PDCP Development Bank, Inc. Additional Listing

June 25, 1999 PSE CIRCULAR FOR BROKERS NO. 1514-99 SUBJECT : PDCP Development Bank, Inc. Additional Listing The Exchange on November 12, 1997, approved subject to actual exercise of the Conversion Right by the preferred shareholders, the application of PDCP DEVELOPMENT BANK, INC . ("the Company") to list additional 40,000,000 common shares, with a par value of P10.00 per share, to cover the underlying shares of the P1.0 billion worth of Convertible Preferred Shares at the conversion price of P25.00 per share. cdll In connection therewith, please be advised that the Company has received additional notices from the preferred shareholders from the conversion of 10,450 preferred shares to 4,180 common shares. In view thereof, the listing of the 4,180 common shares is set for Monday, June 28, 1999 . This brings the number of common shares listed arising from the conversion of P542,608 preferred shares to a total of 217,088 common shares. For your information and guidance. (SGD.) JOSE LUIS U. YULO, JR. President and CEO