PSE Circular for Brokers No. 098-00

January 18, 2000 PSE CIRCULAR FOR BROKERS NO. 098-00 TO : LUISA BUENAVENTURA Philippine Stock Exchange Disclosure Department Fax No. 636-08-09 FROM : CENTRO ESCOLAR UNIVERSITY Fax No. 735-59-91 In the meeting held at 10:30 a.m. today, January 17, 2000, the Board of Directors unanimously approved the following: 1. Proposed amendments to the Articles of Incorporation: a) Increased in the number of directors, from 7 to 9 b) De-classification of shares, creation of only one class of share with par value of P1.00 per share llcd 2. Call for a Special Stockholders Meeting on March 17, 2000. 3. Holding of the rights offering Maximum of 30% of the outstanding capital stock. a) Issuance of additional shares from the unissued shares b) Registration and listing of shares 4. Declaration of cash dividend in favor of stockholders of record as of January 31, 2000 and payable on February 15, 2000, in the amount of P20.00/share. (SGD.) LOURDES T. ECHAUZ President