Fortune Cement Corporation

December 21, 1999 PSE CIRCULAR FOR BROKERS NO. 3251-99 SUBJECT : Fortune Cement Corporation Further to Circular for Brokers No. 3232-99 dated December 17, 1999, Fortune Cement Corporation ("FCC") informed the Exchange, in a letter dated December 17, 1999, of additional information on its integration of operations with Republic Cement Corporation ("RCM"), Zeus Holdings, Inc. ("ZHI") and Iligan Cement Corporation: cdll . . . The Integration . . . did not contemplate a-merger as provided for in the Corporation Code. It will only involve the exchange of shares in Fortune Cement Corporation, Zeus Holdings, Inc. and Iligan Cement Corporation by their respective shareholders for fully paid-up new shares or convertible loan notes (the "Exchange") in Republic Cement Corporation ("Republic"). To enable Republic to proceed with the Exchange, its Board of Directors yesterday scheduled a special stockholders' meeting for this purpose on February 14, 2000. The Exchange will be done in accordance with the previously disclosed swap ratios and all regulatory requirements as may be applicable to Fortune Cement Corporation and to the other companies. Thus, depending on when all the necessary regulatory requirements have been fulfilled, it is not possible at this time to give a definite date when the Exchange will be completed. It is estimated though that the process will commence in January 2000 and be completed within the first half of next year. We shall keep you informed of further details relating to the Integration as they develop. . . . In view thereof, the trading suspension of FCC shares shall be lifted today, December 21, 1999. cdll For your information. (SGD.) MARIA ISABEL T. GARCIA OIC, Listings & Disclosure Group