Jollibee to Hold Stockholders Meeting

May 6, 1999 PSE CIRCULAR FOR BROKERS NO. 996-99 JOLLIBEE TO HOLD STOCKHOLDERS MEETING Jollibee Foods Corporation is scheduled to hold its Annual Stockholders' Meeting on May 10 (Monday) at 2:30 p.m. at. the Club Filipino in Greenhills, San Juan. Company chairman and president Tony Tan Caktiong will report Jollibee's performance and general business directions. Stockholders of record as of March 18, 1999 are entitled to attend and vote in the shareholders' meeting. The company a publicly listed corporation with over 5,000 stockholders is the country's largest quick food service company. It had announced consolidated net income of P872 million from consolidated revenues of P11.6 billion and systemwide sales of P14.5 billion in 1998. cdt Jollibee attributed the strong operating and financial performance to its broad and well-positioned market coverage nationwide, its superior brand equity and its cost advantage arising from its in-house manufacturing and distribution infrastructure. It also enjoys a very healthy financial position, with minimal debt and robust cash levels. The Jollibee brand had a total of 302 stores as of the end of 1998, while Greenwich had 169 outlets. Jollibee is the country's largest fastfood chain and the leader in the total food service industry. Greenwich became the pizza pasta segment leader with over P2.0 billion in systemwide sales fast year.