Personnel Movement — New Appointments

April 30, 1998 PSE MEMO FOR BROKERS NO. 206-98 SUBJECT : Personnel Movement New Appointments PERIOD COVERED : April 1, 1998-April 30, 1998 FROM NON-MEMBER FIRMS : NAME OF POSITION EFFECTIVITY PRESENT EMPLOYEE EMPLOYER CARMINIA JEAN CHUA Controller March 16, 1998 Abacus FREDERIC JAY YU CHENG Telephone Clerk April 3, 1998 Asiasec IRENE MARDILYN GUMIA Secretary March 23, 1998 Belson SALVADOR SEGOVIA Messenger March 9, 1998 Christfund REBECCA LICUANAN Internal Auditor/Compliance Officer February 16, 1998 Connell ROBERTO HURANO Messenger April 1, 1998 DBP-Daiwa LESLIE ALMERO Secretary April 20, 1998 DBP-Daiwa ANDREW MONTGOMERY LAO Telephone Clerk March 20, 1998 Golden Tower CIELITA SALAC Accounting Assistant April 20, 1998 Goldstar JUDY MENDIETA Accountant April 1, 1998 Kim Eng ROSANNA MARIE TIOSIC Senior Analyst April 1, 1998 Kim Eng GEORGE BREVA Messenger April 1, 1998 Kim Eng SAEED MAGHDOORI Compliance Officer April 15, 1998 Merrill Lynch ROBERT YU Chairman/President February 28, 1998 Multi-Grade ZANDRA TY AVP-Operations February 28, 1998 Multi-Grade SHARWIN LOPEZ TEE Telephone Clerk April 20, 1998 Premium NORMAN VILLAMIN Head of Research March 9, 1998 SBC Warburg MA. IVY CAYAYAN Research Analyst March 9, 1998 SBC Warburg MA. VICTORIA QUILOP Research Secretary March 9, 1998 SBC Warburg REGINA MANZANO Research Analyst March 9, 1998 SBC Warburg CARLOS JALANDONI Research Analyst March 9, 1998 SBC Warburg PABLO RAIPAN Company Driver March 9, 1998 SBC Warburg RODRIGO BENOZA Messenger April 6, 1998 Securities 2000 FRANCISCO SINGIAN, JR. Telephone Clerk April 8, 1998 Urbancorp AARON BARET Telephone Clerk April 8,1998 Urbancorp Above-mentioned personnel were not connected with any member-firm prior to their present employment. LLpr For your information and guidance. (SGD.) RAFAEL L. LLAVE Chief Operating Officer