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Separation from Office — No Clearance Issued

PSE Memo for Brokers No. 502-98 • Philippine Stock Exchange • Memo for Brokers • Oct 29, 1998

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October 29, 1998 PSE MEMO FOR BROKERS NO. 502-98 SUBJECT : Separation from Office No Clearance Issued MEMBER-FIRM : DBS Securities Philippines, Inc. DBS SECURITIES PHILIPPINES, INC . has informed the Exchange on October 19, 1998 that its Vice President for Research , MR . KENNETH V . NERECINA , is no longer connected with the company effective October 15, 1998. Clearance in favor of Mr . Nerecina to join another member-firm is still being processed. For your information and guidance. (SGD.) RAFAEL L. LLAVE Chief Operating Officer

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