PSE Circular for Brokers No. 866-98

April 29, 1998 PSE CIRCULAR FOR BROKERS NO. 866-98 April 28, 1998 Philippine Stock Exchange, Inc. PSE Center, Exchange Road Ortigas Center, Pasig City Fax No. 6342051 Attention: Ma . Isabel T . Garcia Gentlemen : We advise that the agenda for the Postponed Annual Stockholders' Meeting of Fil-Hispano Holdings Corporation scheduled on May 26, 1998 has been changed as follows: 1. Call to Order 2. Proof of Notice and Certification of Quorum 3. Approval of Minutes of Previous Stockholders' Meeting 4. Management Report and Audited Financial Statements for Year Ended December 31, 1997 5. Ratification of Previous Corporate Acts 6. Amendment of Article Third of the Articles of Incorporation, to change the location of the principal office to any place in Metro Manila; and of Article Seventh, for the increase of the authorized capital stock, and authorizing the creation of additional common shares, preferred shares and/or other types of securities in relation to such increase 7. Approval of the spin-off of certain assets to a landholding subsidiary, and the manufacturing operations to another separate subsidiary; and the consent to the creation by the landholding subsidiary of a mortgage trust indenture over the real properties to be transferred to it by the Company. 8. Election of Directors 9. Appointment of External Auditors 10. Adjournment Very truly yours, (SGD.) ROBERTO V. SAN JOSE Corporate Secretary