PSE Circular for Brokers No. 849-99

April 26, 1999 PSE CIRCULAR FOR BROKERS NO. 849-99 April 21, 1999 Philippine Stock Exchange PSE Centre, Exchange Road Ortigas Center, Pasig City Attention: Ms . Grace De Guia Assistant Manager Disclosures Department Securities and Exchange Commission SEC Building EDSA, Greenhills Mandaluyong City Attention: Brokers and Exchange Department RE : Annual Meeting of Stockholders Gentlemen : Please be advised that, in accordance with the by-laws of the Corporation, the Board of Directors of ORIENTAL PETROLEUM AND MINERALS CORPORATION has scheduled the regular annual meeting of the stockholders of the Corporation on Monday, May 31, 1999, at 5 : 00 P . M . , at Amorsolo Ballroom, 4th Floor, Galleria Suites, ADB Avenue, Pasig City , and set the record date of the meeting on the close of business hours on Friday, April 23, 1999 . Only stockholders of record as of the record date will be entitled to notice of, and to vote at, the meeting. Cdphil Very truly yours, (SGD.) ETHELWOLDO E. FERNANDEZ Corporate Secretary NOTICE OF THE REGULAR ANNUAL MEETING OF THE STOCKHOLDERS NOTICE IS HEREBY GIVEN that the Annual Meeting of the stockholders of ORIENTAL PETROLEUM AND MINERALS CORPORATION will be held at Amorsolo Ballroom, 4th Floor, Galleria Suites, ADB Avenue, Pasig City, on Monday, 31 May 1999, at 5 : 00 P . M . , pursuant to the resolution of the Board of Directors adopted in accordance with the By-Laws. The agenda of the meeting is as follows: I. Call to order II. Proof of Due Notice and Determination of Quorum III. Approval of minutes IV. Reports of officers/Approval of the Annual Report V. Elections of Directors VI. Other matters or businesses as may properly come before the meeting VII. Adjournment Proxies on file with the Corporation will be recognized and/or used unless they have lapsed or have been specifically revoked or a new proxy is received by the Corporation. Proxies must be filed with and received at the Corporation's office not later than by the close of business hours, five (5) working days prior to the date of meeting, viz., not later than 5:00 P.M. on May 24, 1999. Proxies received after the cut-off date shall not be recorded for this meeting. LLpr Validation of proxies will begin on May 24, 1999 at 5:00 P.M. at the office of the Corporation. Pursuant to Article II, Section 6, par. 2 of the By-Laws, only nominations for the position of director received by the Corporate Secretary at least five (5) working days before the stockholders' meeting, i.e., not later than 5:00 P.M. on May 24, 1999, shall be considered. Only stockholders of record as at the close of business hours on Friday, April 23, 1999, shall be entitled to notice of, and to vote at, this meeting. LexLib Makati City, Metro Manila, April 12, 1999. (SGD.) ETHELWOLDO E. FERNANDEZ Corporate Secretary