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SM Development Corporation

PSE Circular for Brokers No. 329-98 • Philippine Stock Exchange • Circulars for Brokers • Mar 10, 1998

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March 10, 1998 PSE CIRCULAR FOR BROKERS NO. 329-98 March 9, 1998 Philippine Stock Exchange Tektite Tower, Ortigas Avenue Ortigas Center, Pasig City Attention : Disclosure Dept. - Listings Group RE : SM Development Corporation Dear Sirs: This is to advise that the annual meeting for the year 1998 of the stockholders of SM Development Corporation will be held on April 20, 1998 at 4:00 p.m. at the Ballroom, Mandarin Hotel, Makati City . dctai This is to further advise that the closing/record date for purposes of determining the stockholders entitled to notice of and to vote at the annual stockholders' meeting and any adjournment thereof, is set at March 20, 1998 . Very truly yours, (SGD.) EMMANUEL C. PARAS Corporate Secretary SM DEVELOPMENT CORPORATION

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