PSE Circular for Brokers No. 3206-99

December 16, 1999 PSE CIRCULAR FOR BROKERS NO. 3206-99 SECURITIES AND EXCHANGE COMMISSION 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 14, 1999 Date of Report (Date of earliest event reported) 2. SEC Identification Number 152661 3. BIR Tax Identification No. 000-444-840 4. CITY & LAND DEVELOPERS, INC. Exact name of registrant as specified in its charter 5. MAKATI CITY, PHILIPPINES Province, country or other jurisdiction of incorporation 6. (SEC Use Only) Industry Classification Code: 7. 3/F Cityland Condo. 10 Tower I, 6815 H.V. dela Costa Street Ayala Ave. North Makati City 1226 Address of principal office Postal Code 8. (632) 893-60-60 Registrant's telephone number, including area code 9. _____________________________________________ Former name or former address, if changed since last report 10. Securities registered pursuant to Sections 4 and 8 of the RSA Title of Each Class Number of Shares Issued Unclassified Common Shares 175,000,000 11. Indicate the item numbers reported herein: Item 9 Other Events Press Release in various newspapers: City & Land Developers, Inc.'s result of its initial public offering (IPO) and listing date. This press release will start on December 15 to December 21, 1999. cdll Certified true and correct: (SGD.) RUFINA C. BUENSUCESO Senior Vice President City and Land Developers, Incorporated listed its 175,000,000 issued and outstanding shares with the Philippine Stock Exchange on December 13, 1999 under the trading symbol LAND. Listing came after the successful initial public offering of 45,500,000 shares at 3.95 per share which ended November 29, 1999. The offering was oversubsribed. Total applications to subscribe reached 47,228,000 shares. LibLex LAND is a member of the Cityland Group, a trusted, name in the real estate industry. The group has been in the property development business for more than 20 years. By opening LAND to the public through the First Board, the Company is providing all opportunity for the investors to share in the benefits of being a stockholder. This is shown by the track record of Cityland Development Corporation (CDC), another listed company and majority stockholder of LAND. CDC has provided a net return of Php1,425 per share through cash and stock dividends of every Php10.00 original investment in 1981 or a return of 142 times their investment. This particular feat demonstrates the group's overiding philosophy of promoting shareholder value of investors who have chosen to partner with the Cityland Group.