PSE Circular for Brokers No. 2829-98

December 29, 1998 PSE CIRCULAR FOR BROKERS NO. 2829-98 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. December 24, 1998 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 Each Class No. of Shares Outstanding Common 4,676,530,649 Preferred 250,000,000 10. Item 9 (b). Other Events The Board of Directors of Empire East Land Holdings, Inc. (the "Corporation") approved an amendment to the By-Laws of the Corporation moving the date of the annual stockholders' meeting from the third Friday of April to the second Tuesday of June of each year. The amendment will be submitted to the stockholders of the Corporation for their approval during the annual stockholders' meeting for 1999 which shall be held on the second Tuesday of June next year. The amendment to the By-Laws and the postponement of the 1999 annual stockholders' meeting to the second Tuesday of June are designed to give the Corporation ample time to comply with the requirements of the Full Disclosure Rules of the Securities and Exchange Commission. The Board of Directors likewise authorized the Vice Chairman of the Corporation, Mr. Gerardo C. Garcia, to negotiate with Megaworld Properties & Holdings, Inc., the terms and conditions of Megaworld's offer to subscribe to One Billion common shares of the Corporation, by way of a private placement, and to execute, on behalf of the Corporation, the Subscription Agreement for said private placement. 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