PDCP Development Bank, Inc. Additional Listing

July 29, 1999 PSE CIRCULAR FOR BROKERS NO. 1891-99 SUBJECT : PDCP Development Bank, Inc. Additional Listing Please be informed that on November 12, 1997, the Exchange approved subject to actual conversion of Convertible Right by the preferred shareholders, the application of PDCP DEVELOPMENT BANK, INC . ("the Company") to list additional 40,000,000 common shares, with a par value of P10.00 per share, to cover the underlying shares of the P1.0 billion worth of Convertible Preferred Shares at the conversion price of P25.00 per share. In connection therewith, please be advised that the Company has received additional notices from the preferred shareholders for the conversion of 11,090 preferred shares to 4,436 common shares. In view thereof, the listing of the 4,436 common shares is set for Friday , July 30, 1999 . This brings the number of common shares listed arising from the conversion of 553,698 preferred shares to a total of 221,474 common shares. For your information and guidance. (SGD.) JOSE LUIS U. YULO, JR. President & CEO