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Separation from Office — No Clearance Issued

PSE Memo for Brokers No. 311-98 • Philippine Stock Exchange • Memo for Brokers • Jul 14, 1998

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July 14, 1998 PSE MEMO FOR BROKERS NO. 311-98 SUBJECT : Separation from Office No Clearance Issued MEMBER-FIRM : Equitable Securities Philippines, Inc. EQUITABLE SECURITIES PHILIPPINES, INC . has informed the Exchange on July 6, 1998 that its Messenger/Collector, MR . ROBERTO CRUZ , is no longer connected with the company effective July 1, 1998. cdpr Clearance in favor of Mr . Roberto Cruz to join another member-firm is still being processed. For your information and guidance. (SGD.) JOSE LUIS U. YULO, JR. President & Chief Executive Officer

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