Davao Union Cement Corporation

March 5, 1999 PSE CIRCULAR FOR BROKERS NO. 414-99 SUBJECT : Davao Union Cement Corporation Davao Union Cement Corporation ("DUC") informed the Exchange, in a letter dated March 4, 1999, that the Securities and Exchange Commission (SEC) approved on February 26, 1999 its Amended Articles of Incorporation, particularly the amendment to Article VII, reflecting the increase in its authorized capital stock from P3,000,000,000 . 00 , divided into 2,000,000,000 common shares and 1,000,000,000 preferred shares, to P7,000,000,000 . 00 , divided into 6,000,000,000 common shares and 1,000,000,000 preferred shares, both with a par value of P1.00 per share. Out of the said increase in capital stock, 25% thereof or P1,000,000,000.00 worth of shares, consisting of 1,000,000,000 common shares, has been subscribed and has been paid by way of deposit for future subscription of Union Cement Corporation. For your information. (SGD.) JOSE LUIS U. YULO, JR. President and Chief Executive Officer