PSE Circular for Brokers No. 2145-99

August 27, 1999 PSE CIRCULAR FOR BROKERS NO. 2145-99 August 27, 1999 Ms. Grace B. de Guia Assistant Manager Disclosure Department Philippine Stock Exchange, Inc. 4/F Philippine Stock Exchange Center Exchange Road, Ortigas Center Pasig City Dear Ms. De Guia : We refer to your request for clarification of the news article "Take Over Petron, solons urge; take over imports, oil firms say" which was published in today's issue of the Business World. Please be informed that we have not received any official communication from any government entity regarding the reported proposal of Senator Franklin Drilon and Representative Ernesto Hererra for government to reacquire majority control of Petron Corporation. Also, we would like to correct the figures from the same article that Petron controls about 60% of the market. Petron's market share for the first half is approximately 36% only. Very truly yours, (SGD.) ATTY. LUIS A. MAGLAYA Asst . Corporate Secretary