Araneta Properties, Inc.

November 8, 1999 PSE CIRCULAR FOR BROKERS NO. 2836-99 SUBJECT : Araneta Properties, Inc . Further to Circular for Brokers No. 2801-99 dated November 3, 1999, Araneta Properties, Inc. ("ARA") furnished the Exchange a copy of its SEC Form 34-C (Preliminary Information Statement) in connection with its Annual Stockholders' Meeting which will be held on November 26, 1999 , at 8:00 a.m. at the Turf Room, Manila Polo Club, McKinley Road, Forbes Park, Makati City. The agenda for the meeting shall be as follows: cdlex 1. Call to Order 2. Proof of Notice of Meeting 3. Certification of Quorum 4. Approval of the Minutes of the Previous Stockholders' Meeting 5. Approval of the 1998 Annual Report 6. Ratification of Corporate Acts 7. Election of Directors 8. Other Matters prcd 9. Adjournment As previously announced, stockholders of record as of November 5, 1999 are entitled to notice of, and to vote at, said meeting. Stockholders who cannot personally attend the meeting and wish to send a representative may accomplish a proxy form and submit the same to the Secretary of the Corporation at least ten (10) days before the date set for the meeting. Copies of ARA's Preliminary Information Statement are available for reference at the PSE Centre and PSE-Plaza Libraries. For your information. (SGD.) MARIA ISABEL T. GARCIA OIC, Listing & Disclosure Group