Universal Rightfield Property Holdings, Inc.

August 7, 1998 PSE CIRCULAR FOR BROKERS NO. 1849-98 SUBJECT : Universal Rightfield Property Holdings, Inc . Further to Circular No. 1705-98 dated July 23, 1998, Universal Rightfield Property Holdings, Inc. ("UP") furnished the Exchange on August 6, 1998 a copy of SEC Form 34-C (Definitive Information Statement) in connection with its Annual Stockholders' Meeting which will be held on August 27, 1998 , at 8:30 a.m., at the Romblon Mindoro Room, Westin Philippine Plaza, CCP Complex, Roxas Boulevard, Pasay City. The agenda for the meeting shall be as follows: cdlex 1. Call to Order 2. Proof of Notice of Meeting 3. Certification of Quorum 4. Approval of the Minutes of the Meeting of Stockholders held on June 24, 1997 5. Chairman's Address 6. President's Report and Presentation of Financial Statements 7. Amendment of Article Seventh of the Articles of Incorporation Reclassifying 843,159,990 common to preferred shares 8. Election of Directors 9. Appointment of External Auditor 10. Other Matters 11. Adjournment As previously announced, stockholders of record as of June 1, 1998 are entitled to notice of, and to vote at, said meeting. A copy of UP's Definitive information Statement is available for reference at the PSE Library and PSE-Plaza Administration Office. For your information. (SGD.) REYNOLD P. ONG Vice-President, Listings and Disclosure Group