Personnel Movement — Re-Designation

July 6, 1998 PSE MEMO FOR BROKERS NO. 298-98 SUBJECT : Personnel Movement Re-Designation PERIOD COVERED : June 15, 1998-June 30, 1998 NAME OF EMPLOYEE CONCURRENT * / PREVIOUS ** POSITION RE-DESIGNATION EFFECTIVITY EMPLOYER ROWENA MANUEL Securities Trading Asst. * Telephone Clerk June 24, 1998 Anscor Hagedorn MA. NATIVIDAD MONTINOLA Account Assistant ** Account Manager May 29, 1998 Anscor Hagedorn MARISSA NOORA Telephone Clerk ** Authorized Trader June 9, 1998 Asian Capital DENNIS DIONISIO Marketing Officer * Authorized Clerk May 29, 1998 Capitol Securities One RICARDO FERNANDEZ Telephone Clerk ** Authorized Clerk May 22, 1998 Connell MARIANITO ABANGAN Acting Head ** Branch Manager April 1, 1998 Dharmala-Cebu MA. SALVACION LUNETA Asst. Accounting Manager ** Accounting Manager May 1, 1998 Dharmala-Cebu WILLY TIENG Floor Trader ** Authorized Clerk June 8, 1998 G. D. Tan BENITO CORTES Vice President * Telephone Clerk May 18, 1998 Intra-Invest ROSARIO RAZON Director/COO * Telephone Clerk April 16,1998 Jardine Fleming JOVEN BABAAN Director/Research Head * Telephone Clerk April 16, 1998 Jardine Fleming HONORIO ALLADO Asst. Director-Sales * Telephone Clerk April 16, 1998 Jardine Fleming KATHRYN PAGUNSAN Settlements Manager ** Head-Securities & Settlements May 01, 1998 Jardine Fleming ROMMEL RODRIGO Agent ** Authorized Trader June 10, 1998 Magnum MARLYN CONCEPCION YAO Sales Executive ** Trader June 2, 1998 PNB SUSAN TORRES Operations Manager Assistant ** Salesman June 15, 1998 Public DIANNE GENE AQUINO Research Head * Authorized Clerk June 19, 1998 Summit JENNIFER TINGZON Research Staff * Telephone Clerk June 19, 1998 Summit LAWRENCE LOW-NANG Sales Trainee ** Vice President-Sales April 27, 1998 Sun Hung Kai MELVIN DE GUZMAN Settlements Clerk * Telephone Clerk June 16, 1998 The First Resources RAYMOND BERMUDEZ Research Analyst * Telephone Clerk June 8, 1998 Wellex Global RODIN LOPEZ Marketing Executive * Telephone Clerk June 8, 1998 Wellex Global For your information and guidance. cdll (SGD.) JOSE LUIS U. YULO, JR. President & Chief Executive Officer