United Paragon Mining Corporation

June 24, 1999 PSE CIRCULAR FOR BROKERS NO. 1488-99 SUBJECT : United Paragon Mining Corporation Further to Circular No. 1415-99 dated June 16, 1999, United Paragon Mining Corporation ("UPM") furnished the Exchange a copy of its SEC Form 34-C (Definitive Information Statement) in connection with its Annual Stockholders' Meeting which will be held on July 30, 1999 , at 10:00 a.m., at the Morong Room, Valle Verde Country Club, Pasig City. As previously announced, stockholders of record as of June 16, 1999 are entitled to notice of, and to vote, at, said meeting. LLphil Stockholders who cannot attend the meeting are requested to accomplish a proxy form and return the same to the Office of the Corporate Secretary no later than 5:00 p.m. of July 23, 1999. A copy of UPM's Definitive Information Statement is available for reference at the PSE Library and PSE-Plaza Administration Office. For your information. (SGD.) JOSE LUIS U. YULO, JR. President and CEO