PSE Circular for Brokers No. 2603-99

October 13, 1999 PSE CIRCULAR FOR BROKERS NO. 2603-99 October 11, 1999 Philippine Stock Exchange Center Exchange Road, Ortigas Center Pasig City Attention: Ms . Grace de Guia Assistant Manager Disclosure Department Gentlemen: In the meeting held today, 11 October 1999, the Board of Directors of MUI Resources Philippines, Inc. approved, among others, the following: 1. The declaration of a cash dividend equivalent to 4.25% of the par value per share to be taken from the Corporation's retained earnings as of 31 July 1999 and to be distributed to all stockholders of record as of 22 October 1999. Payment of the same shall be on 2 November 1999; 2. The resignation of Atty. Victoria C. de los Reyes as Director and Corporate Secretary of the Corporation; and 3. The election of Atty. Federico G. Noel, Jr. as member of the Board and Corporate Secretary to replace Ms. de los Reyes, to serve as such for the remainder of her term and until the election and qualification of her successor. Should you wish further clarification on any of the matters, please let us know. CASH DIVIDEND CASH - P0.0425 EX-CASH - October 18, 1999 RECORD DATE - October 22, 1999 DATE PAYABLE - November 2, 1999 Very truly yours, (SGD.) ANNA MELISSA L. ROSARIO Assistant Corporate Secretary