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Separation from Office — No Clearance Issued

PSE Memo for Brokers No. 444-98 • Philippine Stock Exchange • Memo for Brokers • Sep 30, 1998

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September 30, 1998 PSE MEMO FOR BROKERS NO. 444-98 SUBJECT : Separation from Office No Clearance Issued MEMBER-FIRM : Aurora Securities, Inc. AURORA SECURITIES, INC . has informed the Exchange on September 28, 1998 that its Research Analyst, MR . CHRISTOPHER R . NATIVIDAD is no longer connected with the company effective September 18, 1998. prLL Clearance in favor of Mr . Natividad 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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