Reynolds Philippines Corporation

August 13, 1999 PSE CIRCULAR FOR BROKERS NO. 2016-99 SUBJECT : Reynolds Philippines Corporation Reynolds Philippines Corporation ("RPC") furnished the Exchange a copy of its SEC Form 34-A (Preliminary Proxy Statement), in connection with its Annual Stockholders' Meeting which will be held on September 24, 1999 , at 2:30 p.m., at the Orchard Golf and Country Club, Aguinaldo Highway, Dasmarias, Cavite. The agenda for the meeting shall be as follows: 1. Call to Order 2. Proof of Presence of Quorum 3. Review and Approval of the Minutes of the Previous Stockholder's Meeting 4. Election of Directors 5. President's Report and Approval of the 1998 Annual Report 6. Ratification of all acts of the Board of Directors and Management during the year 1998 7. Approval of the Financial Statement 8. Election of Board of Directors for the ensuing term aisadc 9. Appointment of External Auditor 10. Such other business as may come properly before it Stockholders of record as of July 30, 1999 are entitled to notice of, and to vote at, said meeting. A copy of RPC's Preliminary Proxy Statement is available for reference at the PSE Centre and PSE-Plaza Libraries. For your information. (SGD.) JOSE LUIS U. YULO, JR. President and CEO