PSE Circular for Brokers No. 2525-99

October 6, 1999 PSE CIRCULAR FOR BROKERS NO. 2525-99 October 5, 1999 PHILIPPINE STOCK EXCHANGE, INC . Philippine Stock Exchange Center Exchange Road, Ortigas Center Pasig City, Metro Manila Attention: Ms . Grace B . de Guia Assistant Manager Disclosure Department Gentlemen: In response to your query dated 5 October 1999 regarding the news articles captioned "Atlas Fertilizer said to be target of gaming firm" and "Speculators active as Atlas Fertilizer is reported being eyed by 2 Tan's interest" published in the October 5, 1999 issues of the Business World and Today, respectively, wherein 3 investors namely Bingo Bonanza, Lucio Tan and Dante Tan were rumored to have shown interest in Atlas Fertilizer Corporation (the "Corporation"), we advise that the Corporation has no discussions with either Lucio Tan or Dante Tan and we are unaware of any information indicating their interest in the Corporation. We confirm, however, that the Corporation is negotiating with certain shareholders of the company operating the Bingo Bonanza games in SM and other malls. But as indicated in our previous disclosures dated 1 October 1999 and 4 October 1999, no definitive agreement has been signed and negotiations are still in the preliminary stages. We likewise advise that Long view Holdings Corp., which own 63% of the Corporation is not a shareholder of Bingo Bonanza as has been speculated in the Business World article. LibLex With the foregoing, we trust that we have sufficiently replied to your query. Very truly yours, (SGD.) EDELINE G. RAMOS Corporate Secretary