Personnel Movement — New Appointments

April 1, 1998 PSE MEMO FOR BROKERS NO. 157-98 SUBJECT : Personnel Movement New Appointments PERIOD COVERED : March 1, 1998 - March 31, 1998 FROM NON-MEMBER FIRMS: NAME OF EMPLOYEE POSITION EFFECTIVITY PRESENT EMPLOYER JAIME DARANTINAO President/Telephone Clerk February 28, 1998 Armstrong NENETTE GARIL Accounts Assistant March 2, 1998 Credit Lyonnais RONALD LEJANO Settlements Assistant March 2, 1998 Credit Lyonnais FRANCISCO LUGUE Head of Sales February 16, 1998 DBP-Daiwa VICENTE RODRIGUEZ Driver January 26, 1998 DBP-Daiwa JACQUELINE RODRIGUEZ Secretary March 11, 1998 DBP-Daiwa RACQUEL PANALIGAN Settlements Assistant March 1, 1998 DBP-Daiwa VERNA TINGZON Executive Secretary June 19, 1997 Diversified ANABETH GELITO Accounting Assistant November 21, 1997 Diversified THERESA SAMANIEGO Transfer Assistant July 22, 1997 Diversified SUSANA PANALIGAN Finance Manager August 18, 1997 Diversified RANULFO FERNANDEZ Telephone Clerk February 1, 1998 F. Yap RAMONA ANG Vice President February 16, 1998 Globalinks VERONICA VELOSO Telephone Clerk February 10, 1998 Globalinks KENNETH YOUNG Analyst March 1, 1998 Pan-Asia VINCENT LARGO Encoder March 1, 1998 Pan-Asia LEONARDO MUNSALUD Driver/Utility Man March 1, 1998 Paribas Asia Equity ANTONIO SIBAYAN President/Telephone Clerk February 23, 1998 Public REYNARD ONG Accounting Clerk March 2, 1998 Triton MARVIN DY Data Encoder March 2, 1998 Triton Above-mentioned personnel were not connected with any member-firm prior to their present employment. LLjur For your information and guidance. (SGD.) JOSE LUIS U. YULO, JR. President & Chief Executive Officer