PSE Circular for Brokers No. 243-99

February 11, 1999 PSE CIRCULAR FOR BROKERS NO. 243-99 PHILIPPINE STOCK EXCHANGE, INC. PSE Centre, Exchange Road Ortigas Center, Pasig City Fax No. 637-83-11 Attention: Listings and Disclosure Group RE : Vulcan Industrial & Mining Corp. Notice of Call for Payment of Subscription Sir/Madam : In compliance with your disclosure requirements, please be advised that at the Special Meeting of the Board of Directors of Vulcan Industrial & Mining Corporation (VIMC) held this afternoon, February 10, 1999, the said Board by resolution had made a call for the payment of subscriptions to the P300 Million increased capitalization approved by SEC in 1995, not credited as fully paid in the amount equivalent to ten (10%) percent worth of subscribed par value shares, payable as follows: Equivalent Percentage Due Due Date 5% On or before March 31, 1999 5% On or before July 31, 1999 This confirms the disclosures to PSE made through the telephone following the adjournment of said Board meeting. cd Thank you. Very truly yours, (SGD.) MARIANO L. CELIS II Asst . Corporate Secretary Vulcan Industrial & Mining Corp .