Chemical Industries of the Philippines, Inc.

August 26, 1999 PSE CIRCULAR FOR BROKERS NO. 2130-99 SUBJECT : Chemical Industries of the Philippines, Inc . Further to Circular for Brokers No. 2002-99 dated August 12, 1999, Chemical Industries of the Philippines furnished the Exchange a copy of its SEC Form 34-C (Definitive Information Statement), including its December 31, 1998 Financial Statements, in connection with its Annual Stockholders' Meeting which will be held on September 6, 1999 , at 10:00 a.m., at the 7th Floor, Board Room, Chemphil Building, 851 Arnaiz Avenue, Makati City. The agenda for the meeting shall be as follows: I. Call To Order II. Proof of Due Notices/Quorum III. Approval of the Minutes of the Meeting Held on September 22, 1998 IV. Presentation of the 1998 Annual Report V. Election of Directors VI. Designation of SGV & Company as the Company's External Auditor VII. Ratification of the resolutions and proceedings of the Board of Directors and the Board Executive Committee as well as the acts of Management and Officers for the period September 23, 1998 to September 5, 1999 VIII. Other Matters: Ratification of the following agreements: 1. A.Management Support Services Agreement with CAWC; B.Management Agreement with CAWC 2. A.Management Support Services Agreement with LMG B.Management Agreement with LMG 3. Agreement on Shared Services with KPC 4. Administrative and Other Support Services Agreement with PEC 5. Management Support Services Agreement with PETROCORP. IX. Adjournment As previously announced, stockholders of record as of September 2, 1999 are entitled to notice of, and to vote at, said meeting. A copy of CIP's Definitive Information Statement, including its 1998 Financial Statements, is available for reference at the PSE Centre and PSE-Ayala Libraries. For your information. (SGD.) ATTY. RUBEN L. ALMADRO Officer-In-Charge