Seafront Resources Corporation

May 5, 1999 PSE CIRCULAR FOR BROKERS NO. 977-99 SUBJECT : Seafront Resources Corporation Further to Circular for Brokers No. 713-99 dated April 12, 1999, Seafront Resources Corporation ("SPM") 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 14, 1999 , at 2:00 P.M. at the Old Gymnasium, Manila Polo Club, McKinley Road, Forbes Park, Makati City. The order of business of said meeting will be as follows: 1. Certification of Services of Notice; 2. Determination of Quorum/Call to Order; 3. Approval of the Minutes of the last Stockholders' Meeting held on 6 May 1998; 4. Approval of Management Report and the 1998 Audited Financial Report; 5. Confirmation and Ratification of all acts, contracts and investments made and entered into by Management and/or Board of Directors during the period of 6 May 1998 to 14 May 1999; 6. Proposed Assignment of Oil Assets; 7. Approval of Management Contract with Petrofields Corporation; 8. Election of Nine (9) members of the Board of Directors for the year 1999-2000; 9. Appointment of External Auditors; 10. Other Matters Stockholders of record as of April 14, 1999 are entitled to notice of, and to vote at, said meeting. A copy of SPM'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