PSE Circular for Brokers No. 015-99

January 6, 1999 PSE CIRCULAR FOR BROKERS NO. 015-99 SEC FORM 11-C CURRENT REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND RSA RULE 11(A)-1(B)(3) 1. Date of Report January 5, 1999 2. SEC Identification no. ASO94-006309 3. BIR TIN # 004-451-425 4. Name of Registrant Boulevard Holdings, Inc. 5. Jurisdiction of Incorporation Makati City, Metro Manila 6. Industry Classification Code (SEC Use) 7. Address of principal office 10/F Citibank Center, 8741 Paseo de Roxas cor. Villar St. Makati City 8. Registrant's telephone no. 750-44-88 9. Former name or former address, if changed since last report NA 10. Securities registered pursuant to Sections 4 and 8 of the RSA Title of each class No of shares of Common stock Outstanding and Amount of Debt Outstanding Common Stock 1,000,000,000 11. Item numbers reported: Item 9 Other events DETAILS OF ITEM 9 OTHER EVENTS DATE OF RESTRUCTURE August 27, 1998 DESCRIPTION OF EVENT PDCP bank approved the restructuring of a loan by Askar Ltd., a wholly owned subsidiary of Boulevard Holdings, Inc. (BHI) The loan has an outstanding balance of about US$5.4 million. The restructured loan is payable at fixed monthly amortization of US$130,000 (inclusive of interest and principal) for 54 months until January 6, 2003. NATURE OF ANY MATERIAL Askar is a wholly owned subsidiary of BHI RELATIONSHIP BETWEEN SUCH PERSON DISCUSSION OF THE IMPACT OF EVENTS ON THE CURRENT OR FUTURE OPERATIONS The restructuring of the Askar loan will further boost BHI's liquidity position, because instead of paying the full amount of US$ 5.4 million, the restructuring will result in a monthly payment of US$130,000 up to January, 2003 a much lighter mode of payment. As the general economic situation remains uncertain and prospective investors become hesitant to invest, the restructuring would preserve much needed cash to be used for other investment opportunities. cdpr SIGNATURE Pursuant to the requirements of the Revised Securities Act, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. (SGD.) ATTY. NONNATUS P. CHUA President (SGD.) MAURO B. BADIOLA AVP-Finance