News Release

NASD Dispute Resolution to Provide Arbitration Awards Online

Washington, DC — NASD Dispute Resolution, Inc. announced today that it will begin making the vast library of arbitration awards available online on June 1, 2001. The awards library will be available for search 24 hours a day, seven days a week by award number, parties involved in the arbitration, arbitrator and award date.

Once the new system is live, awards will be accessible via a link on the NASD Dispute Resolution Web Site. NASD Dispute Resolution has entered into a cooperative arrangement with The Securities Arbitration Commentator (SAC) — — which developed (in partnership with CCH Incorporated) and will maintain the library of awards. In addition to the full text of an award, more sophisticated tools and enhanced services, including summary and analysis of specific awards, will be available for a fee from SAC.

"We are extremely pleased to have entered into this partnership with SAC. Awards from our forum are a tremendous resource for parties in the process of selecting arbitrators to hear their claim," said Linda Fienberg, President of NASD Dispute Resolution, Inc. "Making them readily accessible, free of charge, so that parties are able to review them at their convenience, will be an enormous help to anyone filing an arbitration claim."

Individuals without Internet access who want to receive awards in hard copy form from NASD Dispute Resolution will still be able to do so.

NASD Dispute Resolution is the nation’s largest securities industry dispute resolution forum, handling over 90 percent of all securities-related disputes through arbitration and/or mediation. NASD Dispute Resolution, NASD Regulation, the Nasdaq Stock Market, Inc., and the American Stock Exchange® are subsidiaries of the National Association of Securities Dealers, Inc. (NASD®), the largest securities industry self-regulatory organization in the United States.