Philippine Stock. Exchange, Inc.

March 19, 1998 PSE CIRCULAR FOR BROKERS NO. 414-98 March 17, 1998 Philippine Stock. Exchange, Inc. PSE Centre, Exchange Road Pasig City Attention : Listing and Disclosure Group Gentlemen : Further to our letter of March 6, 1998, xerox copy of which is hereto attached for your ready reference, please be informed that the regular annual meeting of the stockholders of Philex Corporation will be held at the Function Modules, ABCD, 4th Floor, Manila Galleria Suites, ADB Avenue, Ortigas Center, Pasig City on Thursday, June 25, 1998 at 2:00 P.M. As previously reported, for the purpose of the meeting, only stockholders of record at the close of business on March 25, 1998 will be entitled to vote thereat. The Stock and Transfer Book of this Corporation will be closed from March 26, 1998 to April 3, 1998, inclusive. We will send you later printed copies of our Notice of Annual Meeting of Stockholders for posting on your bulletin board. prLL Very truly yours, PHILEX MINING CORPORATION (SGD.) GREGORIO S. IMPERIAL, JR. Corporate Secretary March 6, 1998 PHILIPPINE STOCK EXCHANGE 12th Floor, PSE Centre Exchange Road, Pasig City Attention : Listing and Disclosure Group Gentlemen : Please be informed that the regular annual meeting of the stockholders of Philex Mining Corporation is tentatively set on Thursday, June 25, 1998. The time and place of the annual stockholders meeting will be announced later. For the purpose of the meeting, only stockholders of record at the close of business on March 25, 1998 will be entitled to vote thereat. The Stock and Transfer Book of this Corporation will be closed from March 26, 1998 to April 3, 1998, inclusive. We will send you later printed copies of our Notice of Annual Meeting of Stockholders stating the exact date, time and place of the said meeting for posting on your bulletin board. Very truly yours, PHILEX MINING CORPORATION (SGD.) GUADAFLOR C. MALONZO Assistant Corporate Secretary