Atlas Fertilizer Corporation

October 22, 1999 PSE CIRCULAR FOR BROKERS NO. 2702-99 SUBJECT : Atlas Fertilizer Corporation This is with reference to Circular for Brokers No. 2689-99 dated October 20, 1999 pertaining to the Securities and Exchange Commission's approval of Atlas Fertilizer Corporation's (FER) Amended Articles of Incorporation, particularly the amendment to Article VII reflecting the declassification of FER's shares by eliminating its "A" and "B" classification. Please be advised that FER, in its letter to the Exchange, " . . . has decided to treat the issued and existing stock certificates of the Corporation as declassified without requiring the shareholders to surrender the certificates previously issued to them. Otherwise stated, the issued and outstanding stock certificates will not be cancelled and replaced and will continue to be recognized by the Corporation. We shall, however, duly inform you once the new certificates bearing its new name and eliminating the "A" and "B" classification are printed and available for use. . . ." In view thereof, please be informed that the declassification of FER will be reflected in the computer system (electronic board and ticker) on Tuesday, October 26, 1999. For your information. (SGD.) MA. ISABEL T. GARCIA OIC, Listings & Disclosure Group