March 21, 2000

PSE CIRCULAR FOR BROKERS NO. 719-00

March 16, 2000
PHILIPPINE STOCK EXCHANGE
PSE Center, Exchange Road
Ortigas Center
Pasig City, Metro Manila

Attention: MS. GRACE DE GUIA

Listing and Disclosure

Gentlemen :

Please be advised that effective March 16, 2000 the Philippine Banking Corporation s new stock transfer agent is Metrobank-Trust Division located at 5th Floor, Metrobank Plaza, Sen. Gil Puyat Avenue, Makati City.

In this regard, all transactions related to Philbank shares should be delivered directly to the above new stock transfer agent.

For your information.

Thank you.

Very truly yours,

(SGD.) RENATO J. FERNANDEZ
Assistant Corporate Secretary