PSE Circular for Brokers No. 750-98

April 22, 1998 PSE CIRCULAR FOR BROKERS NO. 750-98 April 20, 1998 Compliance and Surveillance Department Philippine Stock Exchange PSE Centre Tektite Towers Exchange Road Pasig City Gentlemen : Please take notice that Benpres Holdings Corporation requested the Securities and Exchange Commission for a postponement of the holding of its 1998 Annual Stockholders Meeting from May 6, 1998 to May 27, 1998. Attached is a copy of the letter filed by the Company with the SEC. Should the Company's request be granted, the record date for stockholders entitled to notice at the said meeting is set to May 4, 1998. LexLib We thank you in advance for your kind consideration. Very truly yours, (SGD.) ENRIQUE I. QUIASON Corporate Secretary BENPRES HOLDINGS CORPORATION April 20, 1998 The Securities and Exchange Commission SEC Building E. de los Santos Ave. Mandaluyong, Metro Manila Attention: Money Market Operations Department Gentlemen : Benpres Holdings Corporation requests for the approval of the Company's plan to postpone the holding of its 1998 Annual Stockholders Meeting from May 6, 1998 to May 27, 1998 since the audited financial statements can not be finalized in due time for distribution to the stockholders before the scheduled annual stockholders meeting. Since the Company is a holding Company, the Company's financial statements consolidates the financial statements of certain of its subsidiaries while it equitizes the earnings of its affiliates. Because of the delay in the finalizational of the audited financial statements of a few of these affiliates, the consolidated financial statements of the Company could not be finalized in due time for the scheduled May 6, 1998 date. The Company will still have to finalize and print the annual report which under Rule 34-C must be distributed to the stockholders at least 15 business days before the annual stockholders meeting with the information statement. prLL In this connection, the Company request that the annual stockholders meeting be postponed to May 27, 1998 at 2:30 p.m. to be held at Studio 1, ABS-CBN Broadcasting Centre Complex, Sgt. Esguerra Ave., cor. Mother Ignacia St. Quezon City, Metro Manila. We thank you in advance for your kind consideration. Very truly yours, (SGD.) ENRIQUE I. QUIASON Corporate Secretary