Personnel Movement-New Appointments

March 9, 2000 PSE MEMO FOR BROKERS NO. 075-00 SUBJECT : Personnel Movement-New Appointments PERIOD COVERED : February 1, 2000-February 29, 2000 FROM MEMBER FIRMS: NAME OF PREVIOUS PRESENT EMPLOYEE POSITION EFFECTIVITY EMPLOYER EMPLOYER KENNETH NERECINA Research Analyst February 1, 2000 Asiasec Abacus MANUEL YU VP/COO/Auth. Clerk February 14, 2000 Wellex Coherco RODOLFO PREN General Manager/Chief January 1, 2000 Angping Coherco Compliance Officer/ Tel. Clerk LORETO BALABIS Settlement Officer February 3, 2000 Orion-Squire Coherco NORBERTO IGNACIO Settlement Assistant February 3, 2000 Sun Hung Kai Coherco AMELIA SUBILLAGA Authorized Clerk February 7, 2000 Rizal Coherco LUISITO BAGUIO Telephone Clerk February 4, 2000 Kerry Coherco ROWLAND RAVELA Messenger/Collector January 17, 2000 Topwin Coherco JENNIFER LUY Investment Analyst January 31, 2000 SG Credit Lyonnais JOSE SALAK Telephone Clerk February 24, 2000 Pierce Fortune JOSEPHINE DE LEON Investment Counselor January 17, 2000 Magnum GK GERALD BALDIVIA Senior Analyst January 16, 2000 ATR-Kim Eng SG JESUS GALAROSA Authorized Clerk January 18, 2000 Pierce S.J. Roxas MA. IRENE BERNAL Executive Secretary December 1, 1999 Sun Hung Kai Topwin AURORA FELIZARDO Head-Personnel & December 15, 1999 Topwin re-hired Admin./Compliance Head DAINILO BONIFACIO Central Buyer December 15, 1999 Sun Hung Kai Topwin LORNA PARADERO Settlements Head December 15, 1999 Sun Hung Kai Topwin SUSAN CONLU Chief Accountant December 27, 1999 Sapphire Topwin ARMINA EMPENO VP-Head of Sales February 1, 2000 Sun Hung Kai Topwin YANG WAI AVP-Sales February 1, 2000 Pierce Tower Above-mentioned personnel have been issued clearances by their former employers to join another member-firm. For your information and guidance. (SGD.) JOSE LUIS U. YULO, JR President & Chief Executive Officer