March 21, 2000
PSE CIRCULAR FOR BROKERS NO. 718-00
March 20, 2000
MS. GRACE B. DE GUIA
Asst. Manager, Disclosure Department
The Philippine Stock Exchange
4/F PSE Centre, Exchange Road
Ortigas Center, Pasig City
RE : Clarification of Philippine Daily Inquirer article
Dear Ms. De Guia :
Reference is your letter of even date requesting clarification/confirmation of a news article which was published in today's issue of the Philippine Daily Inquirer entitled, "Megaworld owner, Puyat family plan property ventures."
We confirm that there are ongoing discussions between Mr. Andrew L. Tan and the Puyat family of Manila Bank on the joint development of the latter's vast real estate holdings in anticipation of the recovery of the real estate industry.
Appropriate disclosure with the SEC and PSE shall be made once a final agreement is reached between the parties.
Thank you.
Very truly yours,
(SGD.) FRANCISCO C. CANUTO
Duly Authorized Signatory
