PSE Circular for Brokers No. 427-00

February 22, 2000 PSE CIRCULAR FOR BROKERS NO. 427-00 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. Date of Report February 21, 2000 2. SEC Identification No. 51048 3. BIR Tax Identification No. 000-053-167 4 Exact name of registrant as specified in its charter FILINVEST DEVELOPMENT, CORP. 5. Philippines 6. Holding Province, Country or other jurisdiction of Industry Classification Code Incorporation or organization 7. No. 173 P. Gomez Street, San Juan. M.M. 1500 Address of Principal Office Postal Code 8. 727-0431 to 55 Registrant's telephone number, including area code 9. Not applicable Former name, former address and former fiscal year, if changed since last year 10. Securities registered pursuant to Sections 4 and 8 of the RSA Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding 11. Indicate the Item numbers reported herein: Item 9 Item 9 Other Events FDC's subsidiaries, FDC Capital (Cayman Is.) Ltd. and FLI Capital (Cayman Is.) Ltd., issuers of the dollar denominated convertible bonds, have repurchased some of their bonds with combined total face value of $95.288 million. This reduces FDC's consolidated foreign currency denominated liabilities as of February 15, 2000 to $156 Million consisting of the remaining convertible bonds maturing in February 2002 and May 2006 (with put option in November 2001). On the other hand, its foreign currency denominated assets (consisting of dollar deposits and bonds) as of the same date amount to $91 million. SIGNATURES Pursuant to the requirements of the Revised Securities Act, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. FILINVEST DEVELOPMENT CORPORATION Registrant (SGD.) DANTE T. RAMOS Corporate Secretary