PSE Circular for Brokers No. 431-00

February 22, 2000 PSE CIRCULAR FOR BROKERS NO. 431-00 February 21, 2000 PHILIPPINE STOCK EXCHANGE, INC. Listing and Disclosure Group Philippine Stock Exchange Centre Exchange Road, Ortigas Center Pasig City Attention: Maria Isabel T. Garcia Gentlemen : Please be informed that the Special Meeting of Warrantholders of QUEENBEE RESOURCES CORPORATION scheduled on February 28, 2000 has been moved to May 05, 2000, Friday, 4:00 P.M. at Kalayaan Hall, Club Filipino, Greenhills, San Juan, Metro Manila, Philippines. LibLex Attached is the Notice of Postponement of Special Warrantholders Meeting sent to the warrantholders. Thank you. Very truly yours, QUEENBEE RESOURCES CORPORATION By: (SGD.) WILLIAM TAN UNTIONG Corporate Secretary NOTICE OF POSTPONEMENT OF SPECIAL WARRANTHOLDERS' MEETING Please be informed that the special Meeting of Warrantholders of QUEENBEE RESOURCES CORPORATION scheduled on February 28, 2000 has been moved to May 05, 2000, Friday, 4:00 P.M. at Kalayaan Hall, Club Filipino, Greenhills, San Juan, Metro Manila, Philippines. The Agenda for the meeting shall be as follows: 1. Call to Order; 2. Certification by the Corporate Secretary on the sending of notices and existence of a quorum; 3. To obtain the approval of the required number of Warrant Holders for the amendment of Condition 9 (iii) of the warrant instrument allowing Queenbee Resources to purchase Jollibee shares and/or warrants and/or both Jollibee shares and warrants to utilize the same in the distribution of additional warrants to warrant holders. 4. Transaction of such other matters as may properly come before the meeting; and 5. Adjournment. Registration starts at 3:00 P.M. Only warrantholders of record as of January 26, 2000 are entitled to vote and be voted during the meeting. For your convenience in registering your attendance, please have available some form of identification, such as your Community Tax Certificate, Passport, or Driver's License. For purposes of this postponement, please refer to the Definitive Information Statement sent to you on February 07, 2000. We are not soliciting your proxy However, you may attend the foregoing meeting by submitting a duly accomplished proxy in the form attached herewith. Pasig City, February 21. 2000. (SGD.) WILLIAM TAN UNTIONG Corporate Secretary PROXY KNOW ALL MEN BY THESE PRESENTS: That I, the undersigned warrantholder of QUEENBEE RESOURCES CORPORATION. do hereby nominate, constitute and appoint _______________as my true and lawful attorney-in-fact and proxy to represent me and vote all my shares registered in my name on the books of said corporation, in the special warrantholders meeting to be held on May 05, 2000 and any adjournments thereof, as fully to all intents and purposes as I might or could do if present in person, hereby ratifying and confirming any and all actions taken during any said meetings, or adjournments thereof. This proxy shall be valid for the above meeting only. or any adjournments thereof, unless withdrawn by me earlier through notice in writing delivered to the Corporate Secretary In case I shall be present at any particular meeting, or shall have given my proxy to another to represent me at any meeting, this proxy shall be deemed revoked. Dated this_______day of________, 2000. Signature __________________ Printed Name: _______( In case of corporation. this proxy must be signed by authorized signatories on file with the Transfer Agent) (Do Not Fill This Portion) No of Warrants Registered ________________ Signature (s),Verified By ________________