Personnel Movement-New appointments

November 3, 1999 PSE MEMO FOR BROKERS NO. 373-99 SUBJECT : Personnel Movement-New appointments PERIOD COVERED : October 1, 1999 October 31, 1999 FROM MEMBER FIRMS: NAME OF POSITION EFFECTIVITY PREVIOUS PRESENT EMPLOYEE EMPLOYER EMPLOYER GLADYS REYES Securities Settlement Staff October 18, 1999 Rizal Equities Abacus RAUL ELISEO GONZALO Retail Sales Account Officer September 13, 1999 S.J. Roxas Abacus HERNANDEZ II ANDREW CO Authorized Trader November 3, 1999 Armstrong re-hired VIOLETA PANGILINAN Research Assistant August 16, 1999 Citisecurities Guoco EDWIN SIAO Equities Dealer September 13, 1999 Abacus HSBC MICHAEL SANTOS Dealer October 6, 1999 ABN Amro Jardine Fleming IAN JOSEPH NUBLA Trainee October 4, 1999 Aurora Securities 2000 WALTER QUIJANO Marketing Assistant/ October 1, 1999 Lippo Topwin I.T. Manager ELVIRA AGUILAR Head - Credit & Collection October 1, 1999 Lippo Topwin ANA LIZA PEA Head of Trading October 1, 1999 R & L Topwin ROMMEL MAGLENTE Messenger October 1, 1999 Lippo Topwin PAULINE TAN President/COO September 1, 1999 Lippo Topwin STEVE BRIAN JISON Sales Agent October 22, 1999 Market Capital Tower Above-mentioned personnel have been issued clearances by their former employers to join another member-firm. cdlex For your information and guidance (SGD.) JOSE LUIS U. YULO, JR. President and Chief Executive Officer