News Release

NASD Dispute Resolution Establishes New Hearing Location in Puerto Rico

Washington, DC — NASD announced today that its Dispute Resolution division has established a new hearing location in San Juan, Puerto Rico. The hearing location is the first outside the 50 states. The location will become operational on January 1, 2003.

The new location has been designated as the hearing location for investors in the Caribbean area, which includes, but is not limited to, parties in Puerto Rico, the U.S. Virgin Islands, the Bahamas and Venezuela. A local roster of trained arbitrators is available for service at the new hearing location. All arbitration and mediation claims assigned to the San Juan hearing location will be administered out of the Southeast Regional Office of NASD Dispute Resolution, located in Boca Raton, Florida.

"The establishment of the Puerto Rico location, along with the addition of Spanish language material to our Web site in 2002, continues NASD's efforts to respond to the growing diversity of investors and their needs," said Linda Fienberg, President of NASD Dispute Resolution.

San Juan, Puerto Rico is the 48th hearing location for arbitration and mediation claims filed with NASD.

NASD Dispute Resolution is the largest securities dispute resolution forum in the world. NASD facilitates the efficient resolution of monetary, business, and employment disputes between investors, securities firms, and employees of securities firms by offering both arbitration and mediation services through a network of Hearing Locations across the United States.

NASD is the leading private-sector provider of financial regulatory services, dedicated to bringing integrity to the markets and confidence to investors through effective and efficient regulation and complementary compliance and technology-based services. NASD touches virtually every aspect of the securities business -- from registering and educating all industry participants, to examining securities firms, enforcing both NASD rules and the federal securities laws, and administering the largest dispute resolution forum for investors and member firms. For more information, please visit www‌