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March 20, 2000PSE CIRCULAR FOR BROKERS NO. 706-00TO:MS. GRACE DE GUIA  PHILIPPINE STOCK EXCHANGE  DISCLOSURE DEPARTMENT   FAX NO.:636-08-09   FROM:GRACE Q. BAY  CENTRO ESCOLAR UNIVERSITY   FAX NO.:735-59-91   DATE:17 MARCH 2000 Please be advised that in the Special Stockholders Meeting of Centro Escolar University held today, March 17, 2000, at 3:30 p.m., the following acts were unanimously approved by the stockholders:1. Amendment of Article VI of the Articles of Incorporation to increase the number of directors from seven (7) to nine (9);2. Amendment of Article VII of the Articles of Incorporation to abolish Preferred and Class B Common Stock and to change the par value of Class A Common Stock from PhP100.00/share to PhP1.00/share. cITAaDThe stockholders also ratified/confirmed the appointment of Sycip Gorres Velayo & Co., as external auditor.(SGD.) GRACE Q. BAY