March 24, 2000

PSE CIRCULAR FOR BROKERS NO. 771-00

March 23, 2000

DISCLOSURES GROUP
Philippine Stock Exchange, Inc.
PSE Centre, Exchange Road
Ortigas Center, Pasig, City

Attention: MS. GRACE B. DE GUIA
Assistant Manager

Gentlemen:

Please be advised that the annual meeting of the stockholders of the Bank will be scheduled sometime within the month of May 2000, instead of within next month, April, 2000, to enable us to comply with the Securities and Exchange Commission requirement for the filing, of the necessary proxy/information statements.

We will be advising you in due time of the specific date for said meeting.

Thank you for your kind attention.

Very truly yours,

(SGD.) CORAZON M. BEJASA
Corporate Secretary

(SGD.) JUAN ANTONIO R. LOPEZ
Assistant Manager