PSE Circular for Brokers No. 2184-98

September 18, 1998 PSE CIRCULAR FOR BROKERS NO. 2184-98 September 18, 1998 DISCLOSURES DEPARTMENT PHILIPPINE STOCK EXCHANGE Phil. Stock Exchange Centre Exchange Road, Ortigas Complex Pasig City Attention: Ms . Luisa Buenaventura Supervisor Gentlemen : This refers to another article which came out in today's issue of the Philippine Daily Inquirer entitled Uniwide seeking new partner, opens talks with four retailers . We would like to inform the Exchange that contrary to the report of Mr. Raul Dancel, we did not send any statement to reporters saying that Uniwide Holdings, Inc. "has begun negotiating with three major groups in Asia and a leading local retailer." LLphil We released our official (and only) statement to the Exchange yesterday from which Mr. Dancel quoted that UHI "have been and are still in the process of discussing with various prospective investors about possible strategic alliance or partnerships." You will note that in this same statement you received yesterday, we did not mention or indicate any party precisely because talks are still on-going. We hope this clarifies the matter. Please do not hesitate to call us should you have further questions. Very truly yours, (SGD.) SUSAN O. LIGERALDE Investor Relations Manager