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Ayala Land, Inc. Additional Listing

PSE Circular for Brokers No. 454-99 • Philippine Stock Exchange • Circulars for Brokers • Mar 10, 1999

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March 10, 1999 PSE CIRCULAR FOR BROKERS NO. 454-99 SUBJECT : Ayala Land, Inc. Additional Listing The Exchange approved on February 24, 1999, the application of AYALA LAND, INC . to list additional 205,941,727 common shares , with a par value of P1 . 00 per share , to cover the private placement of Ayala Corporation at a subscription price of P14 . 567 per share . In view thereof, the listing of 205,941,727 common shares is set for Thursday, March 18,1999 . For your information and guidance. (SGD.) JOSE LUIS U. YULO, JR. President and CEO

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