PSE Circular for Brokers No. 1012-98

May 12, 1998 PSE CIRCULAR FOR BROKERS NO. 1012-98 May 12, 1998 Philippine Stock Exchange, Inc. Phil. Stock Exchange Centre Exchange Road Ortigas Center, Pasig City Fax No. 636-0809/637-8811 Attention: Mr . Joselito V . Santos Acting Head Compliance & Surveillance Dept . Gentlemen : Please be advised that at the annual meeting of the stockholders of ITOGON SUYOC MINES, INC. (the "Corporation") held last Friday, May 8, 1998, the following were elected directors of the Corporation for the fiscal year 1998-1999, to serve as such until their successors have been duly elected and qualified: ALBERTO M. MONTILLA RAFAEL ORTIGAS, JR. IGNACIO ORTIGAS JOSE ERNESTO C. VILLALUNA, JR. FROILAN C. GERVASIO CELIA V. DE JESUS LUCIANO H. TAN LUIS M. ALBERTO MARIO VIEL Very truly yours, (SGD.) JOCELYN I. SANCHEZ-SALAZAR Corporate Secretary May 12, 1998 Philippine Stock Exchange, Inc. Phil. Stock Exchange Centre Exchange Road Ortigas Center, Pasig City Fax No. 636-0809/637-8811 Attention: Mr . Joselito V . Santos Acting Head Compliance & Surveillance Dept . Gentlemen : Please be advised that at the organizational meeting of the Board of Directors of ITOGON SUYOC MINES, INC. (the "Corporation") held last Friday, May 8, 1998, immediately after the annual stockholder's meeting of the Corporation, the following persons were elected to the offices set forth after their respective names, to serve as such until their successors have been duly elected and qualified: ALBERTO M. MONTILLA President and Chairman of the Board JOSE ERNESTO C. VILLALUNA, JR. Vice Chairman FROILAN C. GERVASIO Executive Vice President ANTONIO B. DIMAANO Vice President for Operations MANSUETO C. GILLADOGA, JR. Vice President for Projec. 3000 CELIA V. DE JESUS Treasurer JOCELYN I. SANCHEZ-SALAZAR Corporate Secretary Very truly yours, (SGD.) JOCELYN I. SANCHEZ-SALAZAR Corporate Secretary