N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimants Rachel and Carter Williams and Carter Williams, Inc. Case No. 93-04032 vs. Name of Respondents Prudential Securities Inc Joseph A. Carter, Jr. REPRESENTATION For Claimants: Rachel & Carter Williams and Carter Williams, Inc. ("Claimants"), Peter Rohana, Esq., located in Media, Pennsylvania. For Respondents: Prudenti

NASD REGULATION, INC. AWARD In the Matter of the Arbitration Between Name of Claimant Linda E. LaPrade vs. Case No. 93-04030 Name of Respondent Kidder, Peabody & Co., Incorporated REPRESENTATION For Claimant Linda E. LaPrade ("Claimant") appeared Jeffrey L. Liddle, Esq. of the firm Liddle & Robinson, located in New York, New York. For Respondent Kidder, Peabody & Co., Incorporated ("Respondent") appeared Andrew J. Schaffran, Esq. of

NATIONAL ASSOCIATION OF SECURITIES DEALERS AWARD In the matter of the Arbitration Between JOHN R. WILSON, JOHN R. WILSON, Executor of the Estate of Dorothy R. Wilson, JOHN R. WILSON, Administrator of the Estate of Herbert S. Wilson, Claimant, v. NASD No. 93-04027 CHARLES SCHWAB & CO., Respondent. Representation For Claimant: David Weilbacher, Esq., Arroyo Grande, California For Respondent: Mark Drooks, Esq. of Bird, Marella, Boxer, Wolpe

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Robert E. Karoly 93-03999 Name of Respondent J.W. Charles Securities,Ine. REPRESENTATION For Claimant, Robert E. Karoly ("Karoly"): Russell L. Forkey, Esq., Dumar, Curtis, Cross, Laystrom & Perloff, Fort Lauderdale, Florida. For Respondent, J.W. Charles Securities, Inc. ("J.W. Charles"): Gregg Glaserof J.W. Charles Securiti

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Names of Claimants Bert E. and Florence V. Benson 93-04019 Names of Respondents Shearson Lehman Brothers, Inc. and Charles J. Sjostrom, Jr. REPRESENTATION Claimants, Bert E. and Florence V. Benson ("Bensons") were represented by Bruce Pearson of Fargo, North Dakota. Respondents, Shearson Lehman Brothers, Inc. ("Shearson") and Charles J. Sjo

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimants Sherman Borkan and Rene Holland Borkan TTEE's of the Borkan Family Trust 93-04018 Name of Respondent Merrill Lynch Pierce Fenner & Smith, Inc. CASE SUMMARY In a claim filed with the National Association of Securities Dealers, Inc. on October 4, 1993, Claimants Sherman Borkan and Rene Holland Borkan TTEE's, who appeared Pro Se,

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Sharon Occhiuto 93-03998 Name of Respondents Investacorp, Inc. David Lee REPRESENTATION For Claimant, Sharon Occhiuto ("Occhiuto"): Ralph Occhiuto, Heathrow, Florida. For Respondent, Investacorp ("Investacorp"): Charles D. Miner, Esq., Orlando, Florida. For Respondent, David Lee ("Lee"): See "Other Issues" CASE INFORMAT

NATIONAL ASSOCIATION OF SECURITIES DEALERS AWARD In the matter of the Arbitration Between Carroll C. Rogers Carroll C. Rogers Revocable Trust & IRA Claimant NASD Arbitration No. 93-03997 v. Dean Witter Reynolds, Inc. Ervin Booker Respondents REPRESENTATION For Claimant: Stephen Berger, Esq., Greenbaum & Ferentz, Newport Beach, California For Respondent Dean Witter Reynolds: David P. Restaino, Esq., San Francisco, California Respo

NATIONAL ASSOCIATION OF SECURITIES DEALERS AWARD In the Matter of the Arbitration Between RICHARD ORTALE and STEPHANIE ORTALE, Claimants, v. NASD No. 93-3994 DEAN WITTER REYNOLDS, INC. Respondent Representation For Claimant: Dennis Merenbach, Esq. and J. Leo Federman of Investors Rights Association Santa Barbara, California For Respondent: Timm Verduin, Esq. of Dean Witter Reynolds, Inc., San Francisco, California Case Information

NASD AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. In the Matter of the Arbitration Between Name of Claimant Rick True and 93-03986 Name of Respondent Kober Financial Corp. REPRESENTATION OF PARTIES Rick True ("Claimant") was represented by Michael J. Turner, Esq., Branney, Hillyard and Portman, Denver, Colorado. Kober Financial Corp. ("Respondent") was represented by Peter N. Bowinski, Kober Financial Corp., Englewood, Colorado