PSE Circular for Brokers No. 1524-98

July 6, 1998 PSE CIRCULAR FOR BROKERS NO. 1524-98 SEC FORM 11-C CURRENT REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND RSA RULE 11(a)-1(b)(3)THEREUNDER 1. Date of Report (Date of earliest event reported): June 2, 1998 2. SEC Identification Number: 31168 3. BIR Tax Identification No.: 043-002-724-446-V 4. Name of Registrant: A BROWN COMPANY, INC. 5. Place of Incorporation: Metro Manila, Philippines 6. Industry Classification code: 7. Address of Principal Office: Gloria Street, Marick Subdivision, Cainta Rizal Postal Code: 8. Telephone Nos. 632-9473, 635-4158, 635-4156 9. Former address: Antonia Centre, No. 94 Kamuning Road, Quezon City 10. Securities registered pursuant to Sections 4 and 8 of the RSA 11. Items Numbers Reported: Item No. 9(a)(1)(c) Please see attached sheet Item 9 (a)(1)(c) : Other Events A Brown Company, Inc. (ABCI) signed a Memorandum of Understanding with Antipolo Properties, Inc. (API) to develop the ABCI property in Binangonan. We expect to have the preliminary subdivision plan in July 1998, after which we expect to sign the Joint Venture Agreement sometime in the 3rd quarter of 1998. API is the developer of Village East and the Eastridge Golf & Country Club, a prime real estate project adjacent to ABCI's property. In the joint venture agreement, API will develop the 14.9 property in Binangonan where ABCI will get a 40% share of the said developed property either in the form of sales proceeds and/or in the number of saleable subdivision lots. From this project, ABCI expects to generate no less than P106.8 million based on the agreed minimum selling price of P3,000 per square meter for the saleable land size of 8.9 hectares (60% of the total area of 14.9 hectares), with a potential gain of around P75 million. This move underscores the positive points of our landbanking activities over the past years. SIGNATURES Pursuant to the requirements of the Revised Securities Act, the registrant has duly caused this report to be signed on its behalf by the undersigned here unto duly authorized. A Brown Company, Inc. Registrant By: (SGD.) JORGE M. YULO President (SGD.) MARIAN C. PINEDA VP Treasury Corporate Planning