April 12, 2000

BSP CIRCULAR LETTER

TO : All Banks and Non-Bank Financial Intermediaries

The Securities and Exchange Commission (SEC) approved on April 7, 2000 the Plan of Merger and Articles of Merger executed on January 20, 2000, by and between the BANK OF THE PHILIPPINE ISLANDS (BPI-Surviving Corporation) and FAR EAST BANK AND TRUST COMPANY (FEBTC-Absorbed Corporation), whereby the entire assets and liabilities of FEBTC will be transferred to and absorbed by BPI. cdphil

The merger took effect on April 7, 2000.

For your information and guidance. cdphil

(SGD.) ALBERTO V. REYES
Deputy Governor