PSE Circular for Brokers No. 1518-99

June 28, 1999 PSE CIRCULAR FOR BROKERS NO. 1518-99 25 June 1999 PHILIPPINE STOCK EXCHANGE 4/F Phil. Stock Exchange Centre Exchange Road, Ortigas Center Pasig City Fax No.: 636-0809 Attention: Disclosure Department Listings & Disclosure Group RE : APMC Directors & Officers (1999-2000) Gentlemen : During the Annual Stockholders' Meeting of Alcorn Petroleum and Minerals Corporation held at the Makati A&B Room of the Makati Shangri-La Hotel, Makati City, held at 2:00 p.m., on June 25, 1999, the following were re-elected as members of the Board of Directors of the Corporation to serve for the year 1999-2000 and until their successors shall have been duly elected and have duly qualified: Name Citizenship 1. Estelito P. Mendoza Filipino 2. Lucio L. Co Filipino 3. Leonardo B. Dayao Filipino 4. Macario U. Te Filipino 5. Robert Y. Cokeng Filipino 6. Eduardo F. Hernandez Filipino 7. Ponciano K. Mathay Filipino At the organizational meeting held immediately after the Stockholders' Meeting and held at the same place thereat, the Board of Directors re-appointed the following officers of the Corporation to serve for the year 1999-2000 and until their successors shall have been duly elected and qualified: Name Citizenship 1. Estelito P. Mendoza Chairman of the Board 2. Macario U. Te Vice-Chairman of the Board 3. Eduardo F. Hernandez President 4. Ponciano K. Mathay Vice-President & General Manager 5. Leonardo B. Dayao Vice-President Corporate Planning 6. Mario M. Uson Vice-President Legal & Asst. Corp. Secretary 7. Margarita E. Tcheng Treasurer 8. Eliseo B. Alampay Corporate Secretary 9. Adriana M. Hernandez Assistant Corporate Secretary Very truly yours, (SGD.) MARIO M. USON Asst . Corporate Secretary