X. In the course of a drinking spree with Atty. Holgado who has always been his counsel in business deals, Simon bragged about his recent sexual adventures with socialites known for their expensive tastes. When Atty. Holgado asked Simon how he manages to finance his escapades, the latter answered that he has been using the bank deposits of rich clients of Banco Filipino where he works as manager. Is Simon's revelation to Atty. Holgado covered by the attorney-client privilege? 5%