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Separation from Office — No Clearance Issued

PSE Memo for Brokers No. 398-98 • Philippine Stock Exchange • Memo for Brokers • Sep 2, 1998

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September 2, 1998 PSE MEMO FOR BROKERS NO. 398-98 SUBJECT : Separation from Office No Clearance Issued MEMBER-FIRM : Connell Securities, Inc. CONNELL SECURITIES, INC . has informed the Exchange on August 26, 1998 that its External Admin . Staff, MS . ANGELITA C . MAGTIBAY , is no longer connected with the Company effective August 15, 1998. Clearance in favor of Ms . Magtibay 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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