PSE Circular for Brokers No. 877-99

April 26, 1999 PSE CIRCULAR FOR BROKERS NO. 877-99 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 charter 5. Philippines Province, Country or other jurisdiction of Incorporation or organization 6. [ ] Holding Industry Classification Code 7. No. 173 P. Gomez Street, San Juan, M.M. 1500 Address of Principal Office Postal Code 8. 727-0431 to 55 Registrant's telephone number, including area code 9. Not applicable Former name, former address and former fiscal year, if changed since last year 10. Securities registered pursuant to Section 4 and 8 of the RSA Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding Common Shares 5,985,123,852 shares 18,039,133 (In Thousands of Pesos) Consolidated Debt 11. Indicate the item numbers reported herein: Item 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 to increase the number of the members of the Board of Directors from five (5) to seven (7) and to amend the Corporation's Articles of Incorporation for the purpose. The proposed amendment will be submitted for stockholder's approval at the annual meeting scheduled on May 28, 1999. LLpr SIGNATURES Pursuant to the requirements of the Revised Securities Act, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. FILINVEST DEVELOPMENT CORPORATION Registrant (SGD.) DANTE T. RAMOS Corporate Secretary