New Composition of PSE Composite Index

February 25, 1998 PSE MEMO FOR BROKERS NO. 095-98 SUBJECT : New Composition of PSE Composite Index The PSE Board of Governors has approved the new composition of the Composite Index as well as the sub-sectors' indices to take effect on Monday, 02 March, 1998. The new composition is the result of the review and evaluation of current components for two consecutive review periods. Elimination and inclusion to the basket of stocks were guided by criteria and rules governing the selection of index stocks. cdlex The new composition of the indices are attached for your information. NEW COMPOSITION OF THE PSE COMPOSITE INDEX Replace component stocks that do not pass the selection criteria and maintain the current number of constituent stocks of thirty (30) . 1. Metropolitan Bank & Trust Company 16. Petron Corporation 2. Philippine Long Distance Telephone Company 17. Phil. Commercial International Bank, Inc. 3. San Miguel Corporation 18. Filinvest Development Corporation 4. Jollibee Foods Corporation 19. Benpres Holdings Corporation 5. Manila Electric Company 20. Filinvest Land, Inc. 6. International Container Terminal Services, Inc. 21. JG Summit Holdings, Inc. 7. Ayala Corporation 22. Philippine National Bank 8. Belle Corporation 23. ABS-CBN Broadcasting Corporation 9. DMCI Holdings, Inc. 24. Metro Pacific Corporation 10. Southeast Asia Cement Holdings, Inc. 25. La Tondea Distillers, Inc. 11. Ionic Circuits, Inc. 26. Fil-Estate Land, Inc. 12. C&P Homes, Inc. 27. Digital Telecommunications Phils., Inc. 13. Ayala Land, Inc. 28. Pilipino Telephone Corporation 14. SM Prime Holdings, Inc. 29. Aboitiz Equity Ventures, Inc. 15. Lepanto Consolidated Mining Company 30. Megaworld Properties & Holdings, Inc. NEW COMPOSITION OF THE COMMERCIAL INDUSTRIAL SECTOR INDEX Replace component stocks that do not pass the selection criteria and maintain the current number of constituent stocks of fifty (50) . 1. Ayala Corporation 26. Ionic Circuits, Inc. 2. San Miguel Corporation 27. RFM Corporation 3. Manila Electric Company 28. Mondragon International Philippines, Inc. 4. Philippine Long Distance Telephone Company 29. Digital Telecommunications Phils., Inc. 5. Petron Corporation 30. Music Corporation 6. Filinvest Development Corporation 31. Republic Glass Holdings Corporation 7. JG Summit Holdings, Inc. 32. Asian Terminals, Inc. 8. Pilipino Telephone Corporation 33. Waterfront Philippines, Inc. 9. Benpres Holdings Corporation 34. A. Soriano Corporation 10. ABS-CBN Broadcasting Corporation 35. Hi Cement Corporation 11. Metro Pacific Corporation 36. Alsons Consolidated Resources, Inc. 12. Aboitiz Equity Ventures, Inc. 37. APC Group, Inc. 13. Universal Robina Corporation 38. EEI Corporation 14. Jollibee Foods Corporation 39. Steniel Manufacturing Corporation 15. DMCI Holdings, Inc. 40. Air Philippines International Corp. 16. Southeast Asia Cement Holdings, Inc. 41. Cosmos Bottling Corporation 17. Belle Corporation 42. Reynolds Philippines Corporation 18. La Tondea Distillers, Inc. 43. Greater Asia Resources Corporation 19. Fortune Cement Corporation 44. Alaska Milk Corporation 20. International Container Terminal Services, Inc. 45. Swift Foods, Inc. 21. First Philippine Holdings Corporation 46. Abacus Cons. Resources & Holdings, Inc. 22. Guoco Holdings (Phils.), Inc. 47. Liberty Telecoms Holdings, Inc. 23. Solid Group, Inc. 48. Mabuhay Holdings Corporation 24. Alsons Cement Corporation 49. Crown Equities, Inc. 25. Globe Telecom GMCR, Inc. 50. Selecta Dairy Products, Inc. NEW COMPOSITION OF THE PROPERTY SECTOR INDEX Maintain the current number of constituent stocks of ten (10) and replace the component stocks that do not pass the selection criteria . 1. Ayala Land, Inc. 6. Megaworld Properties & Holdings, Inc. 2. SM Prime Holdings, Inc. 7. Uniwide Holdings, Inc. 3. C&P Homes, Inc. 8. Primetown Property Group, Inc. 4. Filinvest Land, Inc. 9. Empire East Land Holdings, Inc. 5. Fil-Estate Land, Inc. 10. Universal Rightfield Property Holdings, Inc. NEW COMPOSITION OF THE BANKS & FINANCIAL SERVICES SECTOR INDEX Replace component stocks that do not pass the selection criteria and maintain the current number of constituent stocks of ten (10) . 1. Metropolitan Bank & Trust Company 6. Union Bank of the Philippines 2. Bank of the Philippine Islands 7. Security Bank Corporation 3. Philippine Commercial International Bank, Inc. 8. Philippine Savings Bank 4. Philippine National Bank 9. Bankard, Inc. 5. Far East Bank & Trust Company 10. Vantage Equities, Inc. NEW COMPOSITION OF THE MINING SECTOR INDEX Replace component stocks that do not pass selection criteria and maintain the current number of constituent stocks of seven (7) . 1. Philex Mining Corporation 2. Lepanto Consolidated Mining Company 3. Manila Mining Corporation 4. Abra Mining & Industrial Corporation 5. United Paragon Mining Corporation 6. Atlas Consolidated Mining & Development Corporation 7. Itogon-Suyoc Mines, Inc. NEW COMPOSITION OF THE OIL SECTOR INDEX Reduce the number of constituent stocks from ten (10) to six (6) in the absence of qualified stocks and delete the current component stock that has plan to change its primary purposes . 1. Oriental Petroleum & Mineral Corporation 4. Trans-Asia Oil & Mineral Development Corporation 2. The Philodrill Corporation 5. Alcorn Petroleum & Minerals Corporation 3. South China Petroleum & Exploration, Inc. 6. Vulcan Industrial & Mining Corporation