PSE Circular for Brokers No. 836-99

April 22, 1999 PSE CIRCULAR FOR BROKERS NO. 836-99 April 21, 1999 PHILIPPINE STOCK EXCHANGE, INC . 4/F Philippine Stock Exchange Center, PSE Center, Exchange Road Ortigas Center, Pasig City Attention: Ms . Grace B . De Guia Assistant Manager Head, Disclosure Dept . Gentlemen : Please be informed as follows: (1) The Stockholders of METROPOLITAN BANK AND TRUST COMPANY in the Annual Meeting held on April 21, 1999: (a) Elected the following directors: POSITION NAME Chairman George S. K. Ty Vice Chairman Placido L. Mapa Jr. Member Antonio S. Abacan Jr. Member Alberto P. Romulo Member Jesus P. Estanislao Member Renato C. Valencia Member James Go Member Gabriel C. Chua Member Johnip G. Cus Member Ricardo W. Gallo (b) Ratified the 10% stock dividend declared by the Board of Directors on February 24, 1999. (2) The Board of directors of METROPOLITAN BANK AND TRUST COMPANY in its meeting held on April 21, 1999 elected the following officers: cdll POSITION NAME Chairman George S.K. Ty Vice Chairman Placido L. Mapa, Jr. President Antonio S. Abacan Jr. Executive Directors James Go Ricardo W. Gella Senior Executive Vice President Elvira Ong Chan * Executive Vice Presidents Henry M. Sun Theresita O. Turla Angelito M. Villanueva Samuel S. Yap Senior Vice Presidents Sergio G. Edeza Patricio O. Go Alfredo P. Javellana II ** Francis T. Lee Ma. Concepcion N. Singson Vy Tonne So Aniceto M. Sobrepena Arthur V. Ty *** Senior First Vice Presidents Eligio C. Labog, Jr. Antonio V. Viray **** First Vice Presidents Carmelita R. Araneta Melinda C. Ching Mauricio M. Chiong Jaime T. Dee Diana D. Enrique Pantaleon P. Francisco Angelita T. Jao Bernardito M. Lapuz Reynaldo H. Liao Alfredo D. Lim Alfred V. Madrid Cynthia R. Manalang Paul Y. Sim, Jr. Dennis G. Suico Wilfredo S. Tiongson William Wen Pai Yu Vice Presidents Mariquita L. Agena Ricardo T. Chan Fermin T. Chio Antonio P. Chua Rosalie Wee Chu Lydia G. Chua Bernabe O. Galang Domingo C. Go Daniel Hsu Ava Marie T. Ignacio Katie Kuo-Hwa Kao Steve Po-Tsun Kuo Alex C. Lim Alberto P. Maglaque Roy Y. Martelino Edgardo C. Marquez Moriji Matsude Benjamin A. Mayuga, Jr. Joshua E. Naing Yuji Mikoshiba Francisco N. Noble, Jr. Avmir D. Pangilinan Manuel P. Phua Fernando P. Porras Norma G. Recibio Wilfredo S. Rivera Teodosio C. Sangil, Jr. Herminio O. Timbol Rogelio T. Uy Gloria T. Uy Lucila Y. Uy Lorenzo G. De Vera, Jr. Ma. Rosario C. Victorino Philip H. Wong Victorio B. Yamat Amelin S. Yao Luis R. Ymson, Jr. Very truly yours, (SGD.) ANTONIO V. VIRAY Senior 1st Vice President Asst . Corporate Secretary Footnotes * Corporate Secretary ** Controller/Assistant Corporate Secretary *** Assistant to the President/Assistant Corporate Secretary **** Assistant Corporate Secretary