CADP Declares Cash Dividends

September 7, 1999 PSE CIRCULAR FOR BROKERS NO. 2229-99 CADP Declares Cash Dividends Central Asucarera Don Pedro has declared a P0.05 cash dividend per share to all shareholders of record as of September 11,1999. Payment date for the cash dividend, which was approved by its Board of Directors during its recent meeting, has been set on September 30,1999. "The cash dividend is in recognition of the satisfactory financial results of the Company for the period ending July 31, 1999 of its fiscal year 1998-1999 and in line with our objective of providing our shareholders stable returns on their investment," CADP Chairman Pedro Roxas said." Roxas explained that the Company was the beneficiary of strong operating performance on the back of record-high production of refined sugar and its superior operating performance efficiencies. "This was the result of our sustained thrust to expand and modernize our sugar manufacturing facilities and processes, as well as gains on our debt and financial position and the improvement in the general economy," he added.