Bacnotan Consolidated Industries, Inc.

November 3, 1998 PSE CIRCULAR FOR BROKERS NO. 2499-98 SUBJECT : Bacnotan Consolidated Industries, Inc . Further to Circular No. 2151-98 dated September 16, 1998, Bacnotan Consolidated Industries, Inc. ("BCI") furnished the Exchange a copy of SEC Form 34-C (Definitive Information Statement) in connection with its Annual Stockholders' Meeting which will be held on , at 4:30 P.M., at the Ballroom 3 of the Dusit Hotel Nikko, Ayala Center, Makati City. The agenda for the said meeting shall be as follows: 1. Call to order 2. Proof of notice and determination of quorum 3. Minutes of previous meeting 4. Annual Report of Management 5. Election of Directors 6. Appointment of Auditors 7. Increase in Capital Stock / Stock Dividend 8. Amendment of Article VII of the Amended Articles of Incorporation 9. Management Contract 10. Other Matters 11. Adjournment Stockholders of record as of October 7, 1998 are entitled to notice of, and to vote at, said meeting. A copy of BCI's Definitive Information Statement is available for reference at the PSE Library and PSE-Plaza Administration Office. cdt For your information. (SGD.) RAFAEL L. LLAVE Chief Operating Officer