PSE Circular for Brokers No. 1026-99

May 10, 1999 PSE CIRCULAR FOR BROKERS NO. 1026-99 SECURITIES AND EXCHANGE COMMISSION SEC FORM 11-C CURRENT REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND RSA RULE 11(a)-(b)(3) THEREUNDER 1. May 7, 1999 Date of Report 2. SEC Identification Number : AS094-006430 3. BIR Tax Identification Number : 003-942-108 4. EMPIRE EAST LAND HOLDINGS, INC. Exact name of registrant as specified in its charter 5. Metro Manila Province, Country or other jurisdiction of incorporation or organization 6. (SEC Use Only) Industry Classification Code 7. 21st Floor, The World Centre 330 Sen. Gil J. Puyat Avenue Makati City, Philippines 1227 Address of principal office 8. (632) 867-8351 to 59 Registrant's telephone number, including area code 9. Securities registered pursuant to Sections 4 and 8 of the Revised Securities Act Title of Class No. of Shares Outstanding Common 5,676,530,649 Preferred 1,200,000,000 10. Item 9. Other Events The Executive Committee of Empire East Land Holdings, Inc. (the "Corporation") approved, this afternoon, the subscription to Seven Hundred Fifty Million (750,000,000) common shares of the Corporation, at the subscription price of One Peso and Thirty Centavos (P1.30) per share, which is thirty-three percent (33%) higher than the current market price. llcd The subscribers and their respective subscriptions are as follows: SUBSCRIBER NO. OF SHARES AMOUNT OF SUBSCRIPTION Raffles & Company, Incorporated 375,000,000 P487,500,000 Anderson Global, Inc. 375,000,000 P487,500,000 The common share to be issued to the foregoing subscribers will be sourced from the P3 Billion proposed increase in authorized capital stock of the Corporation which will be submitted to the stockholders for approval at the Corporation's annual stockholders' meeting on June 8, 1999. 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. EMPIRE EAST LAND HOLDINGS, INC. By: (SGD.) MA. THERESA CALLANTA-HOADLEY Senior Vice President