International Container Terminal Services, Inc.

March 27, 1998 PSE CIRCULAR FOR BROKERS NO. 517-98 SUBJECT : International Container Terminal Services, Inc . International Container Terminal Services, Inc. ("ICT") furnished the Exchange on March 26, 1998 a copy of SEC Form 34-A (Proxy Statement), filed with the Securities and Exchange Commission on even date, in connection with its Annual Stockholders' Meeting which will be held on Thursday, April 16, 1998 at 10:00 a.m. at the Diamond Ballroom of the Manila Diamond Hotel, Roxas Boulevard, Manila. The agenda for the meeting shall be as follows: LibLex 1. Call to Order. 2. Determination of existence of quorum. 3. Welcome address of the Chairman of the Board. 4. Approval of the Minutes of the Annual Stockholders' Meeting held on April 17, 1997. 5. Report of the President. 6. Approval of the Report of the President. 7. Approval / Ratification of the acts, contracts, investments and resolutions of the Board of Directors and Management since the last Annual Meeting. 8. Appointment of external auditors. 9. Election of Directors. 10. Other matters. 11. Adjournment. Stockholders of record as of March 10, 1998 are entitled to notice and to vote at the said meeting. A copy of ICT's SEC Form 34-A is available for reference at the PSE Library and PSE-Plaza Administration Office. For your information. (SGD.) MA. ISABEL T. GARCIA Head, Listing and Disclosures Group