PSE Circular for Brokers No. 063-99

January 14, 1999 PSE CIRCULAR FOR BROKERS NO. 063-99 January 13, 1999 Securities & Exchange Commission SEC Building, E. delos Santos Avenue Mandaluyong City Attention: Atty . Linda Daoang Money Market Operations Department Philippine Stock Exchange, Inc. 12th Floor, Philippine Stock Exchange Centre Exchange Road, Ortigas Center Pasig City Attention: Mr . Reynaldo P . Ong Listing and Disclosure Department Mr . Ruben Almadro Compliance and Surveillance Department Gentlemen : Please be advised that Ayala Land, Inc. (ALI) and its wholly-owned subsidiary Laguna Properties Holdings, Inc. (LPHI) today entered into a joint-venture agreement with Acoland, Inc., the property arm of Aboitiz & Co. of Cebu. The joint-venture will involve the development of a middle-income housing community in Mandaue City in Cebu. cdpr Acoland, Inc. is the developer of NorthTown Subdivision, an upscale residential community in the province. The joint-venture project will be located next to Acoland's NorthTown Subdivision. Over 80 housing units priced within the range of P1.5 to P3 million will be built on 2.4-hectares of land using innovative building systems. Groundbreaking is scheduled in the first half of 1999. Very truly yours, (SGD.) MERCEDITA S. NOLLEDO Executive Vice President Corporate Secretary and Treasurer 11. Indicate the item numbers reported herein: Item 9 Item 9 . Other Events The company purchased an additional 3,000 shares of its owned Preferred Shares at an average cost of Php 710.00 This was done in line with the Board Resolution of January 27, 1998, to reduce the future obligations of the Corporation coming from the Convertible Preferred Shares offering. SIGNATURES 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 hereunto duly authorized. DMCI Holdings, Inc. (SGD.) Herbert M. Consunji Director and Chief Financial Officer January 12, 1999