PSE Circular for Brokers No. 2282-98

October 1, 1998 PSE CIRCULAR FOR BROKERS NO. 2282-98 SECURITIES AND EXCHANGE COMMISSION SEC Form 11-C Current Report Pursuant to Section 11 of the Revised Securities Act and RSA Rule 11(a)-1(b)(3) Thereunder 1. 29 September 1998 2. Commission Identification Number (SEC Registration No.) 7199 3. BIR TIN 002-856-627 4. Acesite (Phils.) Hotel Corporation 5. Philippines 6. Industry Classification Code: _______________ 7. Room 527, Holiday Inn Manila, United Nations Avenue, Ermita, Manila 1000 8. Telephone Number (632) 526-1212 9. Former Name: Delbros Hotel Corporation Ermita, Manila Former Address: Delbros Suites, 22nd Floor, Manila Hilton, UN Ave., Former FY: January December 10. Common Stock (P1.00 par value) Authorized 300,000,000 shares Issued 79,881,847 shares 11. Items to be reported: During the annual stockholders meeting of the corporation held on 19 August 1998, the stockholders elected Mr. Yiu Kin Wai as a director of the corporation to fill the vacancy created due to the resignation of Ms. Jeanie Chan. Mr. Yiu shall serve as director for a year's term. Mr. Yiu, 44, is the Chairman and CEO of Hanwah Group and the Vice-Chairman of China Everbright Technology Ltd.. He is concurrently the Vice-Chairman of three joint venture companies established in the Zhuhai and the Shenzhen Special Economic Zones in the PROC and was one of the first Hong Kong based manufacturers to enter the PROC market in the early 1980s. Mr. Yiu brings to the Corporation extensive experience in investment, trading and industrial management and is expected to contribute to the overall guidance of the corporation's business thrusts. LLjur Acesite (Phils.) Hotel Corporation By: (SGD.) RICKY L. RICARDO Manager, Corporate Affairs (29 September 1998)