PSE Circular for Brokers No. 1957-99

August 6, 1999 PSE CIRCULAR FOR BROKERS NO. 1957-99 August 4, 1999 PHILIPPINE STOCK EXCHANGE, INC . Disclosure Department LISTING AND DISCLOSURE GROUP 4/F P.S.E. Center, Exchange Road Ortigas Center, Pasig City Attention: Mr . Reynold P . Ong Vice-President Gentlemen : Anent our letter dated August 2, 1998, please be advised that the Special Meeting of Stockholders of Urbancorp Realty Developers, Inc. (URDI) will be held at 36th Floor of the UrbanBank Plaza, Urban Avenue, Makati City, Metro Manila on Monday, August 30, 1999 at 9:00 AM for the transaction of the following business: A. Approval of Declaration of Fifty Percent (50%) Stock Dividends ( the record date of which shall be set by the Securities and Exchange Commission ); and B. Approval of the Increase in Authorized Capital stock of the Corporation from PESOS: ONE BILLION to PESOS: TWO BILLION. All stockholders of record as of August 30, 1999 are entitled to attend and vote at the said meeting in person or by proxy. The stock and transfer book shall be closed from August 16 to August 30, 1999. cdll We trust that you still find the following in order. Thank you. Very truly yours, (SGD.) CORAZON M. BEJASA Corporate Secretary