NEWSFLASH

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STOCK MARKET RALLY CONTINUES

Manila, Dec. 11, 1997 - The stock market gained 1.14% for the 8th straight day as businessmen welcomed the passage of the comprehensive tax reform program bill yesterday.

Investors said the bill was favorable to investors since it ensures that the government will be able to generate funds for its programs and projects, which will benefit the whole country and the economy.

Value turnover was a hefty P2.35 billion, with 1.21 billion shares traded.

The big gainers were: Greater Asia Resources Corp (up 18.75%), Swift Foods (up 16.87%), Philex Mining (up 12.7%), Selecta Dairy Products (up 12.50%) and Basic Consolidated (up 10.53%).

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