Personnel Movement — Re-Designation

July 5, 1999 PSE MEMO FOR BROKERS NO. 230-99 SUBJECT : Personnel Movement Re-Designation PERIOD COVERED : June 1, 1999 June 30, 1999 NAME OF CONCURRENT*/PREVIOUS** EMPLOYEE POSITION RE-DESIGNATION EFFECTIVITY EMPLOYER JOSEPHINE MANGUBAT Settlement Staff* Telephone Clerk June 1, 1999 DBP-Daiwa MARILYN PEREIRA EDP Encoder** Gen. Office Admin- June 16, 1999 DBS In-Charge MICHAEL TABAL Settlements Clerk** Invoicing Clerk May 28, 1999 OCBC RICHARD UNDERWOOD Manager-Equity VP-Institutional Sales June 1, 1999 PJB Pacific Sales** BERNARD TANEGA Manager-Equity VP-Domestic Sales June 1, 1999 PJB Pacific Sales* ERWIN CHIONGBIAN Director* Telephone Clerk May 7, 1999 Sarangani EVALOR QUIJANO Invoicing Staff* Telephone Clerk May 20, 1999 Vickers Ballas RAYMOND BERMUDEZ Research Analyst Research Analyst May 20, 1999 Wellex Global Telephone Clerk** For your information and guidance. (SGD.) JOSE LUIS U. YULO, JR. President & Chief Executive Officer