PSE Circular for Brokers No. 229-99

February 8, 1999 PSE CIRCULAR FOR BROKERS NO. 229-99 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 5, 1999 Date of Report 2. SEC Identification Number ASO94-006430 3. BIR Tax identification Number 003-942-108 4. EMPIRE EAST LAND HOLDINGS, INC. Exact name of registrant as specified in its charter 5. Metro Manila Province, country or other jurisdiction of incorporation or organization 6. (SEC Use Only) Industry Classification Code 7. 21st Floor, The World Centre 330 Sen. Gil J. Puyat Avenue Makati City, Philippines 1227 Address of principal office 8. (632) 867-8351 to 59 Registrant's telephone number, including area code 9. Securities registered pursuant to Sections 4 and 8 of the Revised Securities Act Title of Class No. of Common Shares Outstanding Common 4,676,530,649 Preferred 250,000,000 10. Item 6. Changes in Securities The Corporation signed, today, a subscription agreement with its parent company, Megaworld Properties & Holdings, Inc., evidencing the subscription by Megaworld, under a private placement arrangement, to One Billion common shares of the Corporation. The subscription price for said private placement shares shall be at par value or One Peso (P1.00) per share. The private placement shares shall be locked-up for two-and-a-half (2 1/2) years from the date of their issuance. SIGNATURE 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. EMPIRE EAST LAND HOLDINGS, INC. By: (SGD.) ENRIQUE SANTOS L. SY Corporate Secretary