Personnel Movement — New Appointments

March 1, 1999 PSE MEMO FOR BROKERS NO. 104-99 SUBJECT : Personnel Movement New Appointments PERIOD COVERED : February 1, 1999 - February 28, 1999 FROM MEMBER FIRMS: NAME OF PREVIOUS PRESENT EMPLOYER POSITION EFFECTIVITY EMPLOYER EMPLOYER ANTONIO ALFAJORA Agent/ February 2, 1999 Connell All AsiaSecurities Independent Stockbroker RAFAEL JUAN CHUIDIAN Sales Agent January 4, 1999 Kim Eng ATR MA. ARACELI PONO Accounting Staff January 25, 1999 Apex ATR MICHAEL EDWARD JACOB Sales Executive February 1, 1999 BZW Indosuez W.l. Carr JAIME ANGELO DE CASTRO Sales Agent January 2, 1999 Jaka (re-hired) PLACIDO MIRANDA Sales Agent January 2, 1999 Jaka (re-hired) JO-ANN VILVESTRE Credit & Collection February 1, 1999 Philippine TA Keppel Supervisor CHRISTOPHER JOHN ZAMORA Institutional Sales February 15, 1999 Amsteel Lippo Executive ZENAIDA BAUTISTA Settlements Officer December 16, 1998 Philippine TA PJB Pacific RUFO PALAD, JR. Messenger February 16,1999 Wellex (re-hired) 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