PSE Circular for Brokers No. 297-99

February 18, 1999 PSE CIRCULAR FOR BROKERS NO. 297-99 SECURITIES AND EXCHANGE COMMISSION SEC FORM 11 - C CURRENT REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND RSA RULE 11(a)-1(b)(3) THEREUNDER 1. 16 February 1999 (11 February 1999) Date of Report (Date of earliest event Reported) 2. SEC Identification Number 42543 3. BIR Tax Identification No. 000-196-724 4. AGP INDUSTRIAL CORPORATION Exact name of registrant as specified in its charter 5. Philippines Province, country or other jurisdiction of incorporation 6. [ ] (SEC Use Only) Industry Classification Code: 7. 3rd Floor, SGV I Building, 6760 Ayala Avenue, Makati City 1200 Address of principal office Postal Code 8. (632) 816-4683; 817-2360; Registrant's telephone number, including area code 9. Former Name or former address, if changed since last report 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 Common Shares 18,326,349 shares subscribed and fully paid 11. Indicate the items reported herein: Item 9 (L) This disclosure pertains to Trans-Philippines Investment Corporation (TPIC), a majority stockholder of AGP Industrial Corporation (AGPI). As reported in the newspapers (one of which is the Philippine Star dated February 11, 1999), SEC granted TPIC thirty-day (30-day) relief from its P450M debt due to cash flow problem. However, TPIC assured its creditors that its problems were temporary and that its real estates properties and other assets estimated to be worth P780 M were more than enough to cover its liabilities. SIGNATURES 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. LLphil AGP INDUSTRIAL CORPORATION Registrant (SGD.) HIRAM C. MENDOZA Corporate Secretary