PSE Circular for Brokers No. 266-99

February 15, 1999 PSE CIRCULAR FOR BROKERS NO. 266-99 February 11 1999 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 at 10:00 a.m. today, 11 February 1999, the Board of Directors of Mariwasa, Manufacturing, Inc.(the "Corporation") unanimously approved the following: 1) acceptance of the resignation of Mr. Chalaluck Bunnag as a member of the Board of Directors of the Corporation; 2) the election of Mr. Kan Trakulhoon as a member of the Board of Directors to serve until the expiration of the term of Mr. Chalaluck Bunnags; LexLib 3) the election of Mr. Kan Trakulhoon, as the Vice Chairman of the Corporation to replace Mr. Dusit Nontanakom who shall remain as a member of the Board of Directors of the Corporation; 4) the setting of the Annual Meeting of Stockholders on 04 June 1999 with a record date of 07 May 1999. Very truly yours, (SGD.) ANTONIO A. PICAZO Corporate Secretary