Update of Signatories for the Proof of Authority to Sign Notice and Undertaking

October 28, 1999 PSE CIRCULAR FOR BROKERS NO. 2774-99 SUBJECT : Update of Signatories for the Proof of Authority to Sign Notice and Undertaking On February 26, 1999, member-broker firms were requested to submit copies of the Proof of Authority to Sign Notice and Undertaking certifying who are authorized to sign in the Notice and Undertaking for the reservation of IPO shares. The Listings Department is currently updating its records in connection with the forthcoming Initial Public Offering of City & Land Developers, Inc . In view of the foregoing, member-broker firms which have modified or revoked authorities of previous signatories are requested to submit three (3) original duly notarized copies of the aforesaid document. If, however, the authorized signatories have not changed, kindly inform the Exchange of the same in writing. To facilitate the accomplishment of the same and for your convenience, we have attached three (3) copies of the aforesaid certificate. Please fill-in the same and affix the specimen signatures thereon. Please submit the accomplished 3 original copies of the Proof of Authority to Sign Notice and Undertaking or the letter on or before 4:00 pm of November 8, 1999 to Mr. Benny Viray (PSE-Ayala) or Claudine Cruz (PSE-Tektite). For your information and guidance. (SGD.) MARIA ISABEL T. GARCIA OIC, Listing and Disclosure Group