Petrofields Corporation

November 24, 1999 PSE CIRCULAR FOR BROKERS NO. 2997-99 SUBJECT : Petrofields Corporation Further to Circular for Brokers No. 2821-99 dated 5 November 1999, Petrofields Corporation ("PET") furnished the Exchange a copy of its SEC Form 34-A (Definitive Proxy Statement), including its Audited Financial Statements for fiscal year ending 31 December 1998, in connection with its Special Stockholders' Meeting which will be held on 14 December 1999 , at 3:00 p.m., at the Fairways Dining Room of Manila Golf Club, Makati City. The order of business at said meeting shall be as follows: 1. Proof of the required notice of the meeting 2. Proof of the presence of a quorum cdll 3. Approval of the Minutes of the Annual Stockholders' Meeting held on 15 April 1999 LexLib 4. Amendment of Article First of the Amended Articles of Incorporation for the purpose of changing the name of Petrofields Corporation LexLib 5. Incorporation of a Subsidiary to acquire all the capital stock of Mapua Institute of Technology 6. Readoption of the reduction in authorized capital stock of Petrofields Corporation cdlex 7. Acceptance of deposits for future Stock Subscription from various investors 8. Amendment of Article Seventh of the Amended Articles of Incorporation for the purpose of increasing the authorized capital stock from One Hundred Million Pesos (P100,000,000.00) to Two Billion Pesos (P2,000,000,000.00) 9. Other Business As previously announced, stockholders of record as of 17 November 1999 are entitled to notice of, and to vote at, said meeting. The stock and transfer books of the company will not be closed. Validation of proxies is scheduled on 9 December 1999 at 9:00 a.m. at the principal office of the corporation. A copy of PET's Definitive Proxy Statement, including its 1998 Audited Financial Statements, is available for reference at the PSE Centre and PSE-Plaza Libraries. For your information. LexLib (SGD.) MARIA ISABEL T. GARCIA OIC, Listing and Disclosure Group