PSE Circular for Brokers No. 863-99

April 23, 1999 PSE CIRCULAR FOR BROKERS NO. 863-99 April 22, 1999 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 (Date of earliest event reported) 22 April 1999 2. SEC Identification No.: 51048 3. BIR Tax Identification No. 4. FILINVEST DEVELOPMENT CORP. Exact name of registrant as specified in its character 5. Philippines Province, country or other jurisdiction of incorporation or organization 6. Realty Industry Classification Code: 7. No. 173 P. Gomez Street, San Juan M.M. Addressed of principal office 8. (632)727-0431 to 55 Registrant's telephone number including area code 9. Not Applicable Former name or former address, if changed since last report 10. Securities registered upon 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 No. 9 (Other Events) Item 9. Other events In a meeting of the Board of Directors held on April 22, 1999 at the FDC Building No. 173 P. Gomez Street, San Juan, Metro Manila, the Board approved the sale of all its shareholding in East Asia Utilities Corporation to East Asia Power Resources Corporation, subject to the fulfillment of certain closing conditions. SIGNATURES Pursuant to the requirements of the Revised Securities Act, the Registrant has duly caused the report to be signed on its behalf by the undersigned hereunto duly authorized. FILINVEST DEVELOPMENT CORPORATION Registrant (SGD.) DANTE T. RAMOS Corporate Secretary