PSE Circular for Brokers No. 856-99

April 23, 1999 PSE CIRCULAR FOR BROKERS NO. 856-99 April 22, 1999 Philippine Stock Exchange 4/F Philippine Stock Exchange Center PSE Center, Exchange Road Ortigas Center, Pasig City Attention: Disclosure Department Listing and Disclosure Group Gentlemen : Enclosed is a copy of the press release that was issued today in connection with PLDT'S assurance to the public that it's business as usual since its labor dispute with its sales supervisors' union will not affect its operations. cdll Thank you. Very truly yours, PHILIPPINE LONG DISTANCE TELEPHONE COMPANY (SGD.) MA. LOURDES C. RAUSA-CHAN Corporate Secretary PRESS RELEASE PLDT assured the public that it's business as usual since its labor dispute with its sales supervisors' union will not affect its operations. This assurance came in the light of the walk-out this morning by some of the 200-member PLDT Sales Supervisors' Union (PSSU). They walked-out alleging union busting and CBA deadlock as reasons. LexLib PLDT Senior Vice President Antonio R. Samson said these allegations are not true. "The CBA process was still in its initial stages when the union declared a deadlock and filed a notice of strike. They were bargaining in bad faith and seemed to be bent on securing an arbitrated CBA," Samson said. The alleged deadlock was declared after PLDT made an Improved offer that the union refused to consider and did not bother to respond to. Samson said the alleged union busting is in connection with me reorganization of PLDT's Customer Services Group. aisadc PSSU refused to settle the issue despite PLDT's assurance to PSSU made before DOLE that no position within the current PSSU bargaining unit will be removed from this bargaining unit by reason of the reorganization. The alleged ULP has no factual basis since it is only based on speculations, Samson said.