PSE Circular for Brokers No. 1540-99

June 29, 1999 PSE CIRCULAR FOR BROKERS NO. 1540-99 June 28, 1999 THE SECURITIES AND EXCHANGE COMMISSION SEC Building, EDSA, Mandaluyong City Gentlemen : Please be advised that during the Annual Stockholders' Meeting of the Abacus Consolidated Resources and Holdings, Inc. held on June 28, 1999 at the Ylang-Ylang Room, Club Filipino, Eisenhower cor. McKinley Streets, Greenhills, San Juan, Metro Manila, the following were elected members of the Board of Directors for the year 1999: I. Board of Directors : 1. Carmelito R. Zapanta; 2. Clarita T. Zarraga; 3. Iluuminado B. Montemayor; 4. Leonardo S. Gayao; 5. Benjamin B. Zarraga; 6. Calixto Y. Laureano; 7. Manuel A. de Leon; 8. Ricardo Leong; 9. Salvador G. Mercader; 10. Martha R. Horrigan; 11. Jose Fernando B. Camus. The stockholders also approved appointment of Fidelity Stock and Transfers, Inc. as the Transfer Agent and the Laya, Manghaya, Salgado and Co. as the External Auditor of the corporation. cdll Likewise, the Board of Directors elected the officers of the company for the current year namely the following: 1. Carmelito R. Zapanta Chairman of the Board 2. Clarita T. Zarraga President 3. Iluminado B. Montemayor Treasurer 4. Leonardo S. Gayao Corporate Secretary Trusting that the foregoing information can update our files with your good Office. Thank you. Very truly yours, ABACUS CONSOLIDATED RESOURCES AND HOLDINGS, INC. By: (SGD.) LEONARDO S. GAYAO Corporate Secretary