PSE Circular for Brokers No. 2411-99

September 27, 1999 PSE CIRCULAR FOR BROKERS NO. 2411-99 NOTICE OF DELINQUENCY AND SALE Notice is hereby given that a total of NINE HUNDRED FIFTY THREE THOUSAND THREE HUNDRED FIFTY FOUR (953,354) shares of stock of JG SUMMIT HOLDINGS, INC. (the "Corporation") described hereafter is delinquent for non-payment of the unpaid subscription thereon due and payable on July 19, 1999. Now therefore, the delinquent shares of stock belonging to the respective stockholders as set forth below will be sold by way of public auction to be held at the 40/F Conference Room, Robinsons-PCI Tower, ADB Ave. cor. Poveda Road, Pasig City on October 8, 1999 at 4:00 P.M. in accordance with law to such bidder who shall offer to pay the full amount of the balance on the subscription together with accrued interest at the legal rate of 6% of such balance computed from the payment due date up to the date of sale, costs of advertisement and expenses of sale for the smallest number of shares or fraction of a share, unless the delinquent stockholders pay to the Corporation on or before the date specified for the sale of the delinquent stock the balance due on their subscription plus accrued interest, costs of advertisement and expenses of sale: Amount to be Paid Name of No. of Subscription Accrued Expenses Total Amount Stockholder Shares Amount Due Interest of Sale to be paid 1. CITIBANK NA 13,250 P19,875.00 P264.64 P159.83 P20,299.47 MLA OBO A/C 141200188 2. CITIBANK N.A. 253,192 379,788.00 5,056.90 3,054.17 387,899.07 MLA OBO A/C 141209350 3. CITIBANK N.A. 68,875 103.312.50 1,375.61 830.82 105,518.93 MLA OBO A/C 6001310041 4. CITIBANK N.A. 555,637 833,455.50 11,097.52 6,702,47 851,255.49 MLA OBO A/C 6001680371 5. DEUTSCHE BANK AG 25 37.50 0.50 0.30 38.30 MANILA BRANCH 6. HONGKONG 62,375 93,562.50 1,245.50 752.41 95,560.70 BANK ON BEHALF OF MANILA A/C 597716/550 TOTAL 953,354 P1,430,031.00 P19,040.96 P11,500.00 P1,460,571.96 Metro, Manila Philippines, September 24, 1999. By Authority of the Chairman: (SGD.) EMMANUEL C. ROJAS, JR. Corporate Secretary