Personnel Movement-Resignations

February 2, 2000PSE MEMO FOR BROKERS NO. 045-00SUBJECT:Personnel Movement-Resignations   PERIOD COVERED:January 1, 2000-January 31, 2000 NAME OF   FORMEREMPLOYEE POSITION EFFECTIVITY EMPLOYER    MA. CECILIA BUNDACashier/Accounting StaffDecember 29, 1999Asia Pacific CapitalDANILO FUENTESCollector/MessengerDecember 29, 1999Asia Pacific CapitalNOEL CAMAHALANCollector/MessengerDecember 29, 1999Asia Pacific CapitalLISETTE ISLER MULESOperations Staff IIDecember 16, 1999FEBMICHELLE EMPISOExecutive AssistantDecember 1, 1999ING BaringsAbove-mentioned employees transferred to its company's affiliate/subsidiary. cdllFor your information and guidance.(SGD.) JOSE LUIS U. YULO, JR.President & Chief Executive Officer