Reynolds Philippines Corporation

March 25, 1998 PSE CIRCULAR FOR BROKERS NO. 480-98 SUBJECT : Reynolds Philippines Corporation Reynolds Philippines Corporation ("RPC") furnished the Exchange on March 25, 1998 a copy of SEC Form 34-A (Preliminary Proxy Statement) in connection with its Annual Stockholders' Meeting which will be held at the Orchard Golf and Country Club, Aguinaldo Alvarez Trias Function Room, Aguinaldo Highway, Dasmarinas, Cavite Province, Philippines, on Thursday, May 28, 1998 at 10:00 a.m. cdlex The agenda for the meeting shall be as follows: 1. Call to Order 2. Proof of Presence of a Quorum 3. Approval of previous Minutes of the Meeting of the Stockholders 4. Approval of the 1997 Annual Report a. Report of the President on the Results of Operations for the year 1997 5. Ratification of all acts of Management and the Board for the period of June 1997 to May 1998 6. Approval of the Financial Statement 7. Election of Directors 8. Re-appointment of Auditor 9. Other Matters 10. Adjournment Stockholders of record as of May 8, 1998 are entitled to notice of, and to vote, at the said meeting. A copy of RPC's SEC Form 34-A is available for reference at the PSE Library. LLphil For your information. (SGD.) MA. ISABEL T. GARCIA Head, Listing and Disclosures Group