Bank of the Philippine Islands Additional Listing

April 30, 1999 PSE CIRCULAR FOR BROKERS NO. 930-99 SUBJECT : Bank of the Philippine Islands Additional Listing The Exchange approved on November 11, 1998, the application of BANK OF THE PHILIPPINE ISLANDS (the "Company") to list additional 53,874,000 common shares, with a par value of P10.00 per share , to cover the underlying common shares of 53,874,000 converted preferred "A" shares , at a conversion ratio of one common share for every one preferred "A" share held. Said preferred shares were fully converted on August 1, 1997. Furthermore, the Exchange noted the delisting of the Company's 53,874,000 preferred "A" shares by virtue of the holders' exercise of its conversion rights into common shares. cdpr In view thereof, the listing of 53,874,000 common shares is set for Friday, April 30,1999 . For your information and guidance. (SGD.) JOSE LUIS U. YULO, JR. President & CEO