Personnel Movement Resignations

February 4, 1998 PSE MEMO FOR BROKERS NO. 052-98 SUBJECT : Personnel Movement Resignations PERIOD COVERED : January 1, 1 998 January 31, 1998 NAME OF POSITION EFFECTIVITY PREVIOUS EMPLOYEE EMPLOYER MA. LOURDES RAMOS Accounting Clerk January 12, 1998 A & A Securities KATHRYN ROSE REIDENBACK Agent January 12, 1998 Abacus Securities KATHRYN MARY ROY Customer Service Supervisor January 10, 1998 Abacus Securities CHERYLL VIVAR Documentation Staff December 19, 1997 Abacus Securities MA. CRISTINA SANTOS Telephone Clerk December 24, 1997 Alpha Securities WILFREDO SUAREZ Messenger January 15, 1998 Alpha Securities MELINDA TY Settlement Assistant January 14, 1998 Alpha Securities JOSE IVAN JUSTINIANO Nominee December 31, 1997 Amsteel Securities EDWARD ANTHONY VELASCO Settlements Assistant December 31, 1997 Amsteel Securities HILARIO AGUIRRE Accounting Clerk December 31, 1997 Angping & Associates ROLANDO CANILLO Janitor December 31, 1997 Angping & Associates JAMES CHENG Analyst November 8, 1997 Angping & Associates VIVIEN DE LOS REYES Secretary December 31, 1997 Angping & Associates STEVEN ESPINAS Investment Analyst October 29, 1997 Angping & Associates MA. CARLOTA MATILDE GARCIA Analyst December 31, 1997 Angping & Associates CHARLIE MALAPIT Accounting Clerk November 8, 1997 Angping & Associates FELICE FAYE MARCO Corplan Assistant December 31, 1997 Angping & Associates HERMINIA ORTEGA Compliance Assistant December 31, 1997 Angping & Associates ALFONSO REYES Senior Sales Officer November 1, 1997 Angping & Associates WILFRED SON KENG PO Managing Director November 15, 1997 Angping & Associates RACHEL TRIJO Dividend Clerk November 15, 1997 Angping & Associates CARLOS YLAGAN AVP Sales December 31, 1997 Apex Philippines DOMINGO GALLARDO Driver December 31, 1997 Apex Philippines GREGORIO ALVA Management Trainee January 3, 1998 Apex Philippines OH TEIK HAI President/Chief Exec. Officer December 15, 1997 Apex Philippines MARY GRACE SALUNGA Operations Officer November 24, 1997 Apex Philippines SUHARTO SINAPAL Driver November 24, 1997 Apex Philippines IMELDA ANGULO-ANDALES Assistant Manager-Cebu December 15, 1997 BPI Securities ROGELIO CELESTINO MIC Manager December 5, 1997 Capitol Securities One JUAN MACEDA Sales Head December 31, 1997 Citicorp MENCHIE ALVERO Secretary of Vice President December 31, 1997 Connell Securities EDWIN CRUZ Nominee July 15, 1997 Connell Securities EVELYN PAPA Disbursement Assistant January 5, 1998 Connell Securities FRITZIE LAWAS Accounts Assistant September 30, 1997 Connell Securities KATRINA PABUSTAN Analyst November 27, 1997 Credit Lyonnais HONORIO PASCUAL Dealer January 8, 1998 Credit Lyonnais PHIL CARLTON Research Analyst December 12, 1997 DBP-Daiwa MAYO J. B. ONGSINGCO Executive Director December 8, 1997 Deutsche Morgan HELARIO LERIN Driver December 31, 1997 Deutsche Morgan MA. CORAZON RUSSELL Executive Secretary December 31, 1997 Deutsche Morgan GERARDO CAPUTOLAN Securities Settlements Assistant January 13, 1998 Dharmala Securities CHEMERIE CHENG Junior Analyst January 13, 1998 Dharmala Securities JEHNNY CHING Treasury Manager January 13, 1998 Dharmala Securities BENEDICT DE BORJA Research Assistant January 13, 1998 Dharmala Securities JONALYN DELIMA Treasury Clerk January 13, 1998 Dharmala Securities MAE DREU Securities Settlement Assistant January 13, 1998 Dharmala Securities CAROLINE GANZA Administrative Asst.-Bacolod January 29, 1998 Dharmala Securities ROWENA MAGLONZO Accounting Assistant January 13, 1998 Dharmala Securities AMABELLE MALLARI Research Assistant January 13, 1998 Dharmala Securities BENJAMIN ONG, JR. Authorized Clerk January 13, 1998 Dharmala Securities LEONORA PALMA Accounting Clerk January 13, 1998 Dharmala Securities HERMINIA TAN Senior Accountant January 13, 1998 Dharmala Securities ERICSON WEE First Vice President-Operations January 13, 1998 Dharmala Securities ARNEL ABELIDO Senior Trader-Bacolod Br. December 31, 1997 Dharmala Securities LARA JOAN SABORNAY Trader-Bacolod Br. February 1, 1998 Dharmala Securities JERRY ONGTAUCO Salesman December 29, 1997 G. D. Tan & Co. VIVIAN SUPERA Contractual Data Encoder December 6, 1997 GK Goh Securities MARISSA CRUZ Investment Analyst December 15, 1997 GK Goh Securities JENNIFER DOLOM Receptionist December 24, 1997 Indosuez W. I. Carr GERARD RALPH QUA Telephone Clerk December 16, 1997 Investor Securities VICENTE TAN Nominee December 11, 1997 Keppel Securities ENRIQUE TOBIAS Head Monitoring/Compliance January 2, 1998 Kim Eng Securities ESPERANZA CASUGA Treasury Assistant January 10, 1998 Magnum International ADELAIDA PANGANTIHON Accountant December 12, 1997 Market Capital Sec. SALVIN BUENA Network Administrator December 29, 1997 Mercantile Securities EMELINA DEL ROSARIO Research Assistant December 31, 1997 Meridian Securities ALFRED DE GUZMAN Head of Research December 31, 1997 Meridian Securities SHELLDON MONROY Motorized Messenger January 5, 1998 Meridian Securities JOSEPH EVANGELISTA Motorized Messenger January 5, 1998 Meridian Securities MANUEL ANTONIO LISBONA Authorized Clerk/lnstitutional January 15, 1998 Meridian Securities Accounts Officer JULIETA OGALESCO General Clerk December 15, 1997 Orion-Squire Capital JENNYLYND SANTIAGO Authorized Clerk July 30, 1997 Pacific Asia Securities MA. CHRISTINA AGLIPAY Accounting Clerk August 31, 1997 Pacific Asia Securities REGINA MANZANO Research Analyst November 27, 1997 Philippine Asia Equity RAFAEL PEAFLOR, JR. Trader November 1, 1997 PCCI Securities JOSE RUEL LAMPA Messenger December 31, 1997 Peregrine Securities ANTONIO DIAZ Messenger December 31, 1997 Peregrine Securities MICHAEL GOTERA Senior Analyst December 31, 1998 Peregrine Securities BENNY DORMITORIO Janitor / Messenger December 31, 1997 Peregrine Securities MARYPEL QUILALA Transfer Assistant December 31, 1997 Peregrine Securities JOSE EDSER TRINIDAD Analyst December 31, 1997 Peregrine Securities RICHARD ALLEN PUEN Analyst December 31, 1997 Peregrine Securities RAMON VIOLA Sales Agent December 31, 1997 Peregrine Securities ALFREDO PADUA Consultant December 31, 1997 Philippine TA CHRISTIAN JOSEPH CALIMBAS Marketing Assistant December 15, 1997 Philippine TA ALEXANDER LEE Sales Manager December 15, 1997 Philippine TA WILSON YABUT ASO II October 30, 1997 PNB Securities SHIRLEY ESPINOSA ASO II November 30, 1997 PNB Securities CHERYL DURAN Data Encoder November 30, 1997 Public Securities RODANTE JACINTO Securities Clerk November 30, 1997 Public Securities RONALD QUINTANA Transfer/Settlements Clerk November 30, 1997 Public Securities ISRAELI BRONDIAL Head-Marketing & Research December 29, 1997 Public Securities LAWRENCE ORCA IT Executive December 31, 1997 Rashid Hussain BERNARD TANEGA Salesman January 14, 1998 R. S. Lim & Co. MARTINA LANDICHO Cashier November 21, 1997 Sapphire Securities ANTONIO CHING Driver December 9, 1997 Sapphire Securities PACIFICO ALDANA Gen. Administrative Assistant December 31, 1997 Sapphire Securities RICKY AZNAR Dividends Processor December 31, 1997 Sapphire Securities EDUARDO BANTAYAN Messenger December 31, 1997 Sapphire Securities LENI BELEN Dividends Processor December 31, 1997 Sapphire Securities JEREMIAS DIMBLA II Asst. Vice President December 31, 1997 Sapphire Securities SAMSON LEE Manager December 31, 1997 Sapphire Securities JANUAR MANALILI Transfer Clerk December 31, 1997 Sapphire Securities ALEX MEJIA Encoder December 31, 1997 Sapphire Securities EDUARDO PADUGAR Messenger December 31, 1997 Sapphire Securities TIBURCIO PANGANTIHON Messenger December 31, 1997 Sapphire Securities NOLI TAN Encoder December 31, 1997 Sapphire Securities CESAR VALERIO Messenger December 31, 1997 Sapphire Securities MARIANNE VINAS Accounts Monitoring Clerk December 31, 1997 Sapphire Securities HERMINIO OZAETA Director November 28, 1997 SBC Warburg GEORGIA GUIANG Investment Analyst January 22, 1998 Socgen-Crosby EUGENIO LOARCA Research Administrator January 22, 1998 Socgen-Crosby HAZEL PARIAL Filing Clerk January 22, 1998 Socgen-Crosby CHONA CORONADO Transfer/Dividends Clerk January 22, 1998 Socgen-Crosby ESTRELLITA LOPEZ Controller January 22, 1998 Socgen-Crosby JANET VILLAREAL Assistant Cashier January 22, 1998 Socgen-Crosby ROLANDO DE GUZMAN Messenger January 22, 1998 Socgen-Crosby JOLIBERT SEMILLON Driver / Messenger January 22, 1998 Socgen-Crosby JOAN VERONICA MURAO Operator / Receptionist January 22, 1998 Socgen-Crosby CYNTHIA GUINTO Office Administrator January 22, 1998 Socgen-Crosby MARLOW SAN JUAN Office Assistant January 22, 1998 Socgen-Crosby MA. LOURDES ALEJANDRE Institutional Sales Person January 15, 1998 Socgen-Crosby J. EDMOND GARCIA Institutional Sales Person January 15, 1998 Socgen-Crosby MONA LIZA FLORA Clerk / Typist January 2, 1998 Solar Securities FRANCISCO TUAZON Messenger January 2, 1998 Solar Securities ANNA MARIA GONZALEZ Account Executive December 1, 1997 Sun Hung Kai JOHN FRANCIS PECANA Research Investment Analyst December 31, 1997 Sun Hung Kai ANGELINA LOPEZ Sales Agent December 23, 1997 Sun Hung Kai ANTONIO BALLARAN Driver December 31, 1997 Sun Hung Kai JOEL GREGORIO Motorized Messenger November 30, 1997 The First Resources JOSEPHINE MAMARADLO Jr. Accounting Officer December 15, 1997 The First Resources ALBERT GARCIA Messenger December 31, 1997 Tower Securities VICTOR TUBAL Messenger December 31, 1997 Tower Securities STEPHEN SEVIDAL Head-Research November 30, 1997 UOB Securities OLIVER REYES Research Assistant January 9, 1998 Unicapital Securities NIDA SANTOS Director December 22, 1997 Urbancorp Securities MELISSA BALTAZAR Prod. Mgr. / Research Asst. October 31, 1997 Vickers Ballas Sec. Above-mentioned personnel were issued clearances to join another member-firm by their previous employers. For your information and guidance. (SGD.) JOSE LUIS U. YULO, JR. President & Chief Executive Officer