Brentwood Securities, Inc. 11487 Wilshire Boulevard, 3rd Floor Los Angeles, California 90025

TO: All NASD Members

ATTN: Operations Officer, Cashier, Fail-Control Department

On February 7, 1985, the United States District Court for the Central District of California 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.

Questions regarding the firm should be directed to:

SIPC Trustee

Securities Investor Protection Corporation
Attention: William H. Seckinger, Esquire
900 Seventeenth Street, N. W., Ste. 800
Washington, D. C. 20006
Telephone: (202) 223-8400.