PSE Circular for Brokers No. 2542-98

November 6, 1998 PSE CIRCULAR FOR BROKERS NO. 2542-98 05 November 1998 PHILIPPINE STOCK EXCHANGE 4/F Philippine Stock Exchange Center PSE Center, Exchange Road, Ortigas Center, Pasig City Metro Manila Attention: Mr . Reynold T . Ong Listing and Disclosure Group Gentlemen : We disclose that at a regular meeting of the Board of Directors held today, 05 November 1998, the Board of Directors of Mariwasa Manufacturing, Inc. (the "Corporation") resolved to amend Article Seventh of the Amended Articles of Incorporation of the Corporation to increase the authorized capital stock of the Corporation from One Billion Pesos (PhP 1,000,000,000.00) to One Billion Five Hundred Million Pesos (PhP 1,500,000,000.00) divided into One Billion Five Hundred Million (1,500,000,000) Common Shares with a par value of One Peso (PhP 1.00) per share. The purpose of the increase in authorized capital stock is to enable the Corporation to raise equity to reduce debt. For the purpose of approving this amendment to increase the Authorized capital stock of the Corporation, the Board of Directors of the Corporation has unanimously approved a special stockholders' meeting to be held on 16 December 1998 at 3:00 p.m. at the office of the Corporation, Mariwasa Compound, Ortigas Avenue Extension, Bo. Rosario, Pasig City. The record date for this special stockholders meeting is on 18 November 1998. Very truly yours, (SGD.) MARTIN ANTONIO A. LACDAO Assistant Corporate Secretary