PSE Circular for Brokers No. 2497-98

November 3, 1998 PSE CIRCULAR FOR BROKERS NO. 2497-98 ASIAN TERMINALS, INCORPORATED Securities and Exchange Commission Form 11-C October 28, 1998 1. October 28, 1998 Date of Report 2. SEC Identification Number 133653 3. BIR Tax Identification No. 033-000-132-413-V 4. ASIAN TERMINALS, INC. Exact name of registrant as specified in its charter 5. Manila, Philippines Province, Country or other jurisdiction of incorporation 6. Industry Classification Code (SEC Use Only) 7. Muelle de San Francisco, South Harbor, Port Area, Manila Address of principal office/postal code 8. Registrant's telephone number/area code 527-80-51 to 81 9. N/A Former name or former address, if changed since 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 Capital stock - common 1,000,000,000 Long Term Commercial Papers P1,500,000,000 11. Indicate the item numbers reported herein: Item 4 Resignation, Removal or Election of Registrant's Directors or Officers During the Company's Annual Stockholders' Meeting held at about 2:00 p.m. on 22 October 1998, wherein stockholders representing at least two-thirds (2/3) of the outstanding capital stock were present in person or represented by proxy, 7 out of 9 directors were elected, namely: Capt. Richard Setchell, Eusebio H. Tanco, Seiichi Takada, Richard D. Barclay, Roland U. Young, Nilo B. Pea, and Douglas L. LuYm. Prior to the meeting, two former directors, namely, (Ret.) Gen. Lisandro C. Abadia and Manuel M. Lopez, signified their intention not to be re-elected. The declination to stand for re-election was not due to a disagreement with the Company on any matter relating to the Company's operations, policies or practices. LexLib Item 9 Other events During the said Annual Stockholders' Meeting, the shareholders also confirmed the appointment of SGV & Co. as independent auditors. 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 thereunto duly authorized. ASIAN TERMINALS, INC. Registrant (SGD.) ATTY. RODOLFO G. CORVITE, JR. Corporate Secretary