Donald E. Sheldon & Co., Inc. One Wall Street New York, New York 10005

TO: All NASD Members and Other Interested Persons

ATTN: Operations Officer, Cashier, Fail-Control Department

On August 13, 1985, the United States District Court for the Southern District of New York appointed a SIPC Trustee for the above-captioned firm.

Please refer to Notice to Members 85-51 regarding the previous appointment of a Temporary Receiver.

Questions regarding the firm should be directed to:

SIPC Trustee

Stanley T. Lesser, Esquire
Kaye, Scholer, Fierman,
Hays & Handler
425 Park Avenue
New York, New York 10022
Telephone: (212) 407-8000