PSE Circular for Brokers No. 029-00

January 6, 2000 PSE CIRCULAR FOR BROKERS NO. 029-00 January 5, 2000 MS. GRACE B. DE GUIA Asst. Manager, Disclosure Department Philippine Stock Exchange Center Pasig City Dear Ms. Buenaventura : We refer your to your fax letter dated January 5, 2000 relative to your queries pertaining to the following: 1. 'dacion en pago' arrangements with the United Coconut Planters Bank in settlement of loan obligations of the Uniwide Group totalling P1.044 billion; and cdlex 2. effect of the sale of Uniwide Family Stores owned by First Paragon Corporation on the revenues of UHI. In reply thereto, following is a list of properties forming part of the 'dacion en pago' arrangements with UCPB. Type of Property Location Area in sqms. Land, Building & Improvements Tambo, Baclaran 3,111 Land Calaanan, Kalookan City 14,529 Land Dreamworld (Phase i), Naic, Cavite 112,865 With reference to item (2) above, the sale of the Uniwide Family Stores owned and operated by First Paragon Corporation effectively reduces the franchise fee revenues of UHI. I-mart International Corporation shall operate these conveniences stores using their own name and system. Please be informed, however, that there still remains four (4) Uniwide Family Stores franchises of UHI which are owned and operated by third party franchisees and from which UHI collects franchise fees. We trust you will find the above in compliance with the requirements. Very truly yours, (SGD.) SUSAN O. LIGERALDE Investor Relations Manager