PSE Circular for Brokers No. 776-99

April 16, 1999 PSE CIRCULAR FOR BROKERS NO. 776-99 NOTICE OF ANNUAL STOCKHOLDERS' MEETING April 26, 1999 Please be notified that the Annual Meeting of Stockholders of Petron Corporation will be held on April 26, 1999, Monday at 9:00 a.m. at the Ballroom, 2nd Floor of Manila Midtown Hotel, Pedro Gil corner Adriatico Streets, Ermita , Manila, with the following Agenda: (1) Call to Order (2) Report on Attendance and Quorum (3) Review and Approval of Minutes of Previous Stockholders' Meeting (4) Management Report for the year 1998 (5) Ratification of all acts of the Board of Directors and Management during the year 1998 (6) Appointment of Independent Auditor (7) Election of the Board of Directors for the ensuing term (8) Such other business as may properly come before it. Minutes of the last Annual Stockholders' Meeting on July 20, 1998 will be distributed during registration. The Board of Directors has fixed the end of trading hours of the Philippine Stock Exchange (PSE) on February 26, 1999 as the record date to determine the stockholders entitled to notice and to vote at said annual meeting. Please bring your Notice and any form of identification i.e., driver's license; Company I.D., TIN Card; etc. to facilitate registration. Registration starts at 7:00 a.m. and closes at exactly 8:30 a.m. The meeting is expected to end at 11 a.m. (SGD.) LIBERADOR V. VILLEGAS Corporate Secretary