PSE Circular for Brokers No. 2495-98

November 3, 1998 PSE CIRCULAR FOR BROKERS NO. 2495-98 CURRENT REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND RSA RULE 11(a)-1(b)(3) THEREUNDER 1. October 1, 1998 Date of Report (Date of earliest event reported) 2. SEC Identification Number 808 3. BIR Tax ID No. 000-162-935V 4. ITOGON-SUYOC MINES, INC. Exact name of registrant as specified in its charter 5. MANILA, PHILIPPINES Province, country or other jurisdiction of incorporation 6. (SEC Use Only) Industry Classification Code 7. ROOM 701 ORTIGAS BUILDING, ORTIGAS AVENUE, PASIG CITY 1600 Address registrant's principal office Postal Code 8. (02) 631-27-52 Registrant's telephone number, including area code 9. N.A. Former name, former address and former fiscal year, if changedsince last report 10. Securities registered pursuant to Sections 4 and 8 of the RSA Title of each class Number of shares of common stock outstanding and amount of debt outstanding No. of Shares Amount Common A 3,600,000,000 P36,000,000.00 Common B 2,399,931,710 23,999,317.10 Total Issued 5,999,931,710 23,999,317.10 Treasury Stock (5,115,990) (122,847.31) Issued and Outstanding 5,994,815,720 P59,876,469.79 11. Indicate the item numbers reported herein: Item 4 Item 4. Resignation. Removal or Election of Registrant's Directors or officers (a) Death of Mr. Luis M. Alberto, member of the Board of Directors of Itogon-Suyoc Mines, Inc. (b) Resignation of Mr. Froilan C. Gervasio as Executive Vice President of Itogon-Suyoc Mines, Inc. effective October 1, 1998. Excerpts from September 15, 1998 minutes of Board of Directors' meeting: "5.3 Resignation of Mr. Froilan C. Gervasio as EVP and Board Member The Chairman informed the Board regarding the resignation of Mr. Froilan C. Gervasio as Executive Vice President and as a member of the Board. He will nevertheless be asked to work as consultant of the Company and will also be asked to stay in the Board. With the resignation of Mr. Gervasio, the Chairman indicated that Mr. Mansueto C. Gilladoga, Jr. will be appointed as Officer-in-Charge." (c) Resignation of Mr. Antonio B. Dimaano, Vice President for Operations of Itogon-Suyoc Mines, Inc., effective October 1, 1998. By: (SGD.) JOSE ERNESTO C. VILLALUNA, JR. Vice Chairman