A Portfolio of Philippine Telecom Stocks
As of August 20, 1999

Digital (DGTL) 1.5600 +0.0600
Phil. Long Distance (TEL) 970.0000 +45.0000
Globe Telecom (GLO) 11.7500 +0.0000
Liberty Telecom (LIB) 0.4800 -0.0100
Phil. Telegraph (PTT) 0.5900 +0.0000
Pilipino Tel. (PLTL) 1.9000 -0.0600
Metro-Pacific (MPC) 1.6400 +0.0000
Benpres Holdings (BPC) 8.3000 +0.1000
APC Group (APC) 0.8000 -0.0200
So. China (SOC) 0.5100 +0.0000


Note: MPC, BPC, APC and SOC are holding companies with investments in telecom-related companies.