Bogo-Medellin Milling Co., Inc.

November 4, 1998 PSE CIRCULAR FOR BROKERS NO. 2516-98 SUBJECT : Bogo-Medellin Milling Co ., Inc . In connection with the request for the lifting of suspension on the trading of Bogo-Medellin Milling Co., Inc. ("BMM"), the company informed the Exchange that: ". . . in view of the prevailing economic crisis, the management of Bogo-Medellin Milling Co., Inc. has decided to indefinitely postpone its restructuring and expansion plans to invest in other opportunities and simply concentrate on its core business of sugar milling. Accordingly, the management of the Corporation will be withdrawing its petition for the Amendment of the Second Article (Primary Purpose Clause - change from sugar milling operations to a holding company) of its Articles of Incorporation filed with the Securities and Exchange Commission and request for the return of all documents relative thereto. . . " In view of the foregoing, the suspension on the trading of the BMM's shares is hereby lifted effective November 4, 1998 . For your information. (SGD.) RAFAEL L. LLAVE Chief Operating Officer