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Separation from Office — No Clearance Issued

PSE Memo for Brokers No. 009-98 • Philippine Stock Exchange • Memo for Brokers • Jan 14, 1998

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January 14, 1998 PSE MEMO FOR BROKERS NO. 009-98 SUBJECT : Separation from Office No Clearance Issued MEMBER-FIRM : Connell Securities, Inc. CONNELL SECURITIES, INC . has informed the Exchange on January 9, 1998 that the following employees are no longer connected with the company effective December 31, 1997: 1. MR. DAVID ABELARDO Messenger 2. MR. ROGER GALLEGO Messenger 3. MR. ANDY MABINI Messenger 4. MR. GEORGE MABINI Messenger 5. MR. MARIONITO POLO Messenger 6. MR. CARLITO TAGHAP Messenger The company has not issued any clearance in favor of the above-mentioned employees. For your information and guidance. cdt (SGD.) JOSE LUIS U. YULO, JR. President & Chief Executive Officer

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