PASTRA Fees

July 28, 1998 PSE CIRCULAR FOR BROKERS NO. 1757-98 SUBJECT : PASTRA Fees This refers to the letter of Dir. Elizabeth Martin of SEC dated 8 July 1998 directing PASTRA "to reimburse the brokers the overcharges you have collected in the registration and cancellation fees" and "to revert to the old rates of the said fees immediately". In a meeting of PSE with PASTRA and as confirmed by a letter of their legal counsel to SEC a copy of which was furnished the Exchange, PASTRA declared that the 17 June 1998 decision of the Court of Appeals in CA-G.R. SP No. 41320, which was made the basis of Dir. Martin's letter, is not yet final. On 9 July 1998, PASTRA filed a motion for reconsideration. It also reiterated its commitment to refund when ordered by the authorities " arising from the proper legal proceedings ". In the meantime, PASTRA has disregarded the above SEC order of 8 July 1998. Lexlib For your information. The Exchange will advise member-brokers accordingly of any further development. (SGD.) JOSE LUIS U. YULO, JR. President & CEO