PSE Circular for Brokers No. 947-99

May 3, 1999 PSE CIRCULAR FOR BROKERS NO. 947-99 SECURITIES AND EXCHANGE COMMISSION SEC FORM 11-C CURRENT REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND RSA RULE 11(a)-l(b)(3) THEREUNDER 1. 30 April 1999 (Date of earliest event reported) 2. SEC Identification Number 35815 3. BIR Tax Identification No. 000-489-462 4. PILIPINO TELEPHONE CORPORATION Exact name of registrant as specified in its charter 5. PHILIPPINES Province, country or other jurisdiction of Incorporation 6. [ ] (SEC Use Only) Industry Classification Code 7. 9th Floor Bankers' Centre 1200 6764 Ayala Avenue Postal Code Makati City Address of principal office 8. (632) 891-3888 Registrant's telephone number, including area code 9. N. A. 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 Licensed and Amount of Debt Outstanding Common Shares 1,688,088,793 common shares 1 Long Term Commercial Papers P1,000,000,000.00 shares 1 This excludes the subscription of Philippine Global Communications, Inc. (Philcom) to 258,237,558 common shares. 11. Indicate the item numbers reported herein: Item 4 Election of Directors/Officers and Item 9 Other Items Item 4 Election of Directors/Officers At the annual meeting of the stockholders of Pilipino Telephone Corporation (the "Company") held on 30 April 1999, the following were elected as directors: llcd 1) Napoleon L. Nazareno 2) Enrique D. Perez 3) Jose P. de Jesus 4) Ricardo R. Zarate 5) Benito P. Chiongian 6) Victor S. Chiongbian 7) Arturo B. Diago, Jr. 8) Ernesto Sta. Maria, Jr. 9) Roberto V. Ongpin 10) George N. Lim 11) Edward Hummer At the Organizational Meeting of the Board of Directors immediately following the annual meeting of stockholders, the following were elected as officers: Napoleon L. Nazareno President & Chief Executive Officer Ernesto C. Garcia Chief Operating Officer Arturo B. Diago, Jr. Treasurer &. Chief Administrative Officer Ma. Lourdes C. Rausa-Chan Corporate Secretary SIGNATURE Pursuant to the requirements of the Revised Securities Act, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereto duly authorized. PILIPINO TELEPHONE CORPORATION (SGD.) MA. LOURDES C. RAUSA-CHAN Corporate Secretary