Republic Cement Corporation — Results of Special Stockholders' Meeting

March 9, 1998 PSE CIRCULAR FOR BROKERS NO. 322-98 SUBJECT : Republic Cement Corporation Results of Special Stockholders' Meeting Posted on March 6, 1998 This is in connection with Circular No. 146-98 dated January 27, 1998 pertaining to the acceptance by Republic Cement Corporation (RCM) of the offer of South Western Cement Ventures, Inc., a local joint venture company between Blue Circle Industries PLC of England and the Yuchengco Group, to invest in RCM by way of non-assignable term bonds. RCM informed the Exchange, in a letter dated March 6, 1998, that instead of issuing non-assignable term bonds in favor of South Western Cement Ventures, Inc., RCM issued last February 19, 1998 a non-assignable and non-negotiable promissory note convertible into 200,000,000 RCM common shares after 14 days from date of issue until maturity on February 18, 2001. The issuance of the common shares in the event of conversion of the note was approved by the stockholders in a special meeting on March 5, 1998. For your information. (SGD.) MARIA ISABEL T. GARCIA Head, Listings & Disclosures Group