PSE Circular for Brokers No. 2120-99

August 26, 1999 PSE CIRCULAR FOR BROKERS NO. 2120-99 August 25, 1999 Philippine Stock Exchange Philippine Stock Exchange Centre Exchange Road, Ortigas Center Pasig City Attention: Disclosure Department Listings and Disclosure Group Gentlemen : We hereby give notice that in the special meeting of the Board of Directors of the University held this morning, August 25, 1999, Meeting No. D-4-00, a resolution was adopted declaring a cash dividend equivalent to 2.5% (P2.50 per share) in favor of the stockholders of record as of September 8, 1999 and payable on September 30, 1999. We quote hereunder the said resolution: "RESOLVED, That out of the accumulated retained earnings of the University prior to January 1, 1998 (1997 and prior years), a cash dividend equivalent to 2.5% (P2.50 per share) be, as it is hereby, declared in favor of the stockholders of record as of Sept. 8, 1999 and payable on Sept. 30, 1999." Please be guided accordingly. CASH DIVIDEND CASH P2.50 PER SHARE EX-CASH SEPTEMBER 2, 1999 RECORD DATE SEPTEMBER 8, 1999 DATE PAYABLE SEPTEMBER 30, 1999 Very truly yours, CENTRO ESCOLAR UNIVERSITY (SGD.) ROBERTO V. BARRETTO Asst . Corporate Secretary