PSE Circular for Brokers No. 1482-98

July 1, 1998 PSE CIRCULAR FOR BROKERS NO. 1482-98 Company : Philippine Stock Exchange Phone : 636-01-22 Fax : 636-08-09 From : Atty. Rodolfo Corvite, Jr. Company : Asian Terminals, Inc. Phone : 527-80-51 to 60 Fax : 527-24-67 Pages : This page only Date : 29 June 1998 Subject : As Stated This is to advise your office that during the special meeting of the Board of Directors held this afternoon, it was resolved and agreed upon to hold a Special Stockholders' Meeting on 12 August 1998 for the purpose of obtaining approval for a proposed increase in authorized capital stock from P1.2 Billion to P4 Billion and the necessary amendment in its Articles of Incorporation pursuant thereto as well as the approval of a rights issue in the amount of P1 Billion, the final price per share of which shall be determined by Management. For this purpose the closing date shall be on July 22. Thank you. (SGD.) ATTY. RODOLFO CORVITE, JR.