PSE Circular for Brokers No. 747-98

April 22, 1998 PSE CIRCULAR FOR BROKERS NO. 747-98 TO : All Stockholders DATE : April 6, 1998 Notice is hereby given that the 1996 Annual Meeting of the stockholders of SOUTH CHINA PETROLEUM & EXPLORATION, INC. shall be held on May 08, 1998 at 2:00 p.m. at The Peninsula Manila, corner Ayala and Makati Avenues, Makati City. The Agenda for said meeting is as follows: 1. Proof of notice and quorum; 2. Reading and approval of previous Minutes; 3. Report of Management; 4. Ratification of the acts of the Board of Directors and Others; 5. Approval of amendment to the Corporation's Articles of Incorporation changing the corporate name; 6. Election of Directors; 7. Appointment of Auditors; 8. Other Matters; and 9. Adjournment. For the purpose of the meeting, only stockholders of record at the close of business on April 18, 1998 shall be entitled to notice of and to vote at the meeting. The Stock and Transfer Book of the Corporation shall be closed from April 18, 1998 to May 8, 1998. LLpr (SGD.) JAIME M. BLANCO, JR. Corporate Secretary