China Banking Corporation

May 12, 1998 PSE CIRCULAR FOR BROKERS NO. 997-98 SUBJECT : China Banking Corporation China Banking Corporation ("CHIB") informed the Exchange, in a letter dated May 7, 1998, that at its Annual Meeting of Stockholders held on even date, the following were elected directors to serve as such for the fiscal year 1998 to 1999 or until their successors are duly elected and qualified: 1. Peter S. Dee 2. Gilbert U. Dee 3. Hans T. Sy 4. Herbert T. Sy 5. Regina Y. Dee 6. Joaquin T. Dee 7. Pilar N. Liao 8. Benjamin D. Ynson 9. Henry Dee Se Gui 10. Dy Tiong 11. Herman Chen Furthermore, at the Board of Directors' organizational meeting held immediately following the stockholders' meeting, the following executive officers up to the rank of First Vice-President were re-elected, namely: cdt Gilbert U. Dee Chairman of the Board Peter S. Dee President & Chief Executive Officer Ricardo R. Chua Executive Vice-President & Chief Operating Officer Danilo A. Alcoseba Senior Vice-President & Head, Treasury Group Reynaldo L. Lao Senior Vice-President & Head, Consumer Banking Group Honorio Reyes-Lao Senior Vice-President & Head, Marketing or Account Management Group Lawrence Y. L. See Senior Vice-President & Senior Executive Marketing Officer Nancy D. Yang Senior Vice-President & Head, Branch Banking Group Samuel L. Chiong First Vice-President & Regions Head, Branch Banking Group Margarita L. San Juan First Vice-President, Account Management Group Ramon R. Zamora First Vice-President & Head, International Division A complete list of committee members and officers re-elected 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