PSE Circular for Brokers No. 1133-99

May 19, 1999 PSE CIRCULAR FOR BROKERS NO. 1133-99 Philippine Stock Exchange Philippine Stock Exchange Centre Exchange Road, Ortigas Center Pasig City Attention: Disclosure Department Listings And Disclosure Group Gentlemen : We hereby give notice that in the special meeting of the Board of Directors of the University held this morning, May 19, 1999, Meeting No. D-30-99, a resolution was adopted declaring a cash dividend equivalent to 2% (P 2.00 per share) in favor of the stockholders of record as of June 3, 1999 and payable on June 30, 1999. We quote hereunder the said resolution. "RESOLVED, That out of accumulated retained earnings of the University prior to January 1, 1998 (1997 and prior years), a cash dividend equivalent to 2 % (P 2.00 per share) be, as it is hereby, declared in favor of the stockholders of record as of June 3, 1999 and payable on June 30, 1999." Please be guided accordingly. CASH DIVIDEND : CASH P 2.00 PER SHARE EX-CASH MAY 28, 1999 RECORD DATE JUNE 3, 1999 DATE PAYABLE JUNE 30, 1999 Very truly yours, CENTRO ESCOLAR UNIVERSITY (SGD.) ROBERTO V. BARRETTO Asst. Corporate Secretary