PSE Circular for Brokers No. 2121-99

August 26, 1999 PSE CIRCULAR FOR BROKERS NO. 2121-99 August 25, 1999 PHILIPPINE STOCK EXCHANGE Philippine Stock Exchange Centre, Exchange Road Ortigas Center, Pasig City, Metro Manila Attention: Disclosure Department Listings and Disclosures Group Gentlemen : Please be informed that the Board of Directors of Central Azucarera Don Pedro, in its regular Board of Directors' meeting held today, 25 August 1999, approved a resolution declaring a P0.05 cash dividend per share payable to all shareholders of the Company as of 11 September 1999 . Payment date is 30 September 1999. The cash dividends will be taken from the 1997 Retained Earnings of the Company. The Board of Directors likewise approved resolutions changing the fiscal year of the Company from September-August to July-June of every year and changing the date of the annual-meeting of its shareholders from 4th Wednesday of January of every year to 4th Wednesday of October of every year. CASH DIVIDEND CASH P0.05 PER SHARE EX-CASH SEPTEMBER 7, 1999 RECORD DATE SEPTEMBER 11, 1999 DATE PAYABLE SEPTEMBER 30, 1999 Very truly yours, (SGD.) FLORENCIO M. MAMAUAG, JR. Assistant Corporate Secretary