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March 22, 2000PSE CIRCULAR FOR BROKERS NO. 744-00March 21, 2000PHILIPPINE STOCK EXCHANGEPSE Center, Exchange RoadOrtigas CenterPasig City Metro ManilaAttention: MS. GRACE DE GUIAListing and DisclosureGentlemen :At the special meeting of the Board of Directors of the Philippine Banking Corporation ("Philbank") at 5:00 p.m. today, 21 March 2000 at which a quorum was present and acting throughout, the Board of Directors unanimously approved a motion to re-set the record date for the determination of the stockholders entitled to notice and vote at the annual meeting of Philbank on 02 May 2000 to 04 April 2000. We are making this disclosure in compliance with the Continuing Listing Requirements at the Philippine Stock Exchange.Very truly yours,THE PHILIPPINE BANKING CORPORATIONBy: (SGD.) RENATO J. FERNANDEZCorporate Information Officer