Southeast Asia Cement Holdings, Inc.

November 23, 1998 PSE CIRCULAR FOR BROKERS NO. 2630-98 SUBJECT : Southeast Asia Cement Holdings, Inc . Southeast Asia Cement Holdings, Inc. ("CMT"), informed the Exchange, in a letter dated November 19, 1998 of the following approvals and months granted by the Securities and Exchange Commission (SEC) with respect to its application for increase in authorized capital stock and 6% stock dividend declaration: 1. Approval of the Amended Articles of Incorporation to reflect the increase in its authorized capital stock from P6.150 Billion to P7.300 Billion; 2. Authority of CMT to distribute 305,810,000 shares with a par value of P1.00 per share to cover the 6% stock dividend declared by its Board of Directors on April 27, 1998 and ratified by the stockholders on June 24, 1998; 3. Issuance of shares of stock to stockholders of record as of December 11, 1998 as fixed by the SEC, in an Order dated November 11, 1998. In relation thereto, CMT applied for exemption from registration under the Revised Securities Act for the issuance of the P305,810,000.00 worth of shares of stock to cover the above stock dividend. aisadc For your information. STOCK DIVINED UPDATE STOCK 6% EX-STOCK December 7, 1998 RECORD DATE December 11, 1998 (SGD.) JOSE LUIS U. YULO, JR. President and CEO