Personnel Movement — Re-designation

November 3, 1999 PSE MEMO FOR BROKERS NO. 377-99 SUBJECT : Personnel Movement Re-designation PERIOD COVERED : October 1, 1999 October 31, 1999 NAME OF CONCURRENT*/PREVIOUS** EMPLOYEE POSITION RE-DESIGNATION EFFECTIVITY EMPLOYER JOCELYN LUBIANO Receptionist/ Telephone Clerk October 12, 1999 Cathay Telephone Operator* EMILY RODEL Manager* Compliance Officer October 19, 1999 EastWest LEAH HERNANDEZ Operations Clerk* Telephone Clerk October 21, 1999 Golden Tower JENNIFER JOYCE TAN Head of Operations* Compliance Officer September 1, 1999 Mandarin BERNARD TANEGA VP - Domestic Sales** Director - Corporate October 1, 1999 PJB Pacific Finance JIDGETTE VALENZUELA Senior Analyst** Acting Head of October 1, 1999 PJB Pacific Research JOCELYN PALATINO Operations Manager* Compliance Officer October 7, 1999 Pierce HEIDI CASTRO Asst. Manager - Sales* Authorized Clerk July 1, 1999 RCBC SEAN PAUL DARILAY Trainee** Account Officer October 5, 1999 Securities 2000 FREDERICK JAY YU CHENG Trainee** Account Officer October 5, 1999 Securities 2000 ALLAN SORIA Trainee** Account Officer October 5, 1999 Securities 2000 HAZEL WONG Trainee** Account Officer October 5, 1999 Securities 2000 CHRISTINA DAM EVP* Compliance Officer September 21, 1999 Trans-Asia LAURETA ARMADA Accounting Assistant* Compliance Officer October 20, 1999 Triton GIRLIE JASPE Trader** Supervisor - Processor October 4, 1999 Urbancorp For your information and guidance. (SGD.) JOSE LUIS U. YULO, JR. President and Chief Executive Officer