PSE Circular for Brokers No. 3041-99

November 29, 1999 PSE CIRCULAR FOR BROKERS NO. 3041-99 November 26, 1999 PHILIPPINE STOCK EXCHANGE Disclosure Department Listings and Disclosure Group 4/F Philippine Stock Exchange Center PSE Center, Exchange Road Ortigas Center, Pasig City Attention: Ms . Luisa W . Buenaventura Supervisor, Disclosure Department Gentlemen: Please be informed that in the Special Meeting of the Board of Directors of Ever Gotesco Resources and Holdings, Inc. (hereinafter "EVER") attended by a majority of the members of the Board of Directors, held this afternoon, November 26, 1999 at the Penthouse II, Ever Gotesco Corporate Center, 1958 C. M. Recto, Avenue, the excerpts thereof is quoted herinbelow: "The Corporate Secretary read before the members of the Board present a letter from the Chairman, Jose C. Go which is quoted as follows: November 25, 1999 The Board of Directors Thru the Corporate Secretary Ever Gotesco Resources and Holdings, Inc. Gentlemen: Please be informed that the undersigned Chairman of Ever Gotesco Resources and Holdings, Inc. ("EGRHI") have made some business commitments abroad which shall necessitate my physical presence. My absence in the country will run thru December 20 to 29, 1999. As the duly authorized officer representing Gotesco Properties, Inc., holding more than sixty percent (60%) of the total outstanding shares of EGRHI, I will not be able to attend the Annual Stockholders' Meeting of EGRHI scheduled on December 23, 1999, which meeting I want to be personally present. I believe that there will be no quorum in view of my expected absence on the scheduled December 23, 1999 Annual Stockholders' Meeting of EGRHI. Please undertake the necessary action to move the meeting to a later date at the Board's pleasure. LibLex Very truly yours, (SGD.) JOSE C. GO Chairman and President The Directors present ware unanimous in their opinion that with the expected absence of the authorized officer/representative representing about 60% of the total outstanding shares of the Corporation, no quorum can be mustered on December 23, 1999. After further discussions and on motion duly made and seconded, all the directors present unanimously approved that the Annual Stockholders' Meeting of EGRHI be moved to February 23, 2000." cdll EVER GOTESCO RESOURCES AND HOLDINGS, INC. (SGD.) VICENTE VILLA CANONEO Corporate Secretary