Petron Corporation

February 2, 1999 PSE CIRCULAR FOR BROKERS NO. 194-99 SUBJECT : Petron Corporation Further to Circular for Brokers No. 140-99 dated January 27, 1999, Petron Corporation ("PCOR") furnished the Exchange a copy of SEC Form 34-C (Preliminary Information Statement) in connection with its Annual Stockholders' Meeting which will be held on April 26, 1999 , at 11:00 A.M., at the Ballroom, 2nd Floor, Manila Midtown Hotel, Pedro Gil cor. Adriatico Streets, Malate, Manila. The agenda for the meeting shall be as follows: cdlex 1. Call to Order 2. Report on Attendance and Quorum 3. Review and Approval of Minutes of Previous Stockholders' Meeting 4. Management Report for the Year 1998 5. Ratification of all acts of the Board of Directors and Management during the Year 1998 6. Appointment of Independent Auditor 7. Election of the Board of Directors for the ensuing term 8. Such other business as may properly come before it As previously disclosed, stockholders of record as of February 26, 1999 are entitled to notice of, and to vote at, said meeting. A copy of PCOR's Preliminary Information Statement is available for reference at the PSE Library and PSE-Plaza Administration Office. For your information. cdpr (SGD.) JOSE LUIS U. YULO, JR. President and CEO