Asiatrust Development Bank, Inc.

August 5, 1999 PSE CIRCULAR FOR BROKERS NO. 1948-99 SUBJECT : Asiatrust Development Bank, Inc . With reference to Circular No. 1900-99 dated July 30, 1999 relative to Asiatrust Development Bank, Inc.'s ("ASIA") Annual Stockholders' Meeting, ASIA submitted to the Exchange the following corrections to the typographical errors of its previous disclosure: 1. Venue: Skytop, Hotel Intercontinental Manila, Ayala Avenue, Makati City 2. The Board of Directors has also set the closing of the books of the Corporation on 21 September 1999 for purposes of setting the record date and determining the stockholders entitled to notice and to vote at the Annual Stockholders' Meeting. Furthermore, the Board of Directors, in its regular meeting held on July 29, 1999, nominated SSS Commissioner Aurora R. Arnaez as a member of the Board representing the Social Security System to fill up the remaining seat in the Board and to serve as Director for the remaining term. prLL For your information. (SGD.) JOSE LUIS U. YULO, JR. President and CEO