Philippine Stock Exchange Centre

February 2, 1998 PSE CIRCULAR FOR BROKERS NO. 015-98 30 January 1998 PHILIPPINE STOCK EXCHANGE Philippine Stock Exchange Centre, Exchange Road Ortigas Center, Pasig City, Metro Manila Attention : Atty . Ruben L . Almadro VP Compliance & Surveillance Group Gentlemen : Please be informed that the respective Management of CENTRAL AZUCARERA DE LA CARLOTA and CENTRAL AZUCARERA DON PEDRO , pursuant to the authorizations given by their respective Boards of Directors in their meetings held on 9 September 1997 and 27 August 1997, respectively, have finalized and executed today, 30 January 1998, a Memorandum of Agreement containing the terms and conditions governing the purchase/acquisition by CENTRAL AZUCARERA DON PEDRO of Thirty Million Class "A " Common Shares of CENTRAL AZUCARERA DE LA CARLOTA at the price of Five Pesos ( P5 . 00 ) per share or a total consideration of One Hundred Fifty Million Pesos (P150,000,000 . 00 ), Philippine Currency. The above mentioned authorizations were previously and timely disclosed to the Exchange and the Securities and Exchange Commission. cdasaia This disclosure is likewise given pursuant to the policy of the Exchange requiring full, fair, timely and accurate disclosure of material information which may affect the value and trading of listed shares. Very truly yours, (SGD.) FLORENCIO M. MAMAUAG, JR. Assistant Corporate Secretary CADP 30 January 1997 (FAX NO. 6360809/6378811) PHILIPPINE STOCK EXCHANGE Philippine Stock Exchange Centre, Exchange Road Ortigas Center, Pasig City, Metro Manila Attention : Atty . Ruben L . Almadro VP Compliance & Surveillance Group Gentlemen : Please be informed that the respective Management of CENTRAL AZUCARERA DE LA CARLOTA and CENTRAL AZUCARERA DON PEDRO , pursuant to the authorizations given by their respective Boards of Directors in their meetings held on 9 September 1997 and 27 August 1997, respectively, have finalized and executed today, 30 January 1998, a Memorandum of Agreement containing the terms and conditions governing the purchase/acquisition by CENTRAL AZUCARERA DON PEDRO of Thirty Million Class "A " Common Shares of CENTRAL AZUCARERA DE LA CARLOTA at the price of Five Pesos (P5 . 00 ) per share or total consideration of One Hundred Fifty Million Pesos (P150,000,000 . 00 ), Philippine Currency. The above mentioned authorizations were previously and timely disclosed to the Exchange and the Securities and Exchange Commission. This disclosure is likewise given pursuant to the policy of the Exchange requiring full, fair, timely and accurate disclosure of material information which may affect the value and trading of listed shares. Very truly yours, (SGD.) FLORENCIO M. MAMAUAG, JR. Assistant Corporate Secretary