Personnel Movement — Re-Designation

March 31, 1999 PSE MEMO FOR BROKERS NO. 140-99 SUBJECT : Personnel Movement Re-Designation PERIOD COVERED : March 1, 1999 - March 31, 1999 NAME OF CONCURRENT*/PREVIOUS** EMPLOYEE POSITION RE-DESIGNATION EFFECTIVITY EMPLOYER D. ARNOLD CABANGON Asst. to the President/ President February 1, 1999 AAA Southeast Telephone Clerk** FLORANTE SOLOMON VP of Institutional Head of Research January 16, 1999 Abacus Sales-Foreign* * ARTHUR PINEDA Senior Analyst** Deputy Head-Research January 16, 1999 Abacus RENE DE LOS REYES Account Officer- OIC, Retail-Tektite January 16, 1999 Abacus Retail Sales** MA. AURORA DAYRIT Secretary* Trainee (Trading Floor) March 5, 1999 Aurora ARISTON RAMOS Sales Agent** Telephone Clerk March 1, 1999 HDI ERLINDA JOSE Accounting Assistant* Telephone Clerk March 15, 1999 Jaka LEONOR MEDINA Cashier* Telephone Clerk March 15, 1999 Jaka RUDSEND ALPAY AVP-Sales* Authorized Clerk February 11, 1999 Lippo NANCY SAN MATEO Marketing Assistant* Telephone Clerk February 16, 1999 Magnum PEAFLOR RAFAEL Dealer* Authorized Clerk March 3, 1999 Paribas Asia RODNEY LIM Trainee** Account Executive March 2, 1999 Securities 2000 XENIA AFABLE Settlements Staff* Telephone Clerk March 1, 1999 Securities 2000 ADRIENNE MARIE Telephone Clerk** Authorized Clerk January 29, 1999 Strategic JIMENEZ GEMMA MARIANO Sales Administration Account Executive/ February 1, 1999 Sun Hung Kai Officer** Telephone Clerk ARMINA EMPEO Sr. Sales Manager* Telephone Clerk January 1, 1999 Sun Hung Kai LAWRENCE LOWNANG VP/Head of Sales* Telephone Clerk January 1, 1999 Sun Hung Kai ROLAND CAGURANGAN Research Assistant* Telephone Clerk January 1, 1999 Sun Hung Kai RENATO UMALI II Sales Assistant** Authorized Clerk January 1, 1999 Sun Hung Kai MONIQUE PEARL GRACE Sales Account Authorized Clerk February 1, 1999 Sun Hung Kai LECAROS Executive** RODERICK AGUILAR Sales Account Authorized Clerk February 1, 1999 Sun Hung Kai Executive** ONG TEE JIN President/Corporate Director/Corporate February 1, 1999 Sun Hung Kai Nominee/Director** Nominee NG GAVIN HAW HUA Managing Director** President February 1, 1999 Sun Hung Kai FRANCISCO SINGIAN JR. Telephone Clerk** Authorized Clerk February 22, 1999 Urbancorp SUSAN DALIDA Administration Asst.* Telephone Clerk February 26, 1999 Warburg Dillon HELEN VILLABEZA Secretary-Research* Telephone Clerk February 26, 1999 Warburg Dillon MA. VICTORIA LAGUIO- Secretary-Research* Telephone Clerk February 26, 1999 Warburg Dillon QUILOP RAUL LAVIN Marketing Executive* Telephone Clerk March 1, 1999 Wellex ALFREDO YUSE JR. Securities Custodian* Telephone Clerk March 15, 1999 Wincorp EDNA DE LEON Office Clerk* Telephone Clerk February 25, 1999 Wong For your information and guidance. cdll (SGD.) JOSE LUIS U. YULO, JR. President & Chief Executive Officer