PSE Circular for Brokers No. 2709-99

October 22, 1999 PSE CIRCULAR FOR BROKERS NO. 2709-99 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. October 20, 1999 Date of Report 2. SEC Identification No. 51048 3. BIR Tax Identification No. 000-053-167-00 4. FILINVEST DEVELOPMENT CORPORATION Exact name of registrant as specified in its charter 5. Philippines Province, Country or other jurisdiction of incorporation or organization 6. (SEC use only) Industry Classification Code 7. 173 P. Gomez Street, San Juan, Metro Manila Address of principle office 8. (2) 727-0431 to 55 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 Revised Securities Act Title of Each Class Number of Shares of Stock Outstanding 11. Indicate the item numbers reported herein: Item 2 In reply to SEC-MMOD's letter dated October 4, 1999 relative to news item published in the Business World on September 24, 1999 titled "Filinvest to sell 17% East Asia stakes to US partner", information is hereby given that (i) aside from previously being both shareholders in East Asia Power Resources Corporation ("EAPRC"), there is no other material relationship between El Paso Energy International or its local subsidiary, El Paso Philippines Holding Co., Inc. ("EAPHC") and Filinvest Development Corporation ("FDC") or any of FDC's affiliates, directors or officers, or any associate of any such directors or officers; (ii) the amount received by FDC upon disposition of its EAPRC shares to EAPHC does not exceed 10% of the total assets of FDC and its consolidated subsidiaries; and (iii) aforesaid disposition of EAPRC shares (previously subject of SEC Form 11-C filed by FDC on September 23, 1999) was closed on September 28, 1999. 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. prcd FILINVEST DEVELOPMENT CORPORATION Registrant (SGD.) DANTE T. RAMOS Corporate Secretary