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Separation from Office — No Clearance Issued

PSE Memo for Brokers No. 381-98 • Philippine Stock Exchange • Memo for Brokers • Aug 24, 1998

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August 24, 1998 PSE MEMO FOR BROKERS NO. 381-98 SUBJECT : Separation from Office No Clearance Issued MEMBER-FIRM : J.M. Barcelon & Co., Inc. J . M . BARCELON & CO . , INC . has informed the Exchange on August 18, 1998 that its Office Manager, MS . AMALIA M. ESGUERRA , is no longer connected with the company effective immediately. cdll The company has not issued any clearance in favor of Ms . Esguerra to join another member-firm. For your information and guidance. (SGD.) JOSE LUIS U. YULO, JR. President & Chief Executive Officer

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