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Separation from Office — No Clearance Issued

PSE Memo for Brokers No. 039-98 • Philippine Stock Exchange • Memo for Brokers • Jan 28, 1998

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January 28, 1998 PSE MEMO FOR BROKERS NO. 039-98 SUBJECT : Separation from Office No Clearance Issued MEMBER-FIRM : OCBC Securities Philippines, Inc. OCBC SECURITIES PHILIPPINES, INC . has informed the Exchange on January 23, 1998 that its Junior Analyst, MR . ARIEL AYA-AY is no longer connected with the company effective January 23, 1998. LLjur The company has not issued any clearance in favor of Mr . Aya-ay to join another member-firm. For your information and guidance. (SGD.) JOSE LUIS U. YULO, JR. President & Chief Executive Officer

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