Picop Resources, Inc.

May 26, 1998 PSE CIRCULAR FOR BROKERS NO. 1125-98 SUBJECT : Picop Resources, Inc . Picop Resources, Inc. ("PCP) furnished the Exchange on May 22, 1998 a copy of SEC Form 34-A (Definitive Proxy Statement) in connection. with its Annual Stockholders' Meeting which will be held on June 26, 1998 , at 2:30 p.m., at the Heritage Ballroom, Heritage Hotel, EDSA corner Roxas Blvd., Pasay City. The agenda for the meeting shall be as follows: 1. Call to Order 2. Proof of Notice 3. Determination of Quorum 4. Approval of Previous Minutes-Annual Meeting of June 17, 1997 5. Chairman's Report for 1997 6. Approval of Annual Report and Ratification of all Acts, Decisions and Proceedings of the Board of Directors and Management since the Last Annual Meeting 7. Nomination and Election of Directors 8. Appointment of External Auditors 9. Other Matters 10. Adjournment Stockholders of record as of May 28, 1998 are entitled to notice of, and to vote at, said meeting. A copy of PCP's Definitive Proxy Statement is available for reference at the PSE Library and PSE-Plaza Administration Office. For your information. (SGD.) REYNOLD P. ONG Vice-President, Listings and Disclosure Group