Asian Terminals, Inc.

October 13, 1998 PSE CIRCULAR FOR BROKERS NO. 2346-98 SUBJECT : Asian Terminals, Inc . Further to Circular No. 2196-98 dated September 22, 1998, Asian Terminals, Inc. ("ATI") furnished the Exchange on October 9, 1998 a copy of SEC Form 34-A (Definitive Proxy Statement) in connection with its Annual Stockholders' Meeting which will be held on October 22, 1998 , at 2:00 p.m., at the Harana Ballroom, Hyatt Regency Hotel, Roxas Boulevard, Pasay City. The Agenda for the meeting shall be as follows: 1. Call to Order 2. Proof of Notice and Quorum 3. Approval of the Minutes of the last Annual Stockholders' Meeting held on October 23, 1997 4. Approval of the Minutes of the Special Stockholders' Meeting held on August 12, 1998 5. Chairman's Address 6. Election of Directors 7. Confirmation of Independent Auditors 8. Other Matters All stockholders of record at the close of business on October 1, 1998 are entitled to notice of, and to vote at, said meeting. llcd A copy of ATI's Definitive Proxy Statement is available for reference at the PSE Library and PSE-Plaza Administration Office. For your information. (SGD.) JOSE LUIS U. YULO, JR. President and Chief Executive Officer