PSE Circular for Brokers No. 2266-98

September 29, 1998 PSE CIRCULAR FOR BROKERS NO. 2266-98 PHILIPPINE STOCK EXCHANGE PSE Centre Exchange Road, Ortigas Centre Pasig City Attention: Compliance and Surveillance Dept . RE : Concrete Aggregates Corporation Gentlemen : This is to confirm our telephone advice to you earlier today that the stockholders of Concrete Aggregates Corporation (the "Corporation"), at their special meeting held today, approved resolutions authorizing the Corporation to: (1) spin-off and transfer its concrete aggregates business (including all related assets and liabilities) to a wholly-owned subsidiary to be created for the purpose ("Newco") in exchange for shares of Newco; and (2) to amend its Articles of Incorporation to change: (a) its primary purpose clause to read as follows: "To invest in, purchase, or otherwise acquire and own, hold, use, lease, franchise, license, work, improve, divide, sell, assign, transfer, mortgage, pledge, exchange, or otherwise handle, deal in, and dispose of real and personal property of every kind and description, including shares of stock, bonds, debentures, notes, evidences of indebtedness, and other securities or obligations of any other corporation or association, domestic or foreign, and to pay therefor in money or by exchanging therefor stocks, bonds, or other evidences of indebtedness or securities of this or any other corporation and, while the owner or holder of any such real or personal property, stocks, bonds, debentures, contracts, or obligations, to receive, collect and dispose of the interest, dividends, and income arising from such properties, and to possess and exercise in respect thereof of all the rights, powers, and privileges of ownership, without engaging in the stock brokerage business or as dealer of securities"; and dctai (b) its corporate name to "CAC Holdings Corporation". Very truly yours, CONCRETE AGGREGATES CORPORATION By: (SGD.) FRANCISCO M. ORTIGAS III