PSE Circular for Brokers No. 1138-99

May 20, 1999 PSE CIRCULAR FOR BROKERS NO. 1138-99 SUBJECT : Empire East Land Holdings, Inc . Further to Circular No. 650-99 dated March 31, 1999, Empire East Land Holdings, Inc. ("ELI") furnished the Exchange a copy of its SEC Form 34-C (Definitive Information Statement), including its 1998 Annual Report, in connection with its Annual Stockholders' Meeting which will be held on June 8, 1999 , at 1:00 p.m., at the Eastwood City Information Center (Showroom), C-5 Road, Libis, Quezon City. The agenda for the meeting shall be as follows: 1. Call to Order 2. Certification of Notice and Quorum 3. Approval of the Minutes of the Annual Meeting of Stockholder held on April 17, 1998 4. Annual Report of Management 5. Amendment to Article Seven of the Articles of Incorporation Re: Increase in Authorized Capital Stock 6. Amendment to Article 1, Section 1 of the By-Laws Re: Date of Annual Meeting of Stockholders 7. Appointment of Independent Auditors 8. Ratification of the Acts of the Board of Directors, Executive Committee and Management during the year 1998 9. Election of Directors 10. Other business as may be properly brought before the meeting 11. Adjournment As previously announced, stockholders of record as of May 6, 1999 are entitled to notice of, and to vote, at, said meeting. cdlex A copy of ELI's Definitive Information-Statement, including its 1998 Annual Report, is available for reference at the PSE Library and PSE-Plaza Administration Office. For your information. (SGD.) RAFAEL L. LLAVE Chief Operating Officer