. Determination of Quorum 2. Approval of the Minutes of Previous Meeting 3. Annual Report of the President 4. New Business 4.1 Ratification of all acts and resolutions of the Board of Directors and of the Executive Committee 5. Election of Directors 6. Election of Auditors and fixing of their remuneration 7. Consideration of such other business as may properly come before the meeting 8. Adjournment Stockholders of record as of 25 March 1998 shall be the stockholders who will be entitled to notice of, and to vote at, this meeting. For this purpose the Stock and Transfer Books of the Corporation will be closed from 26 March 1998 to 29 April 1998, inclusive. If you would be unable to attend the meeting but would like to be represented thereat, you may accomplish the proxy form provided for the purpose and submit the same to the Office of the Corporate Secretary on or before 20 April 1998. Validation of proxies shall be held on 22 April 1998 at 3:00 p.m. at the Office of the Corporate Secretary. LLjur FOR THE BOARD OF DIRECTORS (SGD.) RENATO O. MARZAN Corporate Secretary