PSE Circular for Brokers No. 715-99

April 12, 1999 PSE CIRCULAR FOR BROKERS NO. 715-99 April 8, 1999 PHILIPPINE STOCK EXCHANGE, INC . Disclosure Department Listing and Disclosure Group 4th Floor, Philippine Stock Exchange Centre, Exchange Road, Ortigas Center, Pasig City, Metro Manila Attention: Mr . Reynaldo P . Ong Vice-President Gentlemen : Notice is hereby given that at the special meeting of the Board of Directors of A Brown Company, Inc. ("ABCI") held on 8 April 1999, wherein a quorum was present and voting, the Board of Directors postponed the Special Stockholders' Meeting on 15 April 1999 to 11 May 1999 by approving the following resolution: "RESOLVED, that the Special Stockholders' Meeting on 15 April 1999 called for the purpose of submitting for the consideration and approval of the stockholders the proposed merger of the Corporation and its subsidiaries namely, A Brown Chemical Corporation, Geoex Farms, Inc., East Pacific Investors Corporation, Terra Asia Pacific Development Managers, Inc. and Victorsons Trans Cargo Systems, Inc., and the amendment to Article Third of the Articles of Incorporation changing the principal office to Tanay, Rizal, be postponed to 11 May 1999." Please be guided accordingly. Very truly yours, (SGD.) OLIVA P. PEDERE Acting Corporate Secretary