Personnel Movement-New Appointments

February 2, 2000PSE MEMO FOR BROKERS NO. 041-00SUBJECT:Personnel Movement-New Appointments   PERIOD COVERED:January 1, 2000-January 31, 2000 FROM MEMBER FIRMS:         NAME OFPREVIOUSPRESENT  EMPLOYEEPOSITIONEFFECTIVITYEMPLOYEREMPLOYER     CARLA CECILIA CATAPANGIndependent AgentJanuary 3, 2000EquitableAll AsiaSecuritiesCHRISTOPHER TEEHANKEESales AgentJanuary 3, 2000KerryFirst OrientDEVINA GARCIAAccountantJanuary 12, 2000LuysMandarinCAROL JANE EVANGELISTAAdministrative    AssistantJanuary 5, 2000Jardine FlemingMerrill LynchERNESTO RULLODA JR.TraderNovember 22, 1999UrbancorpRashid HussainWALTER QUIJANOConsultantDecember 16, 1999TopwinSun Hung KaiELVIRA AGUILARConsultantDecember 16, 1999TopwinSun Hung KaiRANDY ANGVP-OperationsDecember 16, 1999HDITowerJOCELYN CHENGAccounting ManagerJanuary 3, 2000ParibasUnicapitalPATRICIA CARMEN DE PEDROInvestment AnalystDecember 22, 1999VantageWorldsecBEN RUBEN LINOTelephone Clerk/DataJanuary 10, 2000EquitiworldWorldsec Encoder   Above-mentioned personnel have been issued clearances by their former employers to join another member-firm.For your information and guidance. cdll (SGD.) JOSE LUIS U. YULO, JRPresident & Chief Executive Officer