As requested by Chairman Perfecto R. Yasay, Jr., of the Securities and Exchange Commission (SEC), we are furnishing you, for your reference and guidance, a copy of his letter dated April 14, 1999, seeking assistance in the implementation of a SEC Order freezing the assets of WINGOLD MANAGEMENT PHILS., INC. (Wingold Management Limited) by informing trustee/depository banks of said corporation to disallow any and all withdrawals of any assets of said corporation in their custody.

Adopted: 21 April 1999

(SGD.) ARMANDO L. SURATOS
Deputy Governor and General Counsel