Keppel Philippines Marine, Inc.

October 27, 1999 PSE CIRCULAR FOR BROKERS NO. 2760-99 SUBJECT : Keppel Philippines Marine, Inc . Keppel Philippines Marine, Inc. ("KPM") informed the Exchange that the Securities and Exchange Commission (SEC) approved on October 25, 1999 its Amended Articles of Incorporation, particularly the amendment to Article VII, reflecting the increase in its authorized capital stock from One Billion Nine Hundred Thirty Million Pesos (P1,930,000,000.00), divided into One Billion Nine Hundred Thirty Million (1,930,000,000) shares with a par value of One Peso (P1.00) per share, to Two Billion One Hundred Eighty Million Pesos (P2,180,000,000.00), divided into Two Billion One Hundred Eighty Million (2,180,000,000) shares with a par value of One Peso (P1.00 ) per share. Relative thereto, the SEC fixed November 11, 1999 as the record date for the stockholders entitled to the 6% stock dividend declared by the Board of Directors on June 16, 1999 and approved by the stockholders on June 18, 1999. prcd For your information. STOCK DIVIDEND STOCK DIVIDEND - 6% EX-STOCK - November 5, 1999 RECORD DATE - November 11, 1999 (SGD.) MARIA ISABEL T. GARCIA OIC, Listing and Disclosure Group