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Separation from Office — No Clearance Issued

PSE MEMO FOR BROKERS NO. 035-99 • Philippine Stock Exchange • Memo for Brokers • Jan 22, 1999

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January 22, 1999 PSE MEMO FOR BROKERS NO. 035-99 SUBJECT : Separation from Office No Clearance Issued MEMBER-FIRM : PNB Securities, Inc. PNB SECURITIES, INC. has informed the Exchange on January 20, 1999 that its Administrative Assistant, MS. ALMA P. BALCENA, is no longer connected with the company effective December 31, 1998. The company has not issued any clearance in favor of Ms. Balcena to join another member-firm. For your information and guidance. (SGD.) JOSE LUIS U. YULO, JR. President & Chief Executive Officer

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