PSE Circular for Brokers No. 2733-98

December 9, 1998 PSE CIRCULAR FOR BROKERS NO. 2733-98 December 8, 1998 PHILIPPINE STOCK EXCHANGE Disclosure Department Listings and Disclosure Group 4/F Philippine Stock Exchange Center PSE Center, Exchange Road Ortigas Center, Pasig City Attention: Ms . Luisa W . Buenaventura Supervisor, Disclosure Department Gentlemen : Please be informed that in the Special Meeting of the Board of Directors of Ever Gotesco Resources and Holdings, Inc. (hereinafter "EVER") attended by a majority of the members of the Board of Directors, held this noon, December 8, 1998 at the Board Room of Ever Gotesco Corporate Center, 1958 C. M. Recto, Avenue, Manila, the following resolutions were passed and approved: "RESOLVED, that the Board of Directors of the Corporation hereby authorizes Mr. George C. Go to secure from ABM Realty Corporation, represented by Atty. Restituto Mendoza for a cash advance of not more than P2 Million Pesos, which amount shall be paid to Ms. Rosario Kaw to secure all the needed documentation requested by the prospective buyer. The said amount of P2 Million Pesos shall be deducted from the purchase price of the Calamba Mall. In the event that the sale of the aforecited property shall not materialize, the cash advance shall be deemed forfeited and the Corporation shall not be liable for the same amount; aisadc RESOLVED, FURTHER, that this resolution is in furtherance of the resolution of November 9, 1998 by the Board of Directors of the Corporation authorizing Mr. George C. Go to negotiate for the sale of the Calamba Mall situated at Barangay Real, Calamba, Laguna; RESOLVED, FINALLY, that the Board of Directors of the Corporation hereby authorize the Corporate Secretary to issue any and all the needed enabling resolutions to fully implement the aforecited approvals." Very truly yours, (SGD.) VICENTE VILLA CAONEO Corporate Secretary