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Nasipit Lumber Company, Inc.

PSE MEMO FOR BROKERS NO. 238-99 • Philippine Stock Exchange • Memo for Brokers • Jul 13, 1999

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July 13, 1999 PSE MEMO FOR BROKERS NO. 238-99 SUBJECT : Nasipit Lumber Company, Inc . Further to Memo for Brokers No. 224-99 dated July 6, 1999 pertaining to Nasipit Lumber Company, Inc.'s ("NAS") non-compliance with the structured reportorial requirements of the Exchange due to non-payment of fines, please be informed that NAS is cleared of its obligations to the Exchange. Therefore, the trading of its shares shall not be halted today, July 13, 1999. cdpr For your information. (SGD.) JOSE LUIS U. YULO, JR. President and CEO

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