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Separation from Office — No Clearance Issued

PSE Memo for Brokers No. 425-98 • Philippine Stock Exchange • Memo for Brokers • Sep 23, 1998

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September 23, 1998 PSE MEMO FOR BROKERS NO. 425-98 SUBJECT : Separation from Office No Clearance Issued MEMBER-FIRM : Belson Securities, Inc. BELSON SECURITIES, INC. has informed the Exchange on September 16, 1998 that its Securities Clerk, MS . MINERVA S . TANYAG , is no longer connected with the company effective September 15, 1998. LLjur The company has not issued any clearance in favor of Ms . Tanyag to join another member-firm. For your information and guidance. (SGD.) JOSE LUIS U. YULO, JR. President & Chief Executive Officer

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