Seafront Resources Corporation Effectivity Date of Trading Based on Reduced Number of Shares

December 11, 1998 PSE CIRCULAR FOR BROKERS NO. 2760-98 SUBJECT : Seafront Resources Corporation Effectivity Date of Trading Based on Reduced Number of Shares Further to Circular No. 2660-98 dated November 25, 1998, please be informed that the Floor Trading and Arbitration Committee and the Board of Governors of the Exchange has agreed to the new effectivity date, as set by SEAFRONT RESOURCES CORPORATION (the "Company") , of the trading of its reduced shares to be on November 26, 1998 . Trades and holdings of participants of the Philippine Central Depository, Inc. prior to the November 26, 1998 shall be at the original unadjusted number of shares. As further required by the Exchange, the Company was asked to inform the Securities and Exchange Commission (the "SEC") of the said effectivity date. The Exchange was recently furnished a copy of the Company's letter to the SEC. In this regard, trading halt on the Company's shares will be lifted on Tuesday, December 15, 1998 . On the same day, the reduced shares shall be reflected on the records of the Exchange. Further, the ceiling and floor price limits for the Company's shares shall not be in effect for the next two (2) trading days to allow the market to determine its new market price. aisadc For your information and guidance. (SGD.) JOSE LUIS U. YULO, JR. President and CEO