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Postponement of Annual Stockholders' Meetings

PSE Circular for Brokers No. 1234-99 • Philippine Stock Exchange • Circulars for Brokers • May 28, 1999

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May 28, 1999 PSE CIRCULAR FOR BROKERS NO. 1234-99 May 21, 1999 PHILIPPINE STOCK EXCHANGE Philippine Stock Exchange Center Exchange Road, Ortigas Center Pasig City Attention: Ms . Maria Isabel T . Garcia Head, Listings Group Compliance Monitoring SUBJECT : Postponement of Annual Stockholders' Meetings Gentlemen : The Board of Directors of PDCP Development Bank, Inc. has decided to postpone the annual meeting of its stockholders to another date to be determined at the next Board meeting. The Bank's external auditor, Sycip Gorres Velayo & Company has not yet finished its audit of the Bank, hence, the Bank could not finalize the Information Statement to be submitted to the SEC for its approval. cdt Very truly yours, (SGD.) ELMER D. NITURA First Vice President & Corporate Information Officer

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