Attached for your information and guidance is a copy of Memorandum to all RoSS subscribers dated October 15, 1997 signed by Ms. Caridad Valdehuesa, Treasurer of the Philippines, BTr, regarding the 15% discount being offered effective January 2, 1998 to RoSS subscribers who pay their subscription fee for the entire year in advance.

Adopted: 21 Oct. 1997



Attachment:


Effective next year, January 2, 1998, RoSS Subscribers who pay their subscription fee for the entire year in advance will get a 15% discount as follows:

Account

Annual Fee

Less 15% Discount

Principal/Sub-Account Securities Account for GSED's (Ps 6,000.00/mo. x 12)

Ps 72,000.00

Ps 61,200.00

Principal Securities Account for Secondary Market Dealers licensed by SEC (Ps 3,000.00/mo. x 12

36,000.00

30,600.00

Client Securities Account (Ps 1,000.00/mo. x 12)

12,000.00

10,200.00

Kindly notify RoSS in advance if you are availing of the offer.

Adopted: 15 Oct. 1997