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Separation from Office — No Clearance Issued

PSE Memo for Brokers No. 399-98 • Philippine Stock Exchange • Memo for Brokers • Sep 7, 1998

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September 7, 1998 PSE MEMO FOR BROKERS NO. 399-98 SUBJECT : Separation from Office No Clearance Issued MEMBER-FIRM : Angping & Associates Securities, Inc. ANGPING & ASSOCIATES SECURITIES, INC . has informed the Exchange on August 24, 1998 that its Analyst, MR . ENRIQUE E . LOZARI , is no longer connected with the company effective August 15, 1998. The company has not issued any clearance in favor of Mr . Lozari pending submission of his clearance requirements. cdt For your information and guidance. (SGD.) JOSE LUIS U. YULO, JR. President & Chief Executive Officer

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