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Separation from Office — No Clearance Issued

PSE Memo for Brokers No. 290-98 • Philippine Stock Exchange • Memo for Brokers • Jul 2, 1998

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July 2, 1998 PSE MEMO FOR BROKERS NO. 290-98 SUBJECT : Separation from Office No Clearance Issued MEMBER-FIRM : Belson Securities, Inc. BELSON SECURITIES, INC . has informed the Exchange on June 23, 1998 that the following employees are no longer connected with the company: NAME POSITION EFFECTIVITY 1. MS. MORENA B. ORBE Securities Clerk May 31,1998 2. MS. IRENE MARDILYN GUMIA Secretary June 15, 1998 The company has not issued any clearance in favor of Mmes . Orbe and Gumia to join another member-firm. For your information and guidance. (SGD.) JOSE LUIS U. YULO, JR. President & Chief Executive Officer

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