Securities and Exchange Commission Sec Form 11-C Current Report Under Section 11 of The Revised Securities Act (RSA) and RSA Rule 11(a)-l(b)(3) Thereunder

September 29, 1999 PSE CIRCULAR FOR BROKERS NO. 2448-99 SECURITIES AND EXCHANGE COMMISSION SEC FORM 11-C CURRENT REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND RSA RULE 11(a)-1(b)(3) THEREUNDER 1. September 28, 1999 Date of Report 2. SEC Identification No. 60566 3. BIR Tax Identification No. 004-504-2281-VAT 4. EAST ASIA POWER RESOURCES CORPORATION Exact name of registrant as specified in its charter 5. Philippines Province, Country or other jurisdiction of incorporation or organization 6. (SEC use only) Industry Classification Code 7. 20th Floor OMM-CITRA Condominium, San Miguel Avenue, Pasig City 1605 Address of principle office 8. (632) 633-1626 Registrant's telephone number including area code 9. Not Applicable Former name, former address and former fiscal year, if changed since last report 10. Securities registered pursuant to Sections 4 and 8 of the Revised Securities Act Title of Each Class Number of Shares of Stock Outstanding Common 1,292,625,456 Outstanding Shares (446,625,456 shares being applied for listing/ 846,000,000 shares listed on the PSE) US$49,000,000.00 and PhP10,000,000.00 in Outstanding Debt 11. Indicate the item numbers reported herein: Item 4 - Resignation Removal or Election of Registrant's Directors or Officers 12. Report on Items. East Asia Power Resources Corporation ("EAPRC" or the "Company"), wishes to inform the Securities & Exchange Commission ("SEC") and the Philippine Stock Exchange, Inc. ("PSE") that, pursuant to the Share Purchase Agreement dated 23 September 1999 between El Paso Philippines Holding Company, Inc. ("El Paso") and Filinvest Development Corporation ("FDC") for the purchase and sale of the entire shareholdings of FDC in the Company, Messrs. Andrew L. Gotianun, Sr., and Jonathan T, Gotianun have tendered their resignations from the Board of Directors of EAPRC and East Asia Diesel Power Corporation ("EADPC"), effective immediately. As a result of the resignation, there remain seven (7) incumbent members of the EAPRC Board and five (5) members of the EADPC Board, who shall vote on the successors of the Messrs. Gotianun. Sr. and Gotianun at the succeeding meetings of the Boards of Directors of EAPRC and EADPC. Pursuant to the requirements of the Revised Securities Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. cdlex EAST ASIA POWER RESOURCES CORPORATION By: (SGD.) J. ILDEBRANDO B. AMBROSIO Assistant Corporate Secretary