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Separation from Office — No Clearance Issued

PSE Memo for Brokers No. 127-98 • Philippine Stock Exchange • Memo for Brokers • Mar 9, 1998

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March 9, 1998 PSE MEMO FOR BROKERS NO. 127-98 SUBJECT : Separation from Office No Clearance Issued MEMBER-FIRM : I . B. Gimenez Securities, Inc. I . B . GIMENEZ SECURITIES, INC . has informed the Exchange on March 4, 1998 that the following employees are no longer connected with the company: 1. MR. IMRAN KHALILI Research Analyst February 9, 1998 2. MR. MICHAEL GOTACO Asst. Research Analyst February 16, 1998 3. MR. NOEL SENTILLAS Messenger February 28, 1998 4. MR. JOSEPH YU AP Officer March 1, 1998 5. MR. RICHARD GONZALES Messenger March 4, 1998 The company has not issued clearances in favor of Messrs . Khalili, Gotaco, Sentillas, Yu and Gonzales to join another member-firm. For your information and guidance. (SGD.) JOSE LUIS U. YULO, JR. President & Chief Executive Officer

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