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Separation from Office — No Clearance Issued

PSE Memo for Brokers No. 450-98 • Philippine Stock Exchange • Memo for Brokers • Oct 1, 1998

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October 1, 1998 PSE MEMO FOR BROKERS NO. 450-98 SUBJECT : Separation from Office No Clearance Issued MEMBER-FIRM : Mercantile Securities Corporation MERCANTILE SECURITIES CORPORATION has informed the Exchange on September 29, 1998 that its Messenger, MR . SAMUEL BAPTISTA , is no longer connected with the company effective September 15, 1998. LLcd Clearance in favor of Mr . Baptista 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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