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

On Tuesday, January 21, 1986, 16 issues are scheduled to join the NASDAQ National Market System, bringing the total number of issues in NASDAQ/NMS to 2,218. These 16 issues, which will begin trading under real-time trade reporting, are entering NASDAQ/NMS pursuant to the Securities and Exchange Commission's criteria for voluntary designation.

The 16 issues scheduled to join NASDAQ/NMS on Tuesday, January 21, 1986, are:

TO: All NASD Members and Other Interested Persons

TO: All NASD Members and Municipal Securities Dealers

ATTN: All Operational Personnel

Securities markets and the NASDAQ System will be closed on Monday, February 17, 1986, in observance of Presidents' Day. "Regular-way" transactions made on the preceding business days will be subject to the settlement date schedule listed below.

The NASDAQ System and the banks in New York State will be open on February 12, 1986, Lincoln's Birthday.

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

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

On Tuesday, February 4, 1986, 19 issues are scheduled to join the NASDAQ National Market System, bringing the total number of issues in NASDAQ/NMS to 2,237. These 19 issues, which will begin trading under real-time trade reporting, are entering the NASDAQ/NMS pursuant to the Securities and Exchange Commission's criteria for voluntary designation.

The 19 issues scheduled to join NASDAQ/NMS on Tuesday, February 4, 1986, are:

TO: All NASD Members

ATTN: Operations Officer, Cashier, Fail-Control Department

On January 27, 1986, the United States District Court of Pennsylvania, Eastern Division, appointed a SIPC Trustee for the above-captioned firm.

Members may use the "immediate close-out" procedures as provided in Section 59(i)(2) of the NASD's Uniform Practice Code to close out open OTC contracts. Also, MSRB Rule G-12(h)(iii) provides that members may use the above procedures to close out transactions in municipal securities.

TO: All NASD Members

ATTN: Operations Officer, Cashier, Fail-Control Department

On January 30, 1986, the United States District Court for the Eastern District of Arkansas appointed a SIPC Trustee for the above-captioned firm. Previously on January 28, Richard Smith, Esquire had been appointed a Trustee under Chapter 7 of the Bankruptcy Act.

TO: All NASD Members and Other Interested Persons

LAST DATE FOR COMMENT: MARCH 26, 1986

The amended NASD Rules of Fair Practice, proposed by the NASD's Ad Hoc Committee on Rule and By-Law Amendments, which reviews and revises the NASD's By-Laws, rules and interpretations, are attached for comment by members and other interested persons.

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

On Tuesday, February 18, 1986, 22 issues are scheduled to join the NASDAQ National Market System, bringing the total number of issues in NASDAQ/NMS to 2,246. These 22 issues, which will begin trading under real-time trade reporting, are entering the NASDAQ/NMS pursuant to the Securities and Exchange Commission's criteria for voluntary designation.

The 22 issues scheduled to join NASDAQ/NMS on Tuesday, February 18, 1986, are:

TO: All NASD Members and Other Interested Persons

TO: All NASD Members, NASDAQ Issuers and Other Interested Persons

LAST DATE FOR COMMENT: MARCH 23, 1986