Primetown Property Group, Inc.

December 7, 1999 PSE CIRCULAR FOR BROKERS NO. 3120-99 SUBJECT : Primetown Property Group, Inc . Primetown Property Group, Inc. ("PMT") furnished the Exchange a copy of its Amended SEC Form 11-A for the fiscal year ended December 31, 1998, with amendments to the following items: Item 2. Properties "In so far as land banking is concerned, PPGI's acquisition of real estate properties cover: 1. Malugay Property Malugay St., Makati City 4,975 sq. m: Mortgaged to Union Bank of the Phils., please refer to note 7 of the audited financial statements. 2. Fort Bonifacio Lots 1 and 2 totaling 8,331 sq. m. located along Cameron Drive cor. of Bonifacio Drive where the future 2-Tower Conservatorium project will rise. Part of syndicated loan, please refer to Note 9 of the audited financial statements. 3. Lot 3 with 3,010 sqm located at Bo. Fort Bonifacio, Taguig, Metro Manila. 4. It also owns a 6.44 hectare property in Alfonso, Cavite, Metro Tagaytay where the future Aspen Garden project will soon be a landmark. Please refer to Note 7 of the audited financial statements." 5. In the Visayas Region, it owns a 25 hectares property on the eastern side of the island of Boracay, an internationally renowned tourist spot and also a commercial property with an area of 2,475 sqm in Cebu. Mortgaged to United Coconut Planters Bank and BPI Family. Item 9. Directors and Executive Officers of the Registrant ". . . Mr. Eduardo P. Arguelles joined the company during 1997. He was formerly with Piltel and DMCI. He also worked as Project Manager in CROIXCON Construction Corp . in New Jersey from 1991-1996 ." Item 10. Executive Compensation "xxx xxx xxx Chief Executive Officer 1997 P11,945,765 And four most highly 1998 8,540,358 Compensated executive officers 1999 (estimate) 1,765,861 xxx xxx xxx" A copy of said PMT's Amended SEC Form 11-A is available for reference at the PSE Centre and PSE-Plaza Libraries. For your information. llcd (SGD.) MARIA ISABEL T. GARCIA OIC, Listings & Disclosures Group