PSE Circular for Brokers No. 227-98

February 26, 1998 PSE CIRCULAR FOR BROKERS NO. 227-98 SECURITIES AND EXCHANGE COMMISSION SEC FORM 11-C CURRENT REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND RSA RULE 11(a)-1(b)(3) THEREUNDER 1. February 25, 1998 Date of Report (Date of earliest event reported) 2. SEC Identification Number: 38745 3. BIR Tax Identification No.: 002-837-461 4. CROWN EQUITIES, INC. (CEI) Exact name of registrant as specified in its charter 5. Metro Manila 6. (SEC Use Only) Province, country or other jurisdiction of Industry Classification Code incorporation 7. 20/F Pacific Star Building, Sen. Gil J . Puyat Avenue, Makati City, Metro Manila Address of principal office Postal Code 8. (632) 811-5526 to 27 Registrant's telephone number, including area code 9. Not Applicable Former name or former address, if changed since last report 10. Securities registered pursuant to Sections 4 and 8 of the RSA Number of Shares of Common Stock Outstanding Title of Each Class and Amount of Debt Outstanding Common Shares 1,699,999,995 11. Indicate the item numbers reported herein: Item 9 1. Postponement of Annual Stockholders' Meeting In its meeting on February 25, 1998, CEI's Executive Committee decided to hold the Company's annual stockholder's meeting on May 26, 1998, instead of April 28, 1998 (which is called for under its By-Laws) to afford the Company's external auditors sufficient time to complete the preparation of the Company's audited financial statements as of December 31, 1997. The postponement of the annual stockholders' meeting will enable the Company to comply with the requirements of RSA Rule 34(c)-1 (Information Statement Rule) requiring that the Company's audited financial statements shall form part of the Annual Report accompanying the Information Statement which shall be distributed to the stockholders at least 15 business days prior to the scheduled date of the annual stockholders' meeting. LLjur 2. Formation of Consortium CEI is forming a consortium with Hopewell Holdings Ltd. of Hong Kong. This consortium is currently negotiating with Philippine National Construction Company (PNCC) the terms and conditions of a joint venture to build, own and operate the rehabilitation and extension of the South Luzon Tollway. SIGNATURES Pursuant to the requirements of the Revised Securities Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CROWN EQUITIES, INC. Registrant By : (SGD.) SERGIO LL. NARANJILLA, JR. Executive Vice-President