DMCI Holdings, Inc.

May 7, 1998 PSE CIRCULAR FOR BROKERS NO. 972-98 SUBJECT : DMCI Holdings, Inc . Further to Circular No. 773-98 dated April 23, 1998, DMCI Holdings, Inc. ("DMC") furnished the Exchange on May 5, 1998 a copy of SEC Form 34-A (Definitive Proxy Statement) in connection with its Annual Stockholders' Meeting which will be held on May 27, 1998 , at 9:00 a.m., at the Makati Room, G/F Shangri-La Hotel Manila, Makati City. The agenda for the meeting shall be as follows: 1. Call to Order 2. Report on Attendance and Quorum 3. Approval of Minutes of Previous Stockholders' Meeting 4. Management Report for 1997 5. Ratification of All Acts of the Board of Directors and Officers during the previous year 6. Appointment of Independent Auditor 7. Election of Directors 8. Other matters 9. Adjournment As previously announced, stockholders of record as of April 14, 1998 are entitled to notice of, and to vote at, said meeting. A copy of DMC's SEC Form 34-A is available for reference at the PSE Library and PSE-Plaza Administration Office. For your information. (SGD.) REYNOLD P. ONG Vice-President, Listings and Disclosure Group