Atlas Fertilizer Corporation

October 20, 1999 PSE CIRCULAR FOR BROKERS NO. 2689-99 SUBJECT : Atlas Fertilizer Corporation Atlas Fertilizer Corporation (FER) informed the Exchange that the Securities and Exchange Commission (SEC) approved on October 13, 1999 its Amended Articles of Incorporation, reflecting the following amendments: 1. Change in name from Atlas Fertilizer Corporation to Leisure & Resorts World Corporation (Article I). 2. Change in the primary purpose to leisure and resort, and realty development and the deletion in the secondary purposes of references to agricultural activity/ies or those relating to and in pursuant of FER's agricultural activity/ies (Article II). 3. The denial of pre-emptive rights of stockholders and the declassification of FER's shares by eliminating the "A" and "B" classification thereof (Article VII). The change in name of the Corporation to Leisure & Resorts World Corporation and the change in its sector to Hotel, Recreation and Other Services will be reflected in the Exchange's computer system (electronic board and ticker) on Friday, October 22, 1999 . However, the declassification of the Corporation's shares will not yet be reflected in the Exchange's computer system and the stock trading symbol remains unchanged pending further advice from the Corporation of the new stock trading symbol and the status of the conversion of its old certificates into new ones reflecting the declassification . For your information. (SGD.) MA. ISABEL T. GARCIA OIC, Listing & Disclosure Group