Personnel Movement — Re-Designation

April 1, 1998 PSE MEMO FOR BROKERS NO. 207-98 SUBJECT : Personnel Movement Re-Designation PERIOD COVERED : April 1, 1998 - April 30, 1998 NAME OF EMPLOYEE CONCURRENT*/PREVIOUS ** POSITION RE-DESIGNATION EFFECTIVITY EMPLOYER MARINETTE ROMULO Information System Associate * Telephone Clerk April 2, 1998 Abacus VENUS SEITON Asst. Vice President * and Chief Compliance Officer Director of Operations March 1, 1998 Angping ALEX QUION Institutional Sales * Authorized Clerk December 1, 1997 Asian Capital IAN JOSEPH NUBLA Account Officer ** Authorized Clerk April 21, 1998 Aurora JUAN CARLOS SUMULONG Research Assistant ** Institutional Sales April 1, 1998 DBS WENDELINE QUE CHAN Stocks Custodian * Corporate Secretary April 16, 1998 Goldstar CHRISTIAN JOSEPH CALIMBAS Dealer * Telephone Clerk January 9, 1998 Keppel JEAN ADAP Client Service Officer * Telephone Clerk April 1, 1998 Meridian KATHERINE ARZADON Treasury Officer * Telephone Clerk April 1, 1998 Meridian EDGARDO YETYET Encoder * Telephone Clerk April 22, 1998 RTG CAROLINE UY PE Vice President * Telephone Clerk April 2, 1998 Sapphire ELIZA FAYE CALICA Trainee ** Account Executive April 1, 1998 Securities 2000 CLARISSA CHOI Trainee ** Account Executive April 1, 1998 Securities 2000 DIANA KING Trainee ** Account Executive April 1, 1998 Securities 2000 MIKE LEEHUEKEE Trainee ** Account Executive April 1, 1998 Securities 2000 FRANKLIN LIM Trainee ** Account Executive April 1, 1998 Securities 2000 RICO MARIANO Trainee ** Account Executive April 1, 1998 Securities 2000 URBANO RAZON, JR. Head of Settlements ** Head of Operations April 16, 1998 SocGen-Crosby FELIX TY Director/Auth. Clerk ** Director February 1, 1998 Solar RAYMOND FAJARDO Office Staff * Telephone Clerk April 2, 1998 Unicapital KENNETH NERECINA Director-Research ** Deputy Director Research April 1, 1998 Vickers Ballas For your information and guidance. (SGD.) RAFAEL L. LLAVE Chief Operating Officer