Republic Cement Corporation Additional Listing

March 27, 1998 PSE CIRCULAR FOR BROKERS NO. 527-98 SUBJECT : Republic Cement Corporation Additional Listing Please be informed that on September 4, 1997, the Exchange approved subject to the actual exercise of the warrants, the listing application of REPUBLIC CEMENT CORPORATION (the "Company") to list 63,284,628 common shares, with a par value of P1.00 per share, to cover the 40% stock dividend due to warrantholders of record as of April 18, 1996. Likewise, on January 12, 1998, the Exchange approved 489,984,950 common shares, with a par value of P1.00 per share, consisting of 405,900,843 common shares covering the 50% stock dividend due to stockholders of record as of November 28, 1997, on the issued and outstanding shares and 84,084,107 common shares representing the 50% stock dividend on the 120,120,153 underlying common shares of the unexercised warrants and the latter's corresponding 40% stock dividend. The approval, however, of the 84,084,107 common shares is subject to the actual exercise of the said warrants. In connection with this, please be advised that from March 13 to March 20, 1998, the Company has received notice from warrantholders for the exercise of 1,464,599 warrants. These warrantholders are entitled to a total of 1,611,054 common shares consisting of 585,838 common shares and 1,025,216 common shares to cover the 40% and 50% stock dividend declarations, respectively. LLjur Furthermore, the Company's stock transfer agent, Arsel Development Corporation, shall issue stock certificates for fractional shares resulting from the declaration of stock dividends. Said fractional shares shall then be offered for sale in the market, the proceeds of which shall be divided proportionately to the affected shareholders. In view of this, please be informed that a total of 4.90 common shares will likewise be listed. This consists of 1.60 common shares and 3.30 common shares corresponding to the fractional shares of the 40% and 50% stock dividend for warrants exercised for the period March 13 to March 20, 1998, respectively. In view thereof, the listing of the 1,611,058 . 90 common shares is set for Monday, April 6, 1998 . LibLex For your information and guidance. (SGD.) MARIA ISABEL T. GARCIA Head, Listing and Disclosure Group