Filinvest Land, Incorporated

May 21, 1999 PSE CIRCULAR FOR BROKERS NO. 1158-99 SUBJECT : Filinvest Land, Incorporated Further to Circular No. 968-99 dated May 4, 1999, Filinvest Land, Incorporated ("FLI") furnished the Exchange a copy of its SEC Form 34-C (Definitive Information Statement), including its SEC Form 11-A for the period ended December 31, 1998, in connection with its Annual Stockholders' Meeting which will be held on May 26, 1999 , at 9:00 a.m., at the FCC Marketing Office, Filinvest Corporate City, Alabang, Muntinlupa 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 Stockholders' Meeting held on May 22, 1998 4. Ratification of all the acts of the Board of Directors and the Corporate Officers 5. Election of Directors for the current year 1999-2000 6. Appointment of the External Auditors 7. Other Matters 8. Adjournment As previously announced stockholders of record as of May 1, 1999 are entitled to notice of, and to vote, at, said meeting and any adjournment thereof. A copy of FLI's Definitive Information Statement, including its SEC-Form 11-A, is available for reference at the PSE Library and PSE-Plaza Administration Office. aisadc For your information. (SGD.) RAFAEL L. LLAVE Chief Operating Officer