Manila Jockey Club, Inc.

January 29, 1999 PSE CIRCULAR FOR BROKERS NO. 163-99 SUBJECT : Manila Jockey Club, Inc . Manila Jockey Club, Inc. ("MJC") furnished the Exchange a copy of its SEC Form 34-C (Preliminary Information Statement) in connection with its Special Stockholders' Meeting which will be held on February 26, 1999 , at 9:00 a.m., at the Turf Room of Manila Jockey Club, Inc., Manila. The Special Meeting was called for the approval of the Resolution of the Board of Directors approving the amendment of the Articles of Incorporation to include as one of the secondary purposes, the business "to develop real estate properties into mix-use real estate development projects including but not limited to leisure, recreational and memorial parks; operate, manage and/or sell the real estate development projects." dctai Stockholders of record as of January 29, 1999 are entitled to notice of, and to vote at, said meeting. A copy of MJC's Preliminary Information Statement is available for reference at the PSE Library and PSE-Plaza Administration Office. For your information. (SGD.) JOSE LUIS U. YULO, JR. President and CEO