TO: All NASD Members and Other Interested Persons

On June 2, 1983, the Securities and Exchange Commission ("SEC") approved amendments to Schedule E to Article IV, Section 2 of the Association's By-Laws ("Schedule E") which relates to the distribution of members' own securities and those of affiliates. The amendments became effective upon approval and are applicable to all offerings filed with the Association after June 2, 1983.

TO: All NASD Members and Municipal Securities Bank Dealers

ATTN: All Operations Personnel

Securities markets and the NASDAQ System will be closed on Monday, September 5, 1983, in observance of Labor Day. "Regular-Way" transactions made on the business days immediately preceding that day will be subject to the following schedule.

Trade Date-Settlement Date Schedule For "Regular-Way" Transactions

I M P O R T A N T

MAIL VOTE

Officers * Partners * Proprietors

TO: All NASD Members

Last Voting Date Is September 19, 1983

TO: All NASD Members

TO: All NASD Members and Other Interested Persons

Attention: Direct Participation Program Department

TO: All NASD Members and NASDAQ Level 2 and Level 3 Subscribers

An additional 50 issues will voluntarily join the NASDAQ National Market System on October 18, bringing the total number of NMS securities to 571. These 50 issues meet the SEC's criteria for voluntary designation, which include average monthly trading volume of 100,000 shares and a minimum bid price of $5.

The 50 issues scheduled to join NMS on Tuesday, October 18, are:

TO: All NASD Members and Municipal Securities Bank Dealers

FROM: All Operations Personnel

"Regular-Way" transactions made on Monday, October 10, Columbus Day and the days immediately preceding this day will be subject to the settlement date schedule listed below. The purpose of this schedule is to provide uniformity since, while the NASDAQ System and other securities markets will be open on these days, many banking institutions will be closed.

Trade Date-Settlement Date Schedule For "Regular-Way" Transactions

TO: All NASD Members and Other Interested Persons

It is a pleasure to announce the commencement of an NASD sponsored program to provide members with the surety bonds required by many States under their securities laws.

The program will provide a quick and easy way for members to acquire surety bonds at reasonable premium rates. Bonds will be issued automatically with no underwriting on receipt of the required forms and premium payment.

TO: All NASD Members and Other Interested Persons

Following is a list of NASD Notices to Members issued during the third quarter of 1983. Requests for copies of any notice should be accompanied by a self-addressed label and may be directed to: NASD Administrative Services, 1735 K Street, N.W., Washington, D. C. 20006.

TO: All NASD Members and Level 2 and Level 3 Subscribers