Centro Escolar University

September 28, 1999 PSE CIRCULAR FOR BROKERS NO. 2431-99 SUBJECT : Centro Escolar University With reference to Circular No. 2380-99 dated September 22, 1999 relative to the resignation/appointment of Directors/Officers of Centro Escolar University ("CEU"), CEU informed the Exchange of the typographical error in its previous disclosure under item no. 4 which stated that: "4. The election and appointment of the new Directors and officers will take effect on 23 September 1999, and they are to serve for the remainder of the term of the Directors and officers. they replaced, or until the next annual meeting of the Board of Directors to be held on 28 July 2000. " should instead read as: "4. The election and appointment of the new Directors and officers will take, effect on 23 September 1999, and they are to serve for the remainder of the term of the Directors and officers they replaced, or until the next annual meeting of the stockholders to be held on 26 July 2000. " For your information. (SGD.) JOSE LUIS U YULO, JR. President and CEO