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Separation from Office — No Clearance Issued

PSE Memo for Brokers No. 447-98 • Philippine Stock Exchange • Memo for Brokers • Oct 1, 1998

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October 1, 1998 PSE MEMO FOR BROKERS NO. 447-98 SUBJECT : Separation from Office No Clearance Issued MEMBER-FIRM : Asian Capital Equities, Inc. ASIAN CAPITAL EQUITIES, INC . has informed the Exchange on August 31, 1998 that its Office Manager/Compliance Officer, MS . RENEE M . RIVERO , is no longer connected with the company effective August 31, 1998. Clearance in favor of Ms . Rivero 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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