SB Equities, Other Locals Top Stock Trading in July 2002

Manila, Philippines, 7 August 2002 – Local brokerage houses led by ATR Kim Eng Securities, SB Equities Inc. and Philippine Equity Partners, Inc. dominated stock trading at the Philippine Stock Exchange in July 2002 with each garnering 9.71%, 9.31% and 7.66% of total trades respectively. This is the first time in many months that local firms outdid their foreign counterparts in equities trading volume. Foreign brokers accounted for the bulk of trades in the first half of the year, led by ING Barings and followed closely by Deutsche Regis, UBS Warburg, and JP Morgan. In July However, PSE data showed that eleven local brokerage firms led by: ATR Kim Eng Securities; SB Equities, Inc., the securities brokerage subsidiary of Security Bank Corporation (PSE:SECB); and Philippine Equities Partners Inc., which was formed following a management buy-out of Merrill Lynch Securities Phils. Inc., accounted for the majority of the top 20 slots in terms of value turnover. SB Equities, Inc. consistently ranks among the top 20 brokers in the country, and has been awarded a citation for its full compliance with SEC and PSE requirements, a recognition which at that time had been bestowed on only 16 of the almost 200 brokerage houses operating in the Philippines.