Personnel Movement — Re-Designation

April 1, 1998 PSE MEMO FOR BROKERS NO. 158-98 SUBJECT : Personnel Movement Re-Designation PERIOD COVERED : March 1, 1998 March 31, 1998 NAME OF EMPLOYEE CONCURRENT*/PREVIOUS** POSITION RE-DESIGNATION EFFECTIVITY EMPLOYER REYNALDO MADRILEJO Sr. Operations Manager** Compliance Officer February 11, 1998 Abacus MARIA PATRICIA CORINA SALCEDO AVP-Optns. & Finance** Compliance Officer March 16, 1998 Amsteel PHILIP LEDESMA Branch Mgr.-Bacolod Br.** Agent January 31, 1998 Asian Capital MARION LUZURIAGA Acct. Exec.-Bacolod Br.** Agent January 31, 1998 Asian Capital MELVIN VERGARA VP-Operations* Telephone Clerk January 2, 1998 Guild MARCELINO RAMILLANO Acct. Exec.-Retail Sales* Telephone Clerk March 16, 1998 Magnum ANTONIO YMIL YCONG Settlements/Transfer Clerk* Telephone Clerk March 17, 1998 PCCI FREDERICK ONG Technical Analyst* Authorized Clerk March 20, 1998 Solar CARMELO TANSENGCO Computer Encoder* Telephone Clerk February 28, 1998 Tansengco RICHARD ANG Trainee** Data Entry Clerk March 18, 1998 Triton ROMMEL RONALD MACAPAGAL Marketing Executive* Telephone Clerk March 18, 1998 Wellex For your information and guidance. cdt (SGD.) JOSE LUIS U. YULO, JR. President & Chief Executive Officer