Application for Corporate Membership

February 18, 2000PSE MEMO FOR BROKERS NO. 054-00SUBJECT:Application for Corporate Membership   MEMBER-FIRM:BA Securities, Inc. Please be informed that an application for Corporate Membership in the Exchange has been filed by BA SECURITIES, INC. through the transfer of seat registered in the name of Mr. Ang Biao and the designation of MR. ANG BIAO as its corporate nominee.Pursuant to Art. III, Section 8 of the PSE By-Laws, the Exchange hereby notifies the membership and will not accept any comments on the above-mentioned application.Please send your comments to our Membership Department within fifteen (15) days from the date of circulation. The last day for submission of comments will be on March 3, 2000. cdlexPlease be guided accordingly. (SGD.) JOSE LUIS U. YULO, JR.President & Chief Executive Officer