Personnel Movement — Resignations

April 1, 1998 PSE MEMO FOR BROKERS NO. 155-98 SUBJECT : Personnel Movement Resignations PERIOD COVERED : March 1-March 31, 1998 NAME OF EMPLOYEE POSITION EFFECTIVITY PREVIOUS EMPLOYER NANCY ANNE CALLEJO Junior Analyst March 15, 1998 Abacus MELANIE BALAGTAS Comptroller February 28, 1998 Abacus RICHARD ANTHONY JOHNSTON, JR. Group Secretary March 4, 1998 Abacus DANIEL CANILANG Accounting Clerk March 11, 1998 Abacus TRISHA MARIE MALIKSI AVP-Research March 11, 1998 Abacus AGNES MONDOEDO VP-Retail Sales March 11, 1998 Abacus RICHARD PALIGSA Customer & Nominee Services March 11, 1998 Abacus JOEL REYES Customer & Nominee Services March 11, 1998 Abacus RIZALINA SANCHEZ Secretary March 11, 1998 Abacus REYNALDO SARMIENTO Accounting Clerk March 11, 1998 Abacus ROSANNA BRIONES Receptionist/Tel. Operator February 28, 1998 Abacus JENNIFER MARTELINO Administrative Assistant February 28, 1998 Abacus JESUSA TAYCO Filing Clerk February 28, 1998 Abacus SHARON MARY LOUISE VARGAS Trader September 10, 1997 Abacus-Bacolod CHRISTOPHER GARAY Assistant Credit Controller February 15, 1998 Amsteel HERMINIA BALBABOCO Cashier January 15, 1998 Angping MA. BERNADETTA BAMBA Tel. Operator/Receptionist January 31, 1998 Angping JOSEPHINE BARLUADO Foreign Settlement Assistant January 31, 1998 Angpin CARLOS BRAGANZA Messenger January 31, 1998 Angpin RONALDO DE LEON Transfer Assistant January 31, 1998 Angping NAIDA FONTELERA Accounting Clerk January 15, 1998 Angping RODEL GANA Messenger January 31, 1998 Angping EILEEN OREIRO Assistant Editor January 31, 1998 Angping NONAFE OSTACO Transfer Clerk January 31, 1998 Angping JU-ANN REINOSO Analyst January 31, 1998 Angping LUZVI FLORES Order Taker January 31, 1998 Angping TERESA LOZADA Secretary February 15, 1998 Angping CRISTINA NATO Secretary January 31, 1998 Angping EDEN OLIVA Assistant Programmer February 15, 1998 Angping ALLAN PATRICIO Clerk/Typist January 31, 1998 Angping GREGORIO PRINCIPE JR. Librarian February 15, 1998 Angping TRINA SARMIENTO Telephone Clerk February 15, 1998 Angping RODOLFO PREN Director-Optns. & Chief Compliance Officer February 28, 1998 Angping DAVID DE LA CRUZ Marketing Officer February 28, 1998 Armstrong JENNIFER JARMONILLA Bookkeeper January 31, 1998 Asian Capital LORVEN ANINION Messenger January 31, 1998 Asian Capital ANDRES AGUENZA Messenger February 23, 1998 BZW BONIFACIO ARTICONA Floor Trader February 23, 1998 BZW PAULITA COMIA Assistant Manager February 23, 1998 BZW EMMANUEL DE JESUS Floor Trader February 23, 1998 BZW FE FLORESTA Settlements Clerk February 23, 1998 BZW CRISTINA INFANTE Head of Research February 23, 1998 BZW MICHAEL EDWARD JACOB Head of Sales February 23, 1998 BZW MA. THERESA LOPEZ Dealer February 23, 1998 BZW JEANETTE MARCELO Librarian February 23, 1998 BZW BIENVENIDO NAMAYAN, SR. Messenger February 23, 1998 BZW EUNICE PACIFICO Receptionist February 23, 1998 BZW JULIAN PENDOCK Analyst February 23, 1998 BZW CONCHITA POSADAS Research Assistant February 23, 1998 BZW JOHN FRANCIS PHILLIP SABO Accountant February 23, 1998 BZW FRANCISCO SY-SIONG Analyst February 23, 1998 BZW JAMES ARNOLD VILLAROMAN Dealer February 23, 1998 BZW BERNADETTE MA. SANDRA TAMAYO Analyst March 1, 1998 BZW MONIB ESMAEL Messenger February 28, 1998 Christfund RENATO DE LOS REYES Settlements Manager February 13, 1998 DBP-Daiwa CONRADO ANTONIUS DE JESUS Research Assistant February 13, 1998 DBP-Daiwa MYRA BATARA Scrips Custodian February 28, 1998 DBS ANGELITO ESPARAS Driver/Messenger February 28, 1998 DBS LARRY LIBOON Driver/Messenger February 28, 1998 DBS MARILOU BASCO Transfer Assistant August 15, 1997 Diversified MYRA DE CASTRO Settlements Assistant October 15, 1997 Diversified RHEA LASCANO Research Head November 7, 1997 Diversified CHRISTOPHER GOCOCO Telephone Clerk September 30, 1997 Diversified GERALDINE ARANAS General Clerk January 31, 1998 Eagle FEDERICO HATE Messenger/Collector January 1, 1998 Equitable (retired) RICHARD ALOYAN Messenger January 31, 1998 F. Yap JONAS VENTIGAN Telephone Clerk February 15, 1998 GD Tan EUGENE YU Telephone Clerk February 16, 1998 GD Tan WILLIAM LEE Telephone Clerk February 16, 1998 GD Tan BEATRIZ ZALAZAR Marketing/Sales Officer February 25, 1998 GK Goh CARLITO ANCHETA IT Supervisor January 15, 1998 HSBC James Capel SANDRA ALDEGUER Investment Analyst March 12,1998 HSBC James Capel ROCHELLE TABLIZO Telephone Clerk February 28, 1998 IGC LUISITO ANASTACIO Driver March 11, 1998 IndosuezWI Carr GIOVANNI DE LA ROSA Research Analyst February 9, 1998 ING Baring ITUS VILCHEE Research Assistant February 9, 1998 ING Baring MARY JANE RIVERA Research Support February 9, 1998 ING Baring MA. ANGELINA MAGSANOC Property Research Analyst March 31, 1998 Jardine Fleming RAOUL PEREZ Beverage Research Analyst March 31, 1998 Jardine Fleming NEMA AQUILLO General Office Clerk February 28, 1998 Kerry KAREN ALVENDIA Acctg./Sett. Control Clerk February 28, 1998 Kerry BELEN BONSAY Accountant February 28, 1998 Kerry MARITES CLEMENTE Accounting Clerk February 28, 1998 Kerry FLORENTINO DEQUINA Messenger February 28, 1998 Kerry IRISH WANTA Accounting Clerk February 1, 1998 Market Capital RICARDO MILANES Messenger/Janitor February 1, 1998 Market Capital STEVE ACESOR Foreign Settlements Clerk February 27, 1998 Peregrine JAYSREL CORPUS Accountant February 16, 1998 Phil-Progress CRISTETA BUNGATO Operations Manager February 15, 1998 Pierce Interlink RAUL FLORALDE Encoder/Telephone Clerk February 15, 1998 Pierce Interlink CELIA HANGAD Asst. Telephone Clerk December 31, 1997 Probity LOUIE TOLENTINO Messenger February 15, 1998 Probity LORNA MOTUS Office Clerk February 28, 1998 RS Lim EVELYN DE GUZMAN Librarian January 31, 1998 Sapphire ALAIN SEBASTIAN Sales Trainee February 6, 1998 Sun Hung Kai EDWIN VIRAY Office Clerk March 3, 1998 Sun Hung Kai ELIZA SILVESTRE Investment Analyst March 12, 1998 Sun Hung Kai GABRIEL BARLITO, JR. Trader February 20, 1998 Urbancorp Above-mentioned personnel were issued clearances to join another member-firm by previous employers. For your information and guidance. (SGD.) JOSE LUIS U. YULO, JR. President & Chief Executive Officer