PSE Circular for Brokers No. 1154-99

May 21, 1999 PSE CIRCULAR FOR BROKERS NO. 1154-99 May 20, 1999 Philippine Stock Exchange, Inc . PSE Center, Exchange Road Ortigas, Pasig City Fax No. 636-08-09 Attention: Disclosure Department Listings and 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. ("UNIOIL") held this afternoon, the Board of Directors has resolved to postpone the Annual Meeting of Stockholders scheduled on June 9, 1999 at 3:00 p.m. as per the By-laws of UNIOIL to July 6, 1999, Tuesday, at 9 : 00 a . m . in view of the unavailability of the key officers of UNIOIL on the original schedule. The record date, i.e. April 28, 1999, and the agenda shall, however, remain the same, to wit: cdt 1. Call to Order 2. Notice and Quorum 3. Approval of the Minutes of the Annual Stockholders' Meeting held on June 10, 1998 4. Report of Management 5. Approval and Ratification of All Acts, Proceedings and Resolutions of the Board of Directors and Management for the Year 1998-1999 6. Election of Directors for 1999-2000 7. Appointment of External Auditor 8. Unfinished Business 9. New Business 10. Adjournment Thank you. Very truly yours, (SGD.) ATTY. NEMESIO R. BRIONES Corporate Secretary