PSE Circular for Brokers No. 209-00

January 28, 2000 PSE CIRCULAR FOR BROKERS NO. 209-00 January 28, 2000 Securities and Exchange Commission EDSA, Mandaluyong City Metro Manila Attention : Atty . Linda Daoang Director, Money Market Operations Department Philippine Stock Exchange 4/F Philippine Stock Exchange Center Exchange Road, Ortigas Center Pasig City, Metro Manila Attention : Ms . Grace de Guia Head-Disclosure Department Listing and Disclosures Group Dear Sirs, Grand Plaza Hotel Corporation SEC REg. No. 166878 We write on behalf of Grand Plaza Hotel Corporation ("GPHC"). In compliance with the disclosure requirements of the Securities and Exchange Commission and the Philippine Stock Exchange, please be informed that at the special meeting of the Board of Directors of GPHC held today, the following matters were approved: 1. Election of Mr. Richard Teo Peck Kim as General Manager of the Heritage Hotel Manila for a period of two years effective 1 February 2000. 2. Holding of the Annual Stockholders Meeting on 28 April 2000 instead of 15 May 2000. LibLex Very truly yours, (SGD.) NATIVIDAD B. KWAN