PSE Circular for Brokers No. 1049-98

May 18, 1998 PSE CIRCULAR FOR BROKERS NO. 1049-98 May 14, 1998 Philippine Stock Exchange Ortigas Avenue Pasig City Attention: Mr . Reynold P . Ong Vice Pres ., Listings & Disclosures Securities and Exchange Commission SEC Building E. de los Santos Avenue Mandaluyong City Attention: Brokers and Exchange Department Gentlemen : Annual Meeting of Stockholders Please be advised that, in accordance with the by-laws of the Corporation, the Board of Directors of ORIENTAL PETROLEUM AND MINERALS CORPORATION has scheduled the regular annual meeting of the stockholders of the Corporation on Tuesday, June 30, 1998, at 5 : 00 P . M . , at the Galleria Suites, ADB Avenue, Quezon City , and set the record date of the meeting on the close of business on Friday, May 29, 1998 . Only stockholders of record as of the record date will be entitled to notice of, and to vote at, the meeting. cdt Very truly yours, (SGD.) ETHELWOLDO E. FERNANDEZ Corporate Secretary