Alcorn Petroleum and Minerals Corporation

June 16, 1999 PSE CIRCULAR FOR BROKERS NO. 1405-99 SUBJECT : Alcorn Petroleum and Minerals Corporation Further to Circular for Brokers No. 1004-99 dated May 6, 1999, Alcorn Petroleum and Minerals Corporation ("APM") furnished the Exchange a copy of its SEC Form 34-A (Definitive Proxy Statement), including its 1998 Annual Report, in connection with its Annual Stockholders' Meeting which will be held on June 25, 1999 at 2:00 p.m. at the Makati Shangri-La Hotel (Makati "A" & "B" Room), Ayala Avenue corner Makati Avenue, Makati City. The Agenda for the meeting shall be as follows: 1. Call to Order 2. Certification of Notice and Quorum 3. Approval of the Minutes of the Previous Meeting of Stockholders 4. Annual Report of the President 5. Ratification of the Acts of the Board of Directors and Management during the year 1998 6. Election of Directors 7. Appointment of External Auditors 8. Other Matters 9. Adjournment As previously announced, stockholders of record as of May 25, 1999 are entitled to notice of, and to vote at, said meeting. Stockholders who cannot attend in person may fill up and submit a proxy form to the Corporate Secretary at least five (5) days before the Annual Meeting. A copy of APM's Definitive Proxy Statement, together with its 1998 Annual Report, is available for reference at the PSE Library and PSE-Plaza Administration Office. For your information. (SGD.) JOSE LUIS U. YULO, JR. President & CEO