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Mondragon International Philippines, Inc.

PSE Circular for Brokers No. 1738-99 • Philippine Stock Exchange • Circulars for Brokers • Jul 14, 1999

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July 14, 1999 PSE CIRCULAR FOR BROKERS NO. 1738-99 SUBJECT : Mondragon International Philippines, Inc . In reply to the Exchange's query regarding a news article published in the July 13, 1999 issue of the Manila Times which reported that Waterfront Philippines, Inc. ("WPI"), in partnership with Metroplex Berhad of Malaysia, plans to forge a partnership with Mondragon International Philippines, Inc. ("MON") for the Mimosa Regency Casino, MON, in a letter to the Exchange, clarified that: " . . .We wish to clarify that neither one of these two parties has been in any discussion with us for months, either directly or through third parties. They are definitely not those that we referred to in our disclosure statement dated yesterday. Our other negotiations referred to above are too far along for us to entertain a new set of parties at this time." For your information. (SGD.) JOSE LUIS U. YULO, JR. President and CEO

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