PSE Circular for Brokers No. 071-00

January 12, 2000 PSE CIRCULAR FOR BROKERS NO. 071-00 January 11, 2000 LISTINGS AND DISCLOSURE GROUP Philippine Stock Exchange 4/F Philippine Stock Exchange Center PSE Center, Exchange Road Ortigas Center, Pasig City Attention: Ma . Luisa W . Buenaventura Supervisor Disclosure Department Gentlemen : We refer to your facsimile letter dated 11 January 2000 requesting clarification on the news article captioned "Investors to put in P3B in CCI" published in today's issue of the Manila Times. Guoco Holdings (Philippines). Inc. currently owns approximately 23% of the outstanding capital stock of CCI. During the Board of Directors' and Shareholders' meetings of Centennial City Inc: (CCI) held yesterday, the CCI Board of Directors and Shareholders approved CCI's capital raising plans and designated the Executive Committee to negotiate the investment terms with potential investor(s) who may make its formal entry into CCI for a proposed capital infusion of P3 billion, through the issuance of Convertible Preferred Shares. The resulting equity holdings of the investor(s) will depend on the finalization of the negotiations with the investor(s). cdll Very truly yours, (SGD.) DAISY L. PARKER Corporate Secretary