Republic Cement Corporation Additional Listing

February 18, 1998 PSE CIRCULAR FOR BROKERS NO. 164-98 SUBJECT : Republic Cement Corporation Additional Listing Please be informed that on September 4, 1997, the Exchange approved subject to the actual exercise of the warrants, the listing application of REPUBLIC CEMENT CORPORATION (the "Company") to list 63,284,628 common shares, with a par value of P1.00 per share, to cover the 40% stock dividend due to warrantholders of record as of April 18, 1996. Likewise, on January 12, 1998, the Exchange approved 489,984,950 common shares, with a par value of P1.00 per share, consisting of 405,900,843 common shares covering the 50% stock dividend due to stockholders of record as of November 28, 1997, on the issued and outstanding shares and 84,084,107 common shares representing the 50% stock dividend on the 120,120,153 underlying common shares of the unexercised warrants and the latter's corresponding 40% stock dividend. The approval, however, of the 84,084,107 common shares is subject to the actual exercise of the said warrants. In connection with this, please be advised that from February 4 to February 13, 1998, the Company has received notice from warrantholders for the exercise of 112,335,004 warrants. These warrantholders are entitled to a total of 123,568,481 common shares consisting of 44,933,990 common shares and 78,634,491 common shares to cover the 40% and 50% stock dividend declarations, respectively. cdlex In view thereof, the listing of the 123,568,481 common shares is set for Thursday, February 26, 1998 . For your information and guidance. (SGD.) MARIA ISABEL T. GARCIA Head, Listing and Disclosures Group