Petron Implements Organizational Changes

January 19, 1999 PSE CIRCULAR FOR BROKERS NO. 083-99 January 18, 1999 PETRON IMPLEMENTS ORGANIZATIONAL CHANGES Petron is implementing organizational changes to streamline the company's operations in response to the competitive pressures of the marketplace. In a move that follows changes made over the last three years in its organization, Petron has completed the integration of its supply chain. This places responsibility for the whole Petron supply system, from crude procurement to product delivery to customers, in the Supply division. Formerly, product distribution was handled by the Marketing division, while crude procurement was handled by Supply. Last March, product distribution to the bulk plants was transferred to Supply. In the latest change, the remaining distribution functions were also moved to Supply. The now seamless supply chain will result in more optimal crude and product inventory management for the company. aisadc The new Supply division will be headed by Celso L. Legarda. Motassim Al-Maashouq will take Legarda's place as Vice President for Marketing, while Walter A. Tan will take over as Vice-President for Corporate Planning.