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Separation from Office — No Clearance Issued

PSE Memo for Brokers No. 527-98 • Philippine Stock Exchange • Memo for Brokers • Nov 5, 1998

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November 5, 1998 PSE MEMO FOR BROKERS NO. 527-98 SUBJECT : Separation from Office No Clearance Issued MEMBER-FIRM : Anscor Hagedorn Securities, Inc. ANSCOR HAGEDORN SECURITIES, INC. has informed the Exchange on October 28, 1998 that the following employees shall no longer be connected with the company effective November 6, 1998: 1. NOEL G. REYES VP-Research 2. ANGEL MA. P. INGALLA III Manager (Baguio Branch) 3. SONNY D. DAVID Account Assistant (Baguio Branch) 4. ANA MARIE O. NERONA Account Assistant (Baguio Branch) 5. CAROLINE G. CASTILLO Securities Clerk (Baguio Branch) 6. MA. ADELUISA M. RUBIO Securities Clerk (Baguio Branch) 7. ROSARIO G. DAPAT Account Assistant (Cebu Branch) 8. ORLINO C. BARRIENTOS Assistant Manager (Dagupan Branch) 9. JEANIE F. MOLINA Securities Clerk (Davao Branch) 10. EDITHA O. ZABALLERO Account Assistant (Lucena Branch) Clearances in favor of the above-mentioned employees to join another member-firm are still being processed. For your information and guidance. (SGD.) RAFAEL L. LLAVE Chief Operating Officer

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