PSE Circular for Brokers No. 1000-98

May 12, 1998 PSE CIRCULAR FOR BROKERS NO. 1000-98 SECURITIES AND EXCHANGE COMMISSION SEC FORM 11-C CURRENT REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND RSA RULE 11(a)-1(b)(3) THEREUNDER 1. Date of Report (Date of earliest event reported): 30 April 1998 2. SEC Identification Number: 17596 3. BIR Tax Identification No. 039-000-910-715 4. Exact name of registrant as specified in its charter: Asiatrust Development Bank, Inc. 5. Province, country or other jurisdiction of incorporation: Metro Manila, Philippines 6. Industry Classification Code: (SEC Use Only) 7. Address of Principal Office: 1424 Quezon Avenue, Quezon City, M.M. Postal Code: 1103 8. Registrant's telephone number, including area code: (632) 373-41-01 to 02 9. Former name or former address, if chanced since last report: N/A 10. Securities registered pursuant to Section 4 and 8 of the RSA: Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Outstanding Liabilities (as of 31 March 1998) Common Shares 104,013,225/P6,348,046,000 11. Indicate the item numbers reported herein: 2 2. Acquisition or Disposition of Asset the regular Board Meeting held on 30 April 1998, the Board of Directors approved the authority of the Bank, subject to Monetary Board Approval, to invest in ATB Realty Corporation, a newly registered corporation engaged in home building and home development. The said investment shall be in the form of exchange of certain acquired properties of the Bank with current fair market fair value of Twenty Six Million Four Hundred Twenty Thousand Pesos (P26,420,000.00) with 2,642,000.00 shares of stock of the ATB Realty Corporation with par value of Ten Pesos (P10.00) per share. The following properties, which are all registered in the name of Asiatrust Bank shall be exchanged for shares: cdt Account Name Fair Market Value ASA Marketing 764,000 Camargo, Nenita 1,078,600 F. Tagle 1,272,000 Ignacio, Wilfredo 140,000 Javier, Nicasio 98,000 Jopson Aqualivestock 6,600,000 Leuterio, Melchor 1,000,000 Santiago, Benjamin 253,000 Santos, Arturo 64,020 Santos, Josefina 70,200 Suntrade Enterprises 2,387,500 Venegas, Manuel 375,000 Vergara, Ricardo 32,400 Canlas, Jose 3,701,600 Canlas, Jose 720,000 Artadi, Carmen 1,212,000 Babes, Meat Dealer 794,000 Balagtas, Rolando 1,748,800 F. Tagle 765,000 Jocson, Ruben 1,909,500 Ocariz, Donato 1,438,000 TOTAL 26,423,620 Items 9. Other Events 1. Opening of 25th and 26th Branches ATB shall open its Banawe and Meycauayan branches on 08 May 1998 and 12 respectively. The Banawe branch is located at 740 Banawe St., Quezon City while the Meycauayan branch is located at Mc.Arthur Highway corner Gen. Pacheco St., Calvario, Meycauayan Bulacan. cdlex 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 hereunto duly authorized. ASIATRUST DEVELOPMENT BANK, INC. Registrant (SGD.) MA. NERIZA C. SAN JUAN Vice President Corporate Legal Counsel