PSE Circular for Brokers No. 1174-98

May 28, 1998 PSE CIRCULAR FOR BROKERS NO. 1174-98 SUBJECT : Bacnotan Consolidated Industries, Inc. Additional Listing The Exchange approved the listing application of BACNOTAN CONSOLIDATED INDUSTRIES, INC . to list additional 11,215,261 common shares , with a par value of P10 . 00 per share , to cover the following: 1. 148,599 common shares , to cover the issued but unlisted shares arising from the following: Remaining 50% Stock Dividend of Bond Conversions 147,820 Remaining 50% Stock Dividend of additional ESOP availments 563 Remaining 33 1/3% Stock Dividend 216 2. 11,066,662 common shares , to cover the 15% stock dividend declaration to stockholders of record as of November 17, 1997 . The 816 common shares representing the 563 common shares to cover the remaining 50% stock dividend of record as of February 6, 1995 and the 253 common shares to cover the remaining 15% stock dividend of record as of November 17, 1997 of the unlisted 1,125 common shares under the Company's Employee Stock Option Plan shall be listed together with the ESOP shares. In view thereof, the listing of 11,214,445 common shares is set for Friday , June 5, 1998 . For your information and guidance. (SGD.) REYNOLD P. ONG Vice-President, Listings and Disclosure Group