Aboitiz Equity Ventures, Inc.

May 12, 1998 PSE CIRCULAR FOR BROKERS NO. 993-98 SUBJECT : Aboitiz Equity Ventures, Inc . Further to Circular No. 389-98 dated March 17, 1998, Aboitiz Equity Ventures, Inc. ("AEV") furnished the Exchange on May 7, 1998 a copy of SEC Form 34-C (Definitive Information Statement) in connection with its Annual Stockholders' Meeting which will be held on May 12, 1998 , at 4:00 p.m., at the Ballroom, Cebu Marriott Hotel, Cebu City. The agenda for the meeting shall be as follows: 1. Call to Order 2. Proof of Notice of Meeting and Quorum 3. Reading and Approval of the Minutes of the Previous Stockholders' Meeting 4. Presentation of the Report of the President and of the Board of Directors 5. Ratification of the Acts, Resolutions and Proceedings of the Board of Directors, Corporate Officers and Management during the preceding year 6. Election of External Auditors 7. Election of Directors 8. Other Business 9. Adjournment As previously announced, stockholders of record as of March 27, 1998 , are entitled to notice of, and to vote at, said meeting. A copy of AEV's SEC Form 34-C is available for reference at the PSE Library and PSE-Plaza Administration Office. For your information. (SGD.) REYNOLD P. ONG Vice-President, Listings and Disclosure Group