Global Equities, Inc. (the "Company")

April 16, 1998 PSE CIRCULAR FOR BROKERS NO. 692-98 Compliance and Surveillance Philippine Stock Exchange Philippine Stock Exchange Building Ortigas Center, Pasig City RE : Global Equities, Inc . (the "Company") Gentlemen : We enclose copies of the following documents in connection with the Annual Stockholders' Meeting of the Company: 1. Notice of Annual Stockholders' Meeting to be disseminated to all qualified stockholders of record; and Cdphil 2. Agenda of Annual Stockholders', Meeting. Should you wish further clarification to the foregoing, please let us know. Very truly yours, GLOBAL EQUITIES, INC. By: MICAELA V. ZORRILLA Assistant Corporate Secretary NOTICE OF ANNUAL SHAREHOLDERS' MEETING TO ALL SHAREHOLDERS: Please be informed that the Annual Stockholders' Meeting of GLOBAL EQUITIES, INC. ("GET") shall be held at the Dasmarias Room, Inter Continental Hotel, on Monday, 18 May 1998, at 8:00 o'clock in the morning, for the following purposes: 1. Call to Order 2. Certification of Notice and Quorum 3. Reading and Approval of the Minutes of the Stockholders' Meeting held on 24 October 1996 4. Management Report for 1997 and 1996 5. Approval of Audited Financial Statements as of 31 December 1997 and 31 December 1996 6. Ratification of all acts, resolutions and proceedings of Management, Executive Committee and the Board of Directors 7. Election of Directors 8. Appointment of External Auditors 9. Other matters 10. Adjournment The Board of Directors of GEI has fixed the RECORD DATE for stockholders entitled to vote at this annual meeting to be on 17 April 1998 . This notice is not a solicitation for proxy, but stockholders who will not be able to attend the meeting may designate their respective proxies and send the proxy forms to the Office of the Corporate Secretary so that the same may be received not later than 14 May 1998. cdlex Registration starts at 7:00 a.m. on the scheduled meeting. For your convenience in registering your attendance, please have some form of identification such as your Professional I.D., Passport, or Driver's License together with the copy of the Notice of Meeting sent to you by the undersigned. Very truly yours, (SGD.) ARSENIO C. CABRERA, JR. Corporate Secretary