PSE Circular for Brokers No. 733-99

April 13, 1999 PSE CIRCULAR FOR BROKERS NO. 733-99 Current Report Pursuant to Section 11 of the Revised Securities Act (RSA) And RSA Rule ll(a)-a(b)(3) Thereunder SEC FORM 11 -C 1. Date of Report: 12 April 1999 2. SEC Identification Number: 147212 3. BIR Tax Identification No.: 000-323-228 4. Registrant: International Container Terminal Services, Inc. 5. Country of Incorporation: Philippines 6. Industry Classification Code: 7. Address of Principal Office: ICTSI Administration Building Manila 8. Registrant's Telephone No.: 245 4101 9. Securities registered pursuant to Sections 4 and 8 of the RSA Titles of Class Number of Shares Outstanding Common shares 2,308,102,527 (Reported by the stock transfer agent as of 31 March 1999) 10. Item number reported herein: Item 9 Other Events The Board of Directors has approved the final terms of the P1,000,000,000.00 Long-Term Commercial Papers (LTCP) to be issued by the Company. In relation to the LTCP issuance, the Rating Board of the CIBI Ratings, Inc. has given a rating of CIB Aa on ICTSI's capability to pay both interest and principal on the issuance of its P1 billion LTCP. Pursuant to the requirements of the Revised Securities Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereto duly authorized. INTERNATIONAL CONTAINER TERMINAL SERVICES, INC. By: (SGD.) ROBERTO B. JAYME Senior Vice President Finance