BW Resource Corporation

December 16, 1999 PSE CIRCULAR FOR BROKERS NO. 3210-99 SUBJECT : BW Resource Corporation Further to Circular for Brokers No. 3195-99 dated December 15, 1999, BW Resource Corporation ("BW"') furnished the Exchange a copy of its SEC Form 34-A (Amended Definitive Proxy Statement), including its Audited Financial Statements for fiscal year ended December 31, 1998, in connection with its Annual Stockholders' Meeting which will be held on December 23, 1999 , at 3:00 p.m., at the Grand Ballroom, Manila Diamond Hotel, Roxas Boulevard corner Dr. J. Quintos, Ermita, Manila. LexLib As previously announced, stockholders of record as of November 16, 1999 are entitled to notice of, and to vote at said meeting. Stockholders who cannot attend the meeting may send a proxy, but the same must be received by the Corporate Secretary at the 10th Floor Chatham House, 116 Valero corner Herrera Streets, Salcedo Village, Makati City not later than December 23, 1999. Validation of proxies shall be held on December 20, 1999 at the office of the Corporation's stock transfer agent, Stock Transfer Service, Inc. at the G/F Asianbank Center, Sen. Gil Puyat Avenue, Salcedo Village, Makati City. cdlex A copy of BW's Amended Definitive Proxy Statement, including its 1998 Audited Financial Statements, is available for reference at the PSE Centre and PSE-Plaza Libraries. For your information. (SGD.) MARIA ISABEL T. GARCIA OIC, Listings and Disclosure Group