March 21, 2000

PSE CIRCULAR FOR BROKERS NO. 729-00

March 20, 2000

PHILIPPINE STOCK EXCHANGE
PSE Center Exchange Road
Ortigas Center Pasig City

Attention: Ms. Maria Isabel T. Garcia

Head Listings Group

Compliance Monitoring

Gentlemen :

Pursuant to our disclosure dated 15 March 2000, we would like to correct the name of one of the newly elected directors of the Board from Gaston C. Ortigas to Gaston D. Ortigas. Jr.

For your information.

PDCP DEVELOPMENT BANK, INC.

By:

(SGD.) ELMER D. NITURA
First Vice President and
Corporate Information Officer