Petrofields CorporationEffectivity Date of Trading Based on Reduced Number of Shares

June 4, 1999 PSE CIRCULAR FOR BROKERS NO. 1321-99 SUBJECT : Petrofields Corporation Effectivity Date of Trading Based on Reduced Number of Shares Further to Circular No. 748-99 dated April 13, 1999, please be informed that the Exchange approved to reduce the number of listed shares of PETROFIELDS CORPORATION (" the Company ") by 8,392,000 common shares , consisting of 1,240,680 common Class "A" shares and 7,151,320 common Class "B" shares , which represent the unissued but listed shares. In connection with the reclassification of the authorized capital stock of the Company, the Exchange further approved the new number of listed shares of 98,292,142 common shares , divided into 59,515,446 common Class "A" and 38,776,696 common Class "B" shares , both with par value of P1 . 00 per share . In view thereof, the trading of the reduced number of shares of 98,292,142 common shares , divided into 59,515,446 common Class "A" and 38,776,696 common Class "B" shares shall resume on Tuesday, June 8, 1999 . For your information and guidance. (SGD.) JOSE LUIS U. YULO, JR. President & CEO