PSE Circular for Brokers No. 2885-99

November 12, 1999 PSE CIRCULAR FOR BROKERS NO. 2885-99 ASIAN TERMINALS, INCORPORATED Securities and Exchange Commission Form 11-C Current Report Under Section 11 of the Revised Securities Act (RSA) and RSA Rule 11-(a)-1(b)(3) thereunder 1. Date of Report November 11, 1999 2. SEC Identification Number 133653 3. BIR Tax Identification No. 033-000-132-413-V 4. Exact name of registrant as specified in its charter ASIAN TERMINALS, INC. 5. Province, Country or other jurisdiction of incorporation Manila, Philippines 6. Industry Classification Code (SEC Use Only) 7. Address of principal office/postal code Muelle de San Francisco, South Harbor, Port Area, Manila 8. Registrant's telephone number/area code 527-80-51 to 81 9. Former name or former address, if changed since last report N/A 10. Securities registered pursuant to Sections 4 and 8 of the RSA Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding Capital stock common 2,000,000.00 Long Term Commercial Papers P1,500,000.00 11. Indicate the item numbers reported herein: Item 9 Other Events JOINT VENTURE AGREEMENT COVERING THE NORTH HARBOR The International Container Terminal Services, Inc. (ICTSI), Asian Terminals, Inc. (ATI) and North Harbor Management and Development Corporation (NHMDC), which is affiliated with domestic shipping lines using the North Harbor facilities, have formalized and signed a Joint Venture Agreement. They agreed to establish a joint venture corporation which will offer a proposal for the Philippine Ports Authority (PPA) for the rehabilitation, development, management and operation of the North Harbor under the Build-Operate-and-Transfer (BOT) law. ASIAN TERMINALS, INCORPORATED Securities and Exchange Commission Form 11-C Current Report Under Section 11 of the Revised Securities Act (RSA) and RSA Rule 11-(a)-1(b)(3) thereunder Pursuant to the requirements of the Revised Securities Act, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Registrant ASIAN TERMINALS, INC. Signature and Title (SGD). ATTY. RODOLFO G. CORVITE, JR. Corporate Secretary Date November 11, 1999