PSE Circular for Brokers No. 966-98

May 7, 1998 PSE CIRCULAR FOR BROKERS NO. 966-98 REPUBLIC OF THE PHILIPPINES ) CITY OF CEBU )S.S. CERTIFICATION The undersigned, SYLVA G. AGUIRRE-PADERANGA , after having been duly sworn according to law, hereby deposes and states that: 1. She is a Filipino, of legal age, married, and a resident of Cebu City, Philippines; 2. She is the duly elected Assistant Corporate Secretary of ABOITIZ EQUITY VENTURES, INC., a corporation duly organized and existing under and by virtue of the laws of the Philippines; cdt 3. She hereby certifies that the following AEV shares of stock were purchased by the Corporation in pursuance of the AEV shares buy-back program approved by the Board of Directors: Date # of Shares U. Price Total Value May 5, 1998 9,676, 000 1.96 18,964,960.00 1,718,000 1.96 3,367,280.00 11,394,000 P22,332,240.00 Cebu City, Philippines, May 5, 1998. ABOITIZ EQUITY VENTURES, INC. By: (SGD.) SYLVA G. AGUIRRE-PADERANGA Assistant Corporate Secretary SUBSCRIBED AND SWORN to before me this May 05, 1998 at Cebu City, Philippines. Affiant exhibiting to me her Comm. Tax Cert. No. 3507567 issued at Cebu City on February 27, 1998. Doc. No. 1; Page No. 2; Book No. I; Series of 1998.