Aboitiz Equity Ventures, Inc.

April 28, 1999 PSE CIRCULAR FOR BROKERS NO. 912-99 SUBJECT : Aboitiz Equity Ventures, Inc. Further to Circular No. 300-99 dated February 18, 1999, Aboitiz Equity Ventures, Inc. ("AEV) furnished the Exchange a copy of its SEC Form 34-C (Definitive Information Statement) in connection with its Annual Stockholders' Meeting which will be held on May 10 , 1999 , at 4:00 p.m., at the Ballroom, Cebu Marriott Hotel, Cebu City. The agenda for the meeting shall be as follows: 1. Call to Order 2. Proof of Notice of Meeting and Quorum 3. Reading and Approval of the Minutes of the Previous Stockholders' Meeting 4. Presentation of the Report of the President and of the Board of Directors 5. Ratification of the Acts, Resolutions and Proceedings of the Board of Directors, Corporate Officers and Management during the preceding year 6. Amendment of the Articles of Incorporation Increasing the Authorized Capital Stock and Providing for Preferred Shares and Waiver of Preemptive Rights 7. Election of External Auditors 8. Election of Directors 9. Other Business 10. Adjournment As previously announced, stockholders of record as of March 26, 1999 are entitled to notice of, and to vote, at, said meeting. LLphil A copy of AEV's Definitive Information 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