PSE Circular for Brokers No. 2528-99

October 6, 1999 PSE CIRCULAR FOR BROKERS NO. 2528-99 October 5, 1999 PHILIPPINE STOCK EXCHANGE Disclosure Department Listings and Disclosure Group 4/F Philippine Stock Exchange Center PSE Center, Exchange Road Ortigas Center, Pasig City Attention: Ms . Luisa W . Buenaventura Supervisor, Disclosure Department Gentlemen: Pleased be inform that in the special meeting of the Board of Directors of Ever Gotesco Resources and Holdings, Inc. (hereinafter "EVER") attended by a majority of the members of the Board of Directors, held this noon, October 5, 1999 at the Penthouse II, Ever Gotesco Corporate Center, 1958 C. M. Recto, Avenue, Manila, the following resolution were passed and approved: "In view of the time constraint in the preparatory works needed such as printing of the annual report and other documents, submission of the needed information to secure approval of certain requirements for the meeting and time frame in the collation and mailing of notices to about 7,000 stockholders with accompanying reports/documents to stockholder which are needed before the annual stockholders' meeting can be held, the Board of Directors unanimously approved the proposal of Management to further move the Annual stockholders' Meeting previously re-scheduled to October 29, 1999, be re-scheduled further to December 23, 1999." The Board also noted and approved the request of the President contained in a letter addressed to the Board of Directors seeking the notation and approval by the Board of Directors of the Corporation relative to various inter-company transactions consisting of advances to and advances from between the Corporation, its subsidiary and affiliates during the current period which is expected to continue up to the end of the calendar year to enable balance servicing of the conglomerate's cash requirements. cdll EVER GOTESCO RESOURCES AND HOLDINGS, INC. By: (SGD.) VICENTE VILLA CANONEO Corporate Secretary