Issuance of Clearance

Philippine Stock Exchange

PSE Memoranda

PSE Memo for Brokers No. 022-00

January 13, 2000

PSE MEMO FOR BROKERS NO. 022-00

SUBJECT:Issuance of Clearance
MEMBER-FIRM:Market Capital & Securities, Inc.

Further to PSE Memo for Brokers No. 11 - 2000 dated January 3, 2000, MARKET CAPITAL & SECURITIES, INC. has informed the Exchange that the company has issued clearance in favor of MS. GRACE B. UTULO to join another member-firm. LexLib

For your information and guidance.

(SGD.) JOSE LUIS U. YULO, JR.
President & Chief Executive Officer

AIC Grande Tower Garnet Road
Ortigas Center, Pasig City
Metro Manila Philippines

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