PSE Circular for Brokers No. 3096-99

December 6, 1999 PSE CIRCULAR FOR BROKERS NO. 3096-99 December 3, 1999 Philippine Stock Exchange Disclosure Department Listing and Disclosure Group 4th Floor, Philippine Stock Exchange Centre Exchange Road, Ortigas Center Pasig City Attention: Ms . Grace B . de Guia Assistant Manager Gentlemen: Please be advised that at today's meeting, the Board of Directors of San Miguel Corporation ("SMC") passed and approved the following resolutions on: 1. the declaration of a cash dividend of twenty centavos (P0.20) to all stockholders of record as of December 29, 1999, payable on January 28, 2000 and closing of transfer books from December 30, 1999 to January 14, 2000; 2. the 200 Regular Stockholders Meeting to be held on April 11, 2000 at 2:00 p.m. at the Westin Philippine Plaza Hotel; 3. the record date for stockholders entitled to vote at the Regular Stockholders Meeting which is on February 8, 2000 and closing of transfer books will be on February 9, 2000 to March 13, 2000; 4. the deadline for nominations for the Board of Directors which is on March 28, 2000. llcd For your information. Very truly yours, SAN MIGUEL CORPORATION By: (SGD.) FRANCIS H. JARDELEZA Senior Vice President-General Counsel and Assistant Corporate Secretary