May 3, 2000

BSP CIRCULAR LETTER

TO : All Banks and Non-Bank Financial Intermediaries

The Securities and Exchange Commission (SEC) approved on March 2, 2000 the Plan of Merger by and between Pilipinas Bank (Absorbed Corporation) and Prudential Bank (Surviving Corporation) dated September 23, 1999 and August 18, 1999, respectively and the Articles of Merger dated September 24, 1999 and October 8, 1999, respectively, whereby the entire assets and liabilities of Pilipinas Bank will be transferred to and absorbed by Prudential Bank. cda

The merger took effect on May 2, 2000.

For your information and guidance. cdphil

(SGD.) ALBERTO V. REYES
Deputy Governor

AIC Grande Tower Garnet Road
Ortigas Center, Pasig City
Metro Manila Philippines

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