Reynolds Philippines Corporation

September 8, 1999 PSE CIRCULAR FOR BROKERS NO. 2235-99 SUBJECT : Reynolds Philippines Corporation Further to Circular for Brokers No. 2016-99 dated August 13, 1999, Reynolds Philippines Corporation ("RPC") furnished the Exchange a copy of its SEC Form 34-A (Definitive Proxy Statement), including its Annual Report to Security Holders for the fiscal year ending December 31, 1998, 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, Dasmarinas, Cavite. As previously announced, stockholders of record as of July 30, 1999 are entitled to notice of, and to vote at, said meeting. Stockholders who cannot attend but wish to send a representative/proxy may execute and send a proxy letter to the Corporate Secretary, Reynolds Philippines Corporation, 2/F Building No. 5, Avocado Road, FTI Complex, Taguig, Metro Manila. cdll A copy of RPC's Definitive Proxy Statement, including its Annual Report, is available for reference at the PSE Centre and PSE-Plaza Libraries. For your information. (SGD.) JOSE LUIS U. YULO, JR. President and CEO