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PSE Circular for Brokers No. 2175-99

PSE Circular for Brokers No. 2175-99 • Philippine Stock Exchange • Circulars for Brokers • Aug 31, 1999

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August 31, 1999 PSE CIRCULAR FOR BROKERS NO. 2175-99 PHILIPPINE STOCK EXCHANGE, INC . 4th Floor, Philippine Stock Exchange Centre Exchange Road, Ortigas Center, Pasig City Attention: Ms . Grace B . de Guia Asst . Manager, Disclosure Dept . Dear Ms. de Guia: In connection with your inquiry regarding the news article which appeared in the Business World entitled "Fil-Estate P2.2B convertible bond offer", we wish to confirm that as a holding company, Fil-Estate Corporation continuously deals with prospective joint venture partners and/or investors in connection with the projects directly or indirectly initiated by Fil-Estate Group of Companies. We further confirm that we have not reach any commercial or contractual arrangement with any parties which we considered to be significant to warrant disclosure to Philippine Stock Exchange at this time. We reiterate that any and all discussions with such prospective investors and/or joint venture partners are still preliminary. We trust that you will find this letter in order. Thank you very much. Very truly yours, (SGD.) ATTY. FERDINAND T. SANTOS President

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