PSE Circular for Brokers No. 1452-98

June 29, 1998 PSE CIRCULAR FOR BROKERS NO. 1452-98 SECURITIES AND EXCHANGE COMMISSION SEC Form 11-C Current Report Pursuant to Section 11 of the Revised Securities Act and RSA Rule 11(a)-1(b)(3) Thereunder 1. 25 June 1998 2. Commission Identification Number (SEC Registration No.) 7199 3. BIR TIN 002-856-627 4. Acesite (Phils.) Hotel Corporation 5. Philippines 6. Industry Classification Code: ___________ 7. Room 527, Holiday Inn Manila, United Nations Avenue, Ermita, Manila 1000 8. Telephone Number (632) 52-1212 9. Former Name: Delbros Hotel Corporation Ermita, Manila Former Address: Delbros Suites, 22nd Floor, Manila Hilton, UN Ave., Former FY January December 10. Common Stock (P1.00 par value) Authorized 300,000,000 shares Issued 79,881,847 shares 11. Items to be reported: On 22 June 1998, the SEC approved the formation of Pavilion Leisure and Entertainment Corporation (PLEC for brevity, SEC Reg. No. A1998-7904), a 50% owned subsidiary of Acesite (Phils.) Hotel Corporation. Of the authorized capital stock of P5,000,000.00 (5,000,000 shares with a par value of P1.00 each) of PLEC, P2,187,500.00 has been subscribed and P1,250,000.00 has been paid, up. PLEC's primary purpose is "to engage in the business of managing and operating hotels and other accommodations, restaurants, cafes, bars, theaters, amusement parks, leisure and entertainment enterprises for the general public. . ." Acesite (Phils.) Hotel Corporation By: (SGD.) RICKY L. RICARDO Project Manager (25 June 1998)