PSE Circular for Brokers No. 567-99

March 23, 1999 PSE CIRCULAR FOR BROKERS NO. 567-99 COURT ISSUES INJUNCTION IN FAVOR OF MONDRAGON ON ATTEMPTED TAKEOVER AT MIMOSA In an order dated March 22 and served on both Clark Development Corporation and Mondragon Leisure yesterday morning, the Hon. Philbert I. Iturralde, Judge of the Regional Trial Court Branch 58 in Angeles City, enjoined CDC "their agents and other persons acting for and in their behalf, or any persons claiming interest for the respondents (CDC) to cease and desist from taking possession and/or operating and managing any part of all property/ties of the petitioner (Mondragon), more specifically the Regency Casino and its facility/ies and to turn over the same to the said petitioner in the same condition at the time the respondent (CDC) allegedly wrecked and took possession thereof from (Mondragon)," "To prevent any untoward incident between the parties in issue, only the employees and personnel, guests and clients of (Mondragon) are allowed within the perimeter of the property of (Mondragon) and any person/s or entities other than those mentioned are to be barred from the entering premises until further orders from this court." llcd Asked to comment on the above, Mondragon stated: "We wish to resolve these issues in the best and most peaceful manner possible and to obtain a win win solution whereby both the government and Mondragon can move forward together. It has been President Estrada's wish, conveyed to the Chairman of Mondragon on two occasions, to settle this matter by payment of obligations actually owed, and Mondragon's largest creditor bank has indicated willingness to do so, so there should be no further obstacles towards settling this matter."