Cityland Development Corporation

May 20, 1999 PSE CIRCULAR FOR BROKERS NO. 1143-99 SUBJECT : Cityland Development Corporation Further to Circular No. 810-99 dated April 20, 1999, Cityland Development Corporation ("CDC") furnished the Exchange a copy of its SEC Form 34-C (Definitive Information Statement), including the President's Report for 1998, in connection with its Annual Stockholders' Meeting which will be held on June 1, 1999 , at 4:00 p.m., at the 3/F Cityland Condominium 10 Tower II, 6817 H.V. dela Costa St., Ayala Avenue, North Makati City. The agenda for the meeting shall be as follows: 1. Call to Order 2. Approval of Minutes of previous meeting 3. President's Report 4. Consideration and approval of the Annual Report and Related Financial Statements for the year 1998 5. Election of Directors 6. Appointment of the External Auditor 7. Confirmation of the Acts of the Management and the Board of Directors 8. Other matters which may be raised before the body 9. Adjournment As previously announced, stockholders of record as of May 2, 1999 are entitled to notice of, and to vote, at, said meeting. A copy of CDC's Definitive Information Statement, including the President's Report for 1998, is available for reference at the PSE Library and PSE-Plaza Administration Office. For your information. (SGD.) RAFAEL L. LLAVE Chief Operating Officer