March 20, 2000
PSE CIRCULAR FOR BROKERS NO. 704-00
March 17, 2000
PHILIPPINE STOCK EXCHANGE
Listings and Disclosure Group
4/F Philippine Stock Exchange Center
PSE Center, Exchange Road
Ortigas Center, Pasig City
Attention : Disclosure Department
Gentlemen :
Security Bank Corporation (SBC) hereby notifies the Exchange that at the special meeting of the Board of Directors held today from 2:30 p.m. to 3:00 p.m., said Board approved the merger of SBC Information Technology, Inc. (SITI) and SB Savings Bank, Inc. (SBSBI) with SBC, with SBC, as the surviving. corporation. SITI and SBSBI are wholly-owned subsidiaries of SBC. ITHADC
Very truly yours,
(SGD.) LOURDES L. CRISOSTOMO
Assistant Corporate Secretary