Centro Escolar University

February 23, 2000 PSE CIRCULAR FOR BROKERS NO. 450-00 SUBJECT : Centro Escolar University Further to Circular for Brokers No. 330-2000 dated February 14, 2000, Centro Escolar University ("CEU") furnished the Exchange a copy of its SEC Form 34-C (Definitive Information Statement), in connection with its Special Stockholders' Meeting which will be held on March 17, 2000 , at 3:30 p.m. at the Board Room of the University, No. 11 Mendiola Street, San Miguel, Manila. The agenda for the meeting shall be as follows: cdll 1. Call to Order 2. Proof of Notice and Quorum 3. Chairman's Report 4. Report on the Rights Offering 5. Amendment of the Articles of Incorporation: a. Increase in Number of Directors b. Abolish Preferred and Class B Common Stock and change of par value of Class A Common Stock to enable stockholders to easily trade their shares 6. Appointment of Sycip Gorres Velayo & Co. as external auditor 7. Other Matters Only stockholders of record as of February 24, 2000 are entitled to notice of, and to vote at, said meeting and at any adjournment thereof. Those who cannot attend the meeting may designate a representative by submitting a written proxy to the office of the Corporate Secretary at No. 11 Mendiola St., San Miguel, Manila not later than March 6, 2000. A copy of CEU's Definitive Information Statement is available for reference at the PSE Centre and PSE-Plaza Libraries. prcd For your information. (SGD.) MARIA ISABEL T. GARCIA OIC, Listings & Disclosure Group