Basic Consolidated, Inc.

April 29, 1999 PSE CIRCULAR FOR BROKERS NO. 924-99 SUBJECT : Basic Consolidated, Inc. Basic Consolidated, Inc. ("BSC") furnished the Exchange a copy of its SEC Form 34-A (Definitive Proxy Statement), with the 1998 Annual Report, in connection with its Annual Stockholders' Meeting which will be held on May 28, 1999, at 3:00 p.m., at the Grand Ballroom of Shangri-La Hotel, Makati City. The agenda for the meeting shall be as follows: 1. Call to Order 2. Proof of Notice of Meeting 3. Proof of Presence of Quorum 4. Presentation and Approval of Minutes 5. Presentation and Approval of 1998 Annual Report 6. Election of 11 Directors 7. Other Matters 8. Adjournment Stockholders of record as of April 28 , 1999 are entitled to notice of, and to vote, at, said meeting. dctai A copy of BSC's Definitive Proxy Statement, including its 1998 Annual Report, is available for reference at the PSE Library and PSE-Plaza Administration Office. For your information. Very truly yours, (SGD.) JOSE LUIS U. YULO, JR. President and CEO