PSE Circular for Brokers No. 257-99

February 12, 1999 PSE CIRCULAR FOR BROKERS NO. 257-99 SECURITIES AND EXCHANGE COMMISSION SEC FORM 11-C CURRENT REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND RSA RULE 11(a)-1(b)(3) THEREUNDER 1. Date Report (Date of earliest event reported) 10 February 1999 2. SEC Identification No. 60566 3. BIR Tax Identification No. 004-504-2281-VAT 4. Exact name of registrant as specified in its charter: EAST ASIA POWER RESOURCES CORPORATION (formerly Northwest Holdings & Resources Corporation) 5. Philippines Province, country or other jurisdiction of incorporation 6. (SEC use Only) Industry Classification Code: 7. 20th Floor OMM-CITRA Condominium, San Miguel Avenue, Pasig City 1605 Address of principal office Postal Code 8. (632) 633-1626 Registrant's telephone number, including area code 9. Not Applicable Former name or former address, if changed since last report 10. Securities registered pursuant to Sections 4 and 8 of the RSA: Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding Common 846,000,000 Outstanding Shares US$33,595,000,00 and PhP17,400,000.00 in Outstanding Debt 11. Indicate the item numbers reported herein: Item No. 4 12. Report on Item No. 4 Resignation of Registrant's Directors or Officers The Board of Directors of East Asia Power Resources Corporation ("EAPRC" or the "Company"), wishes to inform the Securities & Exchange Commission ("SEC") and the Philippine Stock Exchange, Inc. ("PSE") that, in a special meeting of the Board of Directors called for such purpose, the resignations of the following directors and officer were received by the remaining members of the Board of Directors, to wit: Name Position Date Resigned Johannes B. Kotjo Honorary Chairman/Director 02.02.1999 Freddie K. C. Heng Director 02.02.1999 Jose S. Alejandro Director/President 02.11.1999 Jose C. Reyes Director 02.11.1999 and the following persons were elected by the remaining Board members to fill the vacancies, to serve in such capacity until their successors shall have been duly elected and qualified in the 1999 Annual Stockholders' Meeting, to wit: Name Position Richard H. Weiss Director David G. Gray Director David M. Veiseh Director/President Simon A. Melhem Director The Board of Directors also elected Mr. Richard H. Weiss to the office of Chief Executive Officer, which has been vacant since the 24 June 1998 Annual Stockholders' Meeting of the Company. Pursuant to the requirements of the Revised Securities Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. LLphil EAST ASIA POWER RESOURCES CORPORATION By: (SGD.) J. ILDEBRANDO B. AMBROSIO Assistant Corporate Secretary