Delivery of Stock Certificates for Verification and Settlement

March 30, 2000 PSE MEMO FOR BROKERS NO. 087-00 SUBJECT : Delivery of Stock Certificates for Verification and Settlement Further to Circular No. 52-2000 dated February 24, 2000, please be informed that effective April 3, 2000, the following listed issues shall be covered by the Depository's new lodgment and upliftment procedures: PLDT Common Shares - (TEL) cdll PLDT Preferred Series A to Z - (TELA to TELZ) The transfer agent for TEL - Common shares is Hongkong & Shanghai Banking Corporation; while it is Rizal Commercial Banking Corporation for the TEL Preferred Series. Please be guided accordingly. (SGD.) JOSE G. CERVANTES Chief Operating Officer February 24, 2000 PSE MEMO FOR BROKERS NO. 052-00 SUBJECT : Delivery of Stock Certificates for Verification and Settlement Please be informed that during its regular meeting on 26 January 2000, the Board of Governors approved the following resolution, to wit: Resolution No . 17, Series of 2000 "RESOLVED, as it is hereby resolved, that the Exchange require all clients to deliver their stock certificates to their selling brokers on or before trading date (T + 0) and all brokers to deliver these instruments to the PCD not later than 12:00 noon T+1, and for PCD to deliver the instruments to the transfer agent on the same day, to complete the verification process in time for T+4 settlement. RESOLVED FURTHER, that this rule applies only to issues where no immediate credit is given by PCD to brokers lodgments. LibLex RESOLVED, FURTHER, that as of 01 March 2000, the issues covered by the no immediate credit policy are the following: 1. Manulife Corporation 2. Ayala Corporation 3. Ayala Land, Inc. 4. Bank of the Philippine Islands 5. Globe Telecom, Inc. 6. Purefoods Corporation RESOLVED, FINALLY, that this list will be updated from time to time as additional issues become covered by the new lodgment procedure. For your strict compliance. JOSE FERNANDO T. ALCANTARA Officer-in-Charge