PSE Circular for Brokers No. 898-99

April 28, 1999 PSE CIRCULAR FOR BROKERS NO. 898-99 April 27, 1999 Philippine Stock Exchange 4/F Philippine Stock Exchange Center PSE Center, Exchange Road Ortigas Center, Pasig City Metro Manila Attention: Disclosure Department Listing and Disclosure Group Gentlemen : In compliance with the disclosure, requirements of the Philippine Stock Exchange, we advise that during the meeting of the Board of Directors of our Company on April 27, 1999, the following cash dividends were declared: 1. P0.50 per share on the Company's Series G 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending May 31, 1999, payable June 30, 1999 to the holders of record on May 27, 1999. 2. P0.50 per share on the Company's Series N 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending May 31, 1999, payable June 30, 1999 to the holders of record on May 27, 1999. aisadc 3. P0.50 per share on the Company's Series P 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending May 31, 1999, payable June 30, 1999 to the holders of record on May 27, 1999. 4. P0.50 per share on the Company's Series S 10% Cumulative Convertible Preferred Stock, for the semi-annual period ending May 31, 1999, payable June 30, 1999 to the holders of record on May 27, 1999. Thank you. CASH DIVIDEND (SERIES G, N, P, & S): CASH P0.50 per share EX-CASH May 21, 1999 RECORD DATE May 27, 1999 DATE PAYABLE June 30, 1999 Very truly yours, (SGD.) MA. LOURDES C. RAUSA-CHAN Corporate Secretary