PICOP Resources, Inc.

June 3, 1999 PSE CIRCULAR FOR BROKERS NO. 1308-99 SUBJECT : PICOP Resources, Inc . Picop Resources, Inc. ("PCP") furnished the Exchange a copy of its SEC Form 34-A (Proxy Statement), including its 1998 Financial Statements, in connection with its Annual Stockholders' Meeting which will be held on June 22, 1999 , at 2:30 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 3. Determination of Quorum 4. Approval of Previous Minutes Annual Meeting of June 26, 1998 5. Chairman's Report for 1998 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 21, 1999 are entitled to notice of and to vote at said meeting. LLphil A copy of PCP's Proxy Statement, together with its 1998 Financial Statements, are available for reference at the PSE-Library and PSE-Plaza Administration Office. For your information. (SGD.) JOSE LUIS U. YULO, JR. President and CEO