PSE Circular for Brokers No. 1429-98

June 25, 1998 PSE CIRCULAR FOR BROKERS NO. 1429-98 June 24, 1998 PHILIPPINE STOCK EXCHANGE, INC. DISCLOSURE DEPARTMENT Listings and Disclosure Group 4/F Philippine Stock Exchange Center Exchange Road, Ortigas Center Pasig City Attention: Mr . Reynold P . Ong Vice President, Listings & Disclosure Group Dear Mr. Ong : Pursuant to the disclosure requirements of the Philippine Stock Exchange, Inc. (the "Exchange"), please be informed that in the Annual Meeting of the Stockholders held in the afternoon of even date, where a quorum was present and acting throughout, the stockholders of EAST ASIA POWER RESOURCES CORPORATION (the "Corporation"), by at least a majority of the directors present, elected the following persons to be the members of the Board of Directors for 1998-1999. Johannes B. Kotjo Jesus N. Alcordo Jose S. Alejandro Freddie Kim Chuan Heng Andrew L. Gotianun, Sr. Victor S. Chiongbian Jonathan T. Gotianun Jose C. Reyes Augusto T. Villa-Real The stockholders of the Corporation also voted to retain the accounting firm of SyCip Gorres Velayo & Co. (SGV & Co.) as the independent auditor of the Corporation. At the organizational meeting of the Board of Directors immediately following the Annual Stockholders' Meeting, the following persons were elected to be the officers of the Corporation for 1998-1999; Johannes B. Kotjo Honorary Chairman of the Board Jesus N. Alcordo Chairman of the Board Jose S. Alejandro President Senen C. Bacani Treasurer Jose A. Feria, Jr. Corporate Secretary J. Ildebrando B. Ambrosio Assistant Corporate Secretary Thank you for your attention. Very truly yours, (SGD.) JOSE A. FERIA, JR. Corporate Secretary