PSE Circular for Brokers No. 286-99

February 16, 1999 PSE CIRCULAR FOR BROKERS NO. 286-99 February 16, 1999 Philippine Stock Exchange Philippine Stock Exchange Centre Exchange Road, Ortigas Center Pasig City Attention: Disclosure Department Listings and Disclosure Group Gentlemen : We hereby give notice that in the special meeting of the Board of Directors of the University held this morning, February 16, 1999, Meeting No. D-22-99, a resolution was adopted declaring a cash dividend equivalent to 20% (P2.00 per share) in favor of the stockholders of record as of March 3, 1999 and payable on March 30, 1999. We quote hereunder the said resolution. "RESOLVED, That out of the accumulated retained earnings of the University prior to January 1, 1998 (1997 and prior years), a cash dividend equivalent to 2% (2.00 per share) in the total amount of P7,448,288.00 be, as it is hereby, declared in favor of the stockholders of record as of March 3, 1999 and payable on March 30, 1999." Please be guided accordingly. llcd Cash Dividend Cash P2.00/share E/C Feb. 25, 1999 R/D March 3, 1999 D/P March 30, 1999 Very truly yours, CENTRO ESCOLAR UNIVERSITY (SGD.) VICENTE I. CARLOS Corporate Secretary