PDCP Development Bank, Inc. Additional Listing

March 25, 1999 PSE CIRCULAR FOR BROKERS NO. 597-99 SUBJECT : PDCP Development Bank, Inc. Additional Listing Please be informed that on November 12, 1997, the Exchange approved subject to actual exercise of the Conversion Right by the preferred shareholders, the application of PDCP DEVELOPMENT BANK , INC . ("the Company") to list additional 40,000,000 common shares, with a par value of P10.00 per share, to cover the underlying shares of the P1.0 billion worth of Convertible Preferred Shares at the conversion price of P25.00 per share. In connection therewith, please be advised that the Company has received additional notices from the preferred shareholders for the conversion of 281,208 preferred shares to 112,480 common shares. LLpr In view thereof, the listing of the 112,480 common shares is set for Friday , March 26, 1999 . This would bring to a total of 122,692 common shares already listed arising from the conversion 306,738 preferred shares. For your information and guidance. (SGD.) JOSE LUIS U. YULO, JR. President and CEO