Ayala Land, Inc.
PSE Circular for Brokers No. 1509-98 • Philippine Stock Exchange • Circulars for Brokers • Jul 3, 1998
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July 3, 1998 PSE CIRCULAR FOR BROKERS NO. 1509-98 SUBJECT : Ayala Land, Inc . Further to Company Notice No. 1881 dated September 18, 1997 pertaining to Ayala Land, Inc's ("ALI") Memorandum of Agreement with Corporate Investment. Philippines, Inc. (CIPI) for the development of a mid-rise residential condominium in Baguio City, ALI confirmed to the Exchange of its project dubbed as the Pine Summit which is expected to be launched by the fourth quarter of this year, subject to the results of market studies currently being conducted by the company. Based on current design drawings, this new vacation homes project consists of four seven-storey residential condominium buildings with an aggregate of 131 two and three bedroom and penthouse units. As of this date, development plans for the project have been made to include a nine-hole mini golf course, outdoor gazebo with picnic area, children's playground, basketball court, an indoor game room and walking trails. cdlex The said confirmation was done in view of the article published in the June 25, 1998 issue of the Manila Bulletin. For your information. (SGD.) REYNOLD P. ONG Vice-President, Listings and Disclosure Group
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