Bacnotan Cement Corporation

November 8, 1999 PSE CIRCULAR FOR BROKERS NO. 2838-99 SUBJECT : Bacnotan Cement Corporation Further to Circular No. 2470-99 dated October 1, 1999, Bacnotan Cement Corporation ("BCC") furnished the Exchange a copy of its Amended Preliminary Information Statement, together with the Plan of Merger among BCC, Hi Cement Corporation and Davao Union Cement Corporation, in connection with its Annual Stockholders' Meeting which will be held on November 23, 1999 , at 2:00 p.m., at the Grand Ballroom, New World Renaissance Hotel Esperanza St., corner Makati Avenue, Makati City. The agenda of the meeting shall be as follows 1. Call to order 2. Proof of notice and determination of quorum 3. Minutes of previous meeting 4. Annual Report of Management 5. Plan of merger prcd 6. Change of Accounting Period 7. Change of Date of Annual Stockholders' Meeting 8. Election of Directors cdlex 9. Appointment of Auditors cdlex 10. Other Matters 11. Adjournment As previously announced, stockholders of record as of October 22, 1999 are entitled to notice of, and to vote at, said meeting. A copy of BCC's Amended Preliminary Information Statement including the Plan of Merger among BCC, Hi Cement Corporation and Davao Union Cement Corporation is available for reference at the PSE Centre and PSE-Plaza Libraries. LibLex For your information. cdlex (SGD.) MARIA ISABEL T. GARCIA OIC, Listing and Disclosure Group