PSE reacts to STAR story

Dear Mr. Katigbak,

This is to clarify the article that appeared on the Business Section of today’s (Oct 2, 2009) issue of The Philippine STAR entitled, “Key PSE official fired”.

Atty. Joseph San Pedro, who headed our Market Regulation Division was not fired. This circumstance of his leaving the Philippine Stock Exchange (PSE) is not connected at all with the publication on the website of the list of broker penalties.

On the matter of Ms. Conchita Manabat, her term as chairperson of the Market Integrity Board ended last September.

We trust that you will be able to clarify this matter in your future articles.

Thank you.

Very truly yours,

Francis Ed. Lim

President and Chief Executive Officer