La Tondena Distillers, Inc. Anual Stockholders Meeting

April 14, 1998 PSE CIRCULAR FOR BROKERS NO. 660-98 April 13, 1998 PHILIPPINE STOCK EXCHANGE Tektite Towers, Exchange Road Ortigas Center, Pasig City Attention : Ms Grace De Guia Monitoring Department RE : La Tondena Distillers, Inc . Anual Stockholders Meeting Gentlemen: This will confirm our earlier advise that the Annual Stockholders Meeting of La Tondena Distillers, Inc. held today, 13 April 1998, the stockholders approved the following: (1) Employee Stock Purchase Plan; (2) Employee Stock Option Plan; (3) Amendment of Article VII of the Articles of Incorporation to deny pre-empitve rights to any issuance of shares pertaining to shares of stock issued pursuant to a duly approved stock option, stock purchase, stock subscription or similar plan. As earlier disclosed, these matters were approved by the Board of Directors on 12 March 1998 subject to approval by the shareholders, which approval was obtained at today's annual meeting. A summary of the basic features of the employee Stock Purchase Plan and the Employee Stock Option Plan, as approved at today's meeting, is enclosed. asiadc Very truly yours, (SGD.) BARBARA ANNE C. MIGALLOS Corporate Secretary