PSE Circular for Brokers No. 1092-98

May 20, 1998 PSE CIRCULAR FOR BROKERS NO. 1092-98 PHILIPPINE STOCK EXCHANGE, INC. DISCLOSURE DEPARTMENT Listing and Disclosure Group 4/F, Philippine Stock Exchange Center PSE Centre, Exchange Road Ortigas Center, Pasig City Fax No. 636-08-09 Attention: Mr . Reynold P . Ong Vice President Listing & Disclosure Group Gentlemen : In compliance with the existing rules of the Exchange, please be informed that in a special meeting of the Board of Directors of Unioil Resources & Holdings Company, Inc. held this afternoon, the Board of Directors has resolved to postpone the Annual Meeting of Stockholders scheduled on June 10, 1998 at 3:00 p.m. to June 26, 1998 at 8:00 a.m. in view of the inability of the external auditors of the Corporation to complete the preparation of the final audited financial statements as of the fiscal year ended December 31, 1997. The audited financial statements are required to be furnished, together with certain reports, to all stockholders within the period specified under the SEC Full Disclosure Rules. The postponement of the Annual Meeting is necessary to enable the Corporation to comply with the SEC requirements. The record date, i.e. May 1, 1998, and the agenda shall, however, remain the same, to wit: cdlex 1. Call to Order 2. Proof of Notice and Determination of Quorum 3. Approval of the Minutes of the Annual Meeting Held on September 16, 1997 4. Report of Management for the Year 1997 5. Election of Directors for 1998-1999 6. Appointment of External Auditor 7. Unfinished Business 8. New Business 9. Adjournment Thank you. Very truly yours, (SGD.) ATTY. NEMESIO R. BRIONES Corporate Secretary