PSE Circular for Brokers No. 1219-98

June 2, 1998 PSE CIRCULAR FOR BROKERS NO. 1219-98 2 June 1998 Philippine Stock Exchange Center, Exchange Road Ortigas Center, Pasig City As per your letter of inquiry last 1 June 1998, we would like to inform your office that the investigations on the fire incident of the Marcos Highway warehouse club last May 21, 1998 is still in progress. We will be informing you as soon as we receive the results thereof. Please be informed further that based on UHI's 1997 results of operations, the Marcos Highway Warehouse Club franchise operations contributed around 10% of the total Rental Income and 11% of the Franchise Fee revenues of Uniwide Holdings. Inc. (UHI). The figures represented 6% of the total gross revenues of UHI during the same period. The net book value of the property as recorded in the Uniwide Sales Realty and Resources Corporation (USRRC), UHI's wholly owned subsidiary, amounted to P54.3M which is 0.5% of the consolidated property and equipment or 0.4% of the consolidated assets of UHI. Conclusively, the effect of the loss, based on these figures, will not materially affect the consolidated financial position of UHI considering that the company will still be deriving franchise and rental revenues from the remaining 10 stores being operated by Uniwide Sales Warehouse Club, Inc. The company also derives franchise fees from the 40 24-hour convenience stores. We hope you will find the above in order. Thank you very much. Very truly yours. (SGD.) SUSAN O. LIGERALDE Investor Relations Manager