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Resignation of the Chairman of Zipporah Realty Holdings, Inc.

PSE Circular for Brokers No. 1236-98 • Philippine Stock Exchange • Circulars for Brokers • Jun 3, 1998

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June 3, 1998 PSE CIRCULAR FOR BROKERS NO. 1236-98 June 3, 1998 PHILIPPINE STOCK EXCHANGE, INC. Disclosure Department Listings and Disclosure Group 4/F Philippine Stock Exchange Center PSE Center, Exchange Road Ortigas Center, Pasig City Fax No.: 636-08-09 Attention: Mr . Reynold P . Ong Vice-President, Listings & Disclosure Group SUBJECT : Resignation of the Chairman of Zipporah Realty Holdings, Inc . Gentlemen : In compliance with the reportorial requirements of the Philippine Stock Exchange, Inc., please be advised that the Corporation received today, 03 June 1998, a letter from Mr. Edgardo B. Espiritu in which he tendered his resignation as Chairman of the Board of Directors of the Corporation effective the close of business hours on 31 May 1998. Mr. Espiritu's successor as Chairman of the Board of Directors of the Corporation shall be elected at the forthcoming Organizational Meeting of the Board of Directors on Saturday, 27 June 1998. We trust that you will find the foregoing in order. Very truly yours, (SGD.) PARTRICIA A. O. BUNYE Assistant Corporate Secretary

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