PDCP Development Bank, Inc. Additional Listing

August 19, 1999 PSE CIRCULAR FOR BROKERS NO. 2068-99 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 1,250 preferred shares to 500 common shares. In view thereof, the listing of the 500 common shares is set for Friday, August 20, 1999 . This brings the number of common shares listed arising from the conversion of 563,708 preferred shares to a total of 225,478 common shares. For your information and guidance. (SGD.) JOSE LUIS U. YULO, JR. President and CEO