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Ayala Corporation Convertible Preferred Shares

PSE Circular for Brokers No. 931-99 • Philippine Stock Exchange • Circulars for Brokers • Apr 30, 1999

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April 30, 1999 PSE CIRCULAR FOR BROKERS NO. 931-99 April 28, 1999 PHILIPPINE STOCK EXCHANGE 4/F Philippine Stock Exchange Center Exchange Road, Ortigas Center Pasig City Attention: Ms . Grace De Guia Assistant Manager, Disclosure Department SUBJECT : Ayala Corporation Convertible Preferred Shares Gentlemen/Ladies : As Issue Manager of the Ayala Corporation Convertible preferred Shares ("ACP"), we would like to inform you that the Conversion Price for ACP will be adjusted from P18.00 to P15.00 per common share effective May 10, 1999, the ex-date of the 20% stock dividend on the Ayala Corporation common shares. LLjur Thank you. (SGD.) GINAFLOR C. ORIS Senior Manager

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