AGP Industrial Corporation

May 12, 1999 PSE CIRCULAR FOR BROKERS NO. 1055-99 SUBJECT : AGP Industrial Corporation Further to Circular for Brokers No. 753-99 dated April 15, 1999, AGP Industrial Corporation ("AGP") furnished the Exchange a copy of its SEC Form 34-C (Definitive Information Statement), including its 1998 Financial Statements, in connection with its Annual Stockholders' Meeting which will be held on May 17, 1999 , at 3:00 P.M. at the Makati Sports Club, Alfaro Street, Salcedo Village, Makati City. The Agenda for the meeting shall be as follows: 1. Call to order 2. Proof of notice of meeting 3. Determination of quorum 4. Reading and approval of the minutes of the Annual Stockholders' Meeting of 15 June 1998 5. Management report 6. Confirmation and ratification of all acts, proceedings and resolutions of the Board of Directors and Management covered by the management report 7. Election of Directors 8. Confirmation and ratification of the pledging of AGPI's holdings of AG&P shares to secure corporate indebtedness 9. Appointment of external auditor 10. Other matters 11. Adjournment As previously announced, stockholders of record as of April 16, 1999 are entitled to notice of, and to vote at, said meeting. A copy of AGP's Definitive Information Statement, together with it 1998 Financial Statements, is available for reference at the PSE Library and PSE-Plaza Administration Office. For your information. (SGD.) JOSE LUIS U. YULO, JR. President & CEO