N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In che iMatter of the CCNSOLTDATED Arbitrations B Janes B. Aldrich, as Trustee of the Frank C. Layng and Alice M. Layng Trusts James B. Aldrich tfcrgaret Layng Aldrich William C. Elliott, Jr. William Jeffrey Komlo Jennifer Aldrich Kdmlo Kidder, Peabody & Co., Inc. Robert F. Kurtz, Jr. Resondents 90-00518 90-00913 90-01007 James B. Aldrich Margaret Layng Aldrich

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the GCMSOLIDATEn Arbitrations Between James B. Aldrich, as Trustee of the Frank C. Layng and Alice M. Layng Trusts James B. Aldrich Margaret Layng Aldrich William C. Elliott, Jr. William Jeffrey Komlo Jennifer Aldrich Komlo 90-00518 90-00912 Kidder, Peabody & Co., Inc. Robert F. Kurtz, Jr. Resondents 90-01007 James B. Aldrich Margaret Layng Ald

Arbitration N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between National Association of Securities Deafen, Inc. NASD Financial Center 33 Whitehall Street New York, New York 10004 Richard and Beatrice Tamburri Richard Delatore vs. 90-00341 Consol. w/ 9*410*2 Prudential Securities Inc. Prudential-Bache Agriculture, Inc. For Claimants: Timothy L. Bouscaren, Esq. For Resp

Arbitration N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between National Association of Securities Dealers, Inc. NASD Financial Center 33 Whitehall Street New York, New York 10004 Richard and Beatrice Tamburri Richard Delators VS. Name of Respondents Prudential Securities Inc. Prudential-Bache Agriculture, Inc. 90-00341 Consol. w/ For Claimants: Timothy L. Bouscaren, Esq.

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Among Name ojf Claimanjg Paul A. Duke, Jean F. Duke, Paul A. Duke, Jr., C. Hunter Tison, Laura D. Tison, Ruth Strickland, Herb Strickland, Jon A. Pirtle and Paul A. Duke, trustee for Terri L. Strickland, . Ronald G. Green and Matthew H. Patton Consolidated Case Numbers 1 90-00460 90-00461 91-00116 Name of Respondents Marshall & Co., Inc.; M

'It N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Among Name p_f Claimants Paul A. Duke, Jean F. Duke, Paul A. Duke, Jr., C. Hunter Tison, Laura D. Tison, Ruth Strickland, Herb Strickland, Jon A. Pirtle and Paul A. Duke, trustee for Terri L. Strickland, . Ronald G. Green and Matthew H. Pattern Consolidated Case Numbers 1 90-00460 90-00461 91-00116 Name of Respondents Marshall & Co.

>» N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Among Name of Claimants Paul A, Duke, Jean F. Duke, Paul A. Duke, Jr., C. Hunter Tison, Laura D. Tison, Ruth Strickland, Herb Strickland, Jon A. Pirtle and Paul A. Duke, trustee for Terri L. Strickland, . Ronald G. Green and Matthew H. Patton Consolidated Case Numbers 1 90-00460 90-00461 91-00116 Name of Respondents Marshall & Co., I

Stipulated Award NASD Dispute Resolution In the Matter of the Arbitration Between: Name of the Claimant Gary T. King flase Number: 04-00158 . nf the Respondents Morgan Stanley DW Inc. David Ayres Hearing Rite- Philadelphia, Pennsylvania Nature of the Dispute: Customer vs. Member and Associated Person. RKPRF.SKNTATTON OF PARTIES Claimant, Gary T. King, hereinafter collectively referred to as "Claimant", was represented by Christopher

N.A.S.D. AJGPD NRHQNRL ASSCdSTICN OF SECURITIES DEALERS In the Matter of the Arbitration. Between of Claimants Olice Burdette Jr. and Carol CCNSOL1DA3ED Williams, Executrix of the CASES Estate of Freddie Williams QQ- 90-01131 of ESC Securities Corporation, Ttanas Michael Murray and Den. Carlos BiroViell, Jr. For CLaiinantss Ellen B. Verges, Esq. of Waring Cox, Memphis, Tennessee. For Reapcnden.tr PSC Securities Corporation: Thomas J.

N.A.S.D. APBCT ASSOdKnCN OF SECURITES DEALERS In the Matter of the Arbitration Between Olice Burdette Jr. and Carol CCK5QLHA3ED Williams, Executrix of the CASES Estate of Freddie Williams QQ ana 90-01131 Name | of Renpcndenta FSC Securities Corporation, Ihomas Michael Murray and Don Carlos Birdwell, Jr. For Claimants: Ellen B. Verges, Esq. of Waring Cox, Memphis, Tennessee. For Respondent, FSC Securities Corporation: Tbanas J