PSE Circular for Brokers No. 1563-99

June 30, 1999 PSE CIRCULAR FOR BROKERS NO. 1563-99 June 29, 1999 Ms. Raquel R. Angeles Assistant, Disclosure Dept. 4th Floor, Philippine Stock Exchange Centre Exchange Road, Ortigas Center, Pasig City Dear Ms. Angeles : This is with reference to your facsimile today requesting us for a clarification on the June 29, 1999 issue of the Manila Times entitled "Uniwide to pay P6.9B debts via 'dacion en pago'. We would like to clarify to the Exchange that the petitioners before the Securities and Exchange Commission (SEC) for the suspension of payment are the following companies: Uniwide Holdings, Inc., Uniwide Sales Realty and Resources Corporation. Naic Resources & Development Corporation, Uniwide Sales Warehouse Club, Inc., Uniwide Sales, Inc., and First Paragon Corporation (the "Uniwide Group of Companies). The P6.9B debt mentioned in the news article comprises the consolidated loan obligation of the Uniwide Group of Companies as of May 31, 1999. Of the said consolidated amount, Uniwide Holdings, Inc. and its subsidiaries have loans amounting to only about P2.7 billion. UHI and its subsidiaries' loans were further reduced to only about P2.3 billion as of June 25, 1999. Among the Uniwide Group of Companies which filed a petition for suspension of payment with the SEC, only Uniwide Holdings, Inc. is listed with the Philippine Stock Exchange. LLpr Hope you will find the above in order. Very truly yours, (SGD.) JEAN I. JAVIER Investor Relations Officer