PSE Circular for Brokers No. 1358-99

June 9, 1999 PSE CIRCULAR FOR BROKERS NO. 1358-99 June 8, 1999 PHILIPPINE STOCK EXCHANGE, INC . Philippine Exchange Center Exchange Road, Pasig Metro Manila Attention: DISCLOSURE DEPARTMENT Listings and Disclosure Group 4th Floor Philippine Stock Exchange Center PSE Center, Exchange Road, Ortigas Center, Pasig City Gentlemen : In connection with the organizational meeting of the Board of Directors of ATOK-BIG WEDGE CO., INC., held on June 8, 1999 at 4:00 p.m. at the 18th Floor Conference Room, Aurora Tower, Araneta Center, Quezon City, the following matters among others were taken up. I. Proof of the presence of a quorum. II. Reading and approval of the minutes of previous Annual Stockholders' Meeting (May 21, 1999). III. Acceptance of the resignation of MR. JORGE L. ARANETA as Director of the Corporation. IV. Election of MR. TEOFILO R. ASUNCION, JR. as Director in replacement of MR. JORGE L. ARANETA. V. Election of the following officers. a. Chairman of the board Atty. Ramon M. Felipe, Jr. b. President Mr. Teofilo R. Asuncion, Jr. c. Vice-President Operations Mr. Rogelio G. Fores d. Treasurer Mr. John Castelo e. Asst. Vice-President Resident Manager Mr. Rutillo A. Torres f. Chief Accountant Ms. Rowena Manzano g. Internal Auditor Ms. Melehinde G. Anuales h. Department Head Finance Mr. Mario Cera i. Corporate Secretary Atty. Mariano Sarmiento II j. Asst. Corporate Secretary Atty. Gerardo T. Herrera VI. Acceptance of the resignation of Messrs. VICTOR R. KALAW and RINFREDO B. DELA CRUZ as Directors of the Corporation. VII. Election of Messrs. PHILIP E. JUICO and ARMANDO T. DOMINGO as Directors in replacement of Messrs. VICTOR R. KALAW and RINFREDO B. DELA CRUZ VIII. Designation of authorized check signatories. MR . TEOFILO R . ASUNCION, JR . was the Executive Vice-President of Atok-Big Wedge Co., Inc. prior to his election as President of the Corporation. He is 51 years old. Mr. Asuncion is a licensed Geologist and has over thirty (30) years of professional experience, almost twenty five (25) years of which were spent doing consulting work with Andersen Consulting, Inc. and the consulting division of Sycip, Gorres, Velayo and Co. (SGV). aisadc As Partner and Head of the Change Management Services Division of Anderson Consulting in 1992 to 1997. Mr. Asuncion specialized in providing change management consulting services. Change management services cover the areas of organization design and development, human capital design and development, performance design and development and change navigation. Mr. Asuncion started out as a Consultant in SGV in 1972, and rose to the level of partner in 1979. While in SGV, he has extensive experience in providing productivity improvement, cost reduction, industrial engineering, operational consulting and human resource management consulting services. Mr. Asuncion catered to clients in both private and public sectors, and had exposure to various industries including banking, insurance, manufacturing, mining and services. He did consulting and training projects in the Philippines, Indonesia, Malaysia, Thailand, Singapore and Pakistan. LibLex As partner in both Andersen Consulting and SGV, his major responsibilities included the development and marketing of services in his practice area, actual conduct and supervision of consulting projects and the training and development of staff working under him. He is among others Executive Vice-President of Progressive Development Corporation. MR . PHILIP E . JUICO holds a master of Business Management degree from the Asian Institute of Management and Bachelor of Science and Commerce (Accounting) and Bachelor of Arts (History and Political Science) degrees from De La Salle University. His wide expertise and experience include Development management; Business management; Public administration; Agribusiness and agrarian reform; Strategic planning, enterprise development and Sports development and promotion. He was formerly Presidential Consultant on Community Development, Secretary of the Department of Agrarian Reform; Director of San Miguel Corporation, MERALCO, Land Bank, and Development Bank of the Philippines (DBP); Agribusiness and Management Consultant for projects in Nigeria, Saudi Arabia, Papua New Guinea, Malaysia and the Philippines; Chairman of the National Agribusiness Corporation (NABCOR). Mr. Juico has been privileged to gain first-hand experience in the management and operation of no less than twenty five (25) organizations. These include policy-making bodies and line agencies of Government, as well as from corporate giants to new business ventures and production outfits in the private sector. He has served as Chief Executive Officer (CEO) ultimately responsible for attaining organizational goals as senior official who is part of a Management Team, as Chairman or Member of the Board, and as Business Development Consultant. cdlex Mr. Juico's career has allowed him to travel extensively in the Philippines and to over thirty (30) countries and to be familiar with the causes and key people behind a wide range of fields and concerns. Moving from strength, Mr. Juico has developed over the past twenty five (25) years the skills, insights and linkages that now add up to a potent decision-making perspective. They likewise provide him that cutting edge in identifying and seizing opportunities, setting direction, and wielding human and other resources to quickly produce desired results. He is among others President of Uniprom, Incorporated. MR . ARMANDO T . DOMINGO is a Senior Vice-President for Controllership of the Progressive Development Corporation. He is a graduate of Bachelor of Science in Business Administration major in Accounting at the University of the Philippines and a licensed Certified Public Accountant. He also took up units in Master of Business Administration at the Ateneo de Manila University and Management Development Program at the Asian Institute of Management. He has thirty (30) years professional experience doing consultancy job. He was with SGV's Audit Division for five (5) years before joining SGV Business Consulting as Manager specializing in the design and implementation of accounting, management information, cost management, project monitoring systems and operations audit. For private companies, his clients business are manufacturing insurance, trading, savings and loan associations, credit card, hospitals and department store chains. In the government sector, aside from the Philippines, he has performed consultancy work with other countries such as Indonesia, Cambodia, Bangladesh and Malaysia. prLL (SGD.) MARIANO SARMIENTO II Corporate Secretary and Chief Information Officer