PSE Circular for Brokers No. 079-00

January 13, 2000 PSE CIRCULAR FOR BROKERS NO. 079-00 January 11, 2000 PHILIPPINE STOCK EXCHANGE, INC. Disclosure Department Listing and Disclosure Group 4th Floor, PSE Centre Pasig City, Metro Manila Attention: Mr . Reynaldo P . Ong Vice-President Gentlemen : NOTICE is hereby given that during the special meeting of the Board of Directors of A Brown Company, Inc. ("ABC") held today, 11 January 2000, wherein a quorum was present and voting, the Board of Directors approved the following matters: 1. Incorporation of a subsidiary corporation; 2. Sale of trademarks and trade names of the chemical products of ABCI to the subsidiary corporation to be incorporated; 3. Mortgage of certain real properties of ABCI to secure the obligations of the subsidiary or of another corporation which used to be a subsidiary of ABCI, provided that the mortgage is done as part of the sale of the subsidiary to the latter corporation and of which ABCI has an interest; 4. Authorizing the dacion en pago of the real properties located in Cagayan de Oro and registered in the name of ABCI and East Pacific Investors Corporation ("EPIC") in favor of Landbank of the Philippines; 5. Restructuring of existing loan obligations with Solidbank Corporation and the mortgage of certain real and personal properties of ABCI to secure the loan obligations. 6. Calling of a Special Stockholders' Meeting on 11 February 2000 for the approval of the acts specified in numbers 1 to 5. Also, we hereby give NOTICE that on 24 December 1999, the Securities and Exchange Commission approved the Plan of Merger and Reorganization executed on 28 May 1999, by and between ABCI (Surviving Corporation) and the absorbed corporations, namely, A Brown Chemical Corporation, East Pacific Investors Corporation, Geoex Farms, Inc., Terra Asia Pacific Development Managers, Inc. and Victorsons Trans Cargo Services, Inc. LexLib Please be guided accordingly. Very truly yours, (SGD.) OLIVA P. PEDERE Corporate Secretary