PSE Circular for Brokers No. 872-98

April 29, 1998 PSE CIRCULAR FOR BROKERS NO. 872-98 April 29, 1998 SECURITIES AND EXCHANGE COMMISSION SEC Building, Epifanio delos Santos Avenue Mandaluyong City, Metro Manila Attention: Ms . Linda Daoang Officer-in-Charge Money Market and Operations Division Dear Ms. Daoang : Please be informed that at the annual stockholders meeting of MJCI held this morning, the following were elected members of the Board of Directors for the ensuing year: Santiago Cua Alfonso R. Reyno, Jr. John Anthony B. Espiritu Juanita Uy Tan Solomon S. Cua Mariza Santos-Tan Rogelio B. Espiritu Pedro O. Tan Martin R. Cepeda Immediately after the stockholders meeting, the Board of Directors held its organizational meeting and appointed the following officers to positions indicated opposite their respective names: Name Position 1. Santiago Cua Chairman of the Board 2. John Anthony B. Espiritu Vice-Chairman of the Board 3. Alfonso R. Reyno, Jr. President & Chief-Executive Officer 4. Juanita Uy Tan Treasurer 5. Ferdinand A. Domingo Corporate Secretary 6. Mariza Santos-Tan Assistant Treasurer 7. Alfonso Victorio G. Reyno, III Assistant Corporate Secretary Thank you, Very truly yours, (SGD.) FERDINAND A. DOMINGO Corporate Secretary