JG Summit Holdings, Inc. Final Offer Price, Number of Offer Shares and Work Program covering the 1:2 Stock Rights Offering

May 7, 1998 PSE CIRCULAR FOR BROKERS NO. 969-98 SUBJECT : JG Summit Holdings, Inc. Final Offer Price, Number of Offer Shares and Work Program covering the 1:2 Stock Rights Offering Further to Stock Rights Notice No. 816-98, please be informed that the Exchange received a copy of SEC Form 11-C containing a disclosure on the approval by the Board of Directors of JG SUMMIT HOLDINGS, INC. (the "Company") on May 6, 1998 of the final offer price, number of offer shares and work program pertaining to the 1:2 Stock Rights Offering, to wit: Offer Shares 2,060,921,728 shares Offer Price P2.25/share Work Program The net proceeds of the Stock Rights Offering, estimated to be P4,510,592,547.64 based on 2,060,921,728 offer shares, after deduction of the applicable taxes, fees and expenses related to the Offering amounting to P126,481,340.36, will be used to finance construction and expansion programs of its three subsidiaries namely, JG Summit Petrochemical Corporation, APO Cement Corporation and Universal Robina Corporation. The proposed breakdown is as follows: cdt Percentage Amount JG Petrochemical Corporation 50% P2,255,296,273.82 APO Cement Corporation 30% 1,353,177,764.29 Universal Robina Corporation 20% 902,118,509.53 TOTAL 100% P4,510,592,547.64 For your information and guidance. (SGD.) REYNOLD P. ONG Vice President, Listings and Disclosure Group