Acquisition of Assets

June 16, 1998 PSE CIRCULAR FOR BROKERS NO. 1336-98 The Philippine Stock Exchange, Inc. Philippine Stock Exchange Centre Exchange Road, Ortigas Center Pasig City FAX No. 636-0809 Attention: Ms . Ma . Isabel T . Garcia Head, Listings Group RE : Acquisition of Assets Gentlemen : Please be informed that the Board of Trustees of Far Easter University at its meeting held today, June 16, 1998, upon review, approved and ratified the following resolutions: RESOLVED, to confirm the authority given to the Corporation for the acquisition of parcels of land situated within the Metrogate Silang Estates Project in Barangay Biluso, Silang, Cavite, at P550.00 per square meter, which are more clearly described and classified, as follows: Group 1 Lots: Those lots which are covered by individual titles under the name of Moldex Realty, Incorporated, and consisting of an aggregate area of ONE HUNDRED EIGHT THOUSAND SIX HUNDRED NINETY-FOUR (108,694) SQUARE METERS, more or less, and listed as follows: Lot No. Lot Area Title No. Description 13691 5,964 sq. m. 0-3108 Annex "B-1" 1-A, Psd-134845 24,459 sq. m. T-158399 Annex "B-2" 1-B, Psd-134845 10,000 sq. m. T-158395 Annex "B-3" 1-C, Psd-134845 14,459 sq. m. T-50052 Annex "B-4" 3124-B 37,759 sq. m. 0-3153 Annex "B-5" 3129 8,962 sq. m. T-484104 Annex "B-6" 3232 7,091 sq. m. T-484105 Annex "B-7" 108,694 sq. m. Group 2 Lots: Those lots which are not yet covered by individual titles and are still in varying stages of titling, consisting of an aggregate area of ONE HUNDRED THIRTY-FOUR THOUSAND EIGHT HUNDRED THIRTY-TWO (134,832) SQUARE METERS, more or less, and listed as follows: Lot No. Lot Area Case/Rec. No. Description 3130 Illegible ,883 sq. m. 731/64595 Annex "C-1" 3721 ,210 sq. m. 540/64306 Annex "C-2" 3134-B ,208 sq. m. 638/65019 Annex "C-3" 3126 ,860 sq. m. 527/64280 Annex "C-4" 13690 ,778 sq. m. 528/64289 Annex "C-5" 13783 ,823 sq. m. 616/64780 Annex "C-6" Illegible portion in PSE file RESOLVED FURTHER, To confirm the authority given to the Chairman and/or Vice Chairman of the Board, Mrs. Lourdes R. Montinola and/or Mr. Aurelio R. Montinola III, respectively, to sign, execute and deliver all agreements, contracts and documents necessary to legally effect the acquisition of the above listed properties. Very truly yours, FAR EASTERN UNIVERSITY By: (SGD.) ANGELINA P. JOSE Corporate Secretary June 16, 1998 The Philippine Stock Exchange, Inc. Philippine Stock Exchange Centre Exchange Road, Ortigas Center Pasig City FAX No. 636-0809 Attn.: Ms . Ma . Isabel T . Garcia Head Listings Group RE : Acquisition of Assets Gentlemen : Please be informed that the Board of Trustees of Far Easter University at its meeting held today, June 15, 1998, upon review, approved and ratified the following resolution: RESOLVED, That Dr. Edilberto C. de Jesus. Trustee and President, be, as he is hereby authorized and empowered to sign, execute and deliver the absolute Deed of Sale or any and all papers and documents to legally effect the transfer to the University of the Forty-Three Thousand Six Hundred Fifty-Nine (43,659) shares of stock of Amon Trading Corporation registered in the name of Juliana Management Company, Inc. with a par value of P100.00 per share, representing the total amount of Fifty-Three Million Pesos (P53,000,000.00). Very truly yours, FAR EASTERN UNIVERSITY By: (SGD.) ANGELINA P. JOSE Corporate Secretary