PSE Circular for Brokers No. 858-99

April 23, 1999 PSE CIRCULAR FOR BROKERS NO. 858-99 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 RULE 11(a) 1(b)(3) THEREUNDER 1. April 23, 1999 Date of Report (Date of earliest event reported) 2. SEC Registration No. AS0930-4369 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 P4,573,982,518.00 Long Term Commercial Papers P3,000,000,000.00 11. Indicate item numbers reported herein: Item 9. Other Events Benpres Holdings Corporation together with the JG Summit Group and the Meralco Pension Fund last night signed an agreement to sell their combined shareholdings of approximately 72% in Philippine Commercial International Bank. The proposed sale shall be conducted via a negotiated private sale or through an auction to interested investors, ING Barings Asia Limited and JP Morgan Securities Asia Pte. Limited have been retained as financial advisors for the transaction. LLpr BENPRES HOLDINGS CORPORATION Registrant By: (SGD.) ENRIQUE I. QUIASON Corporate Secretary