PSE Circular for Brokers No. 762-98

April 22, 1998 PSE CIRCULAR FOR BROKERS NO. 762-98 THE SECURITIES AND EXCHANGE COMMISSION Mandaluyong City SEC FORM 11-C CURRENT REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND THE RSA 11 (a)-1(b)(3) THEREUNDER 1. April 21, 1998 Data of Report (Date of earliest event reported) 2. SEC Registration No. AS093004369 3. BIR TIN. 002-825-058 4. Benpres Holdings Corporation Exact name of registrant as specified in its Articles of incorporation 5. Metro Manila Place of incorporation 6. ___________________________ Industry Classification Code 7. 5th Floor Benpres Building, Exchange Road cor. Meralco Ave., Pasig City Address of principal office 8. 631 3111 Registrant's telephone number, including area code 9. Not Applicable Former name or former address, if changed since last report 10. Securities registered pursuant to Sections 4 and 8 of the RSA Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding Common Shares 4,573,982,518 shares P4,573,962,518.00 Long Term Commercial Papers P3,000,000,000.00 11. Indicate Item numbers reported herein: Item 9 Other Events Benpres Holdings Corporation, today, received consent from the holders of long terms commercial papers for the transfer of its shares in ABS-CBN Broadcasting Corporation and Sky Vision Corporation to Lopez, Inc. With this consent, Benpres will now proceed to transfer its media interest to Lopez, Inc. which is expected to be completed within five business days from today. Once these shares are completely was transferred to Lopez, Inc., Benpres will make an announcement that the shares of Benpres can be owned up to 40% by non-Philippine nationals. Cdphil BENPRES HOLDINGS CORPORATION Registrant By: (SGD.) J. XAVIER B. GONZALES Chief Operating Officer and Chief Finance Officer