San Miguel Corporation

April 12, 1999 PSE CIRCULAR FOR BROKERS NO. 719-99 SUBJECT : San Miguel Corporation Further to Circular for Brokers No. 168-99 dated January 29, 1999, San Miguel Corporation ("SMC") furnished the Exchange a copy of its SEC Form 34-A (Definitive Proxy Statement) in connection with its Annual Stockholders' Meeting which will be held on May 5, 1999 , at 2:00 P.M. at the Isla Ballroom of the EDSA Shangri-La Hotel, 1 Garden Way, Ortigas Center, Mandaluyong City. The agenda for the meeting shall be as follows: 1. Certification of Notice and Quorum. 2. Approval of the Minutes of the Regular Stockholders' Meeting held on April 21, 1998 and Minutes of the Special Stockholders' Meeting held on November 12, 1998. Cdphil 3. Presentation of Annual Report. 4. Report on Investment of Corporate Funds. 5. Ratification of Acts and Proceedings of the Board of Directors and Corporate Officers. 6. Approval of 10% Stock Dividend. 7. Appointment of External Auditors. 8. Election of Board of Directors. 9. Other Business. As previously announced, stockholders of record as of February 26, 1999 are entitled to notice of, and to vote at, said meeting. A copy of SMC's Definitive Proxy Statement is available for reference at the PSE Library and PSE-Plaza Administration Office. For your information. (SGD.) JOSE LUIS U. YULO, JR. President and CEO