Award NASD Dispute Resolution In the Matter of the Arbitration Between: Carol B. Mann as Trustee of the C. Boetger Mann Family Trust and as Custodian for Alexander M. Mann, Claimant v. Higgins Capital Management, Inc. and Raymond L. Higgins, Respondents Case Number: 01-02779 Hearing Site: San Diego, California REPRESENTATION OF PARTIES For Claimant: Jonathan A. Boynton, Esq. Post Kirby Noonan & Sweat, LLP San Diego, California For Respondents: G

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS. INC. In the matter of the Arbitration Between Name of Michael Galeck NASD Arbitration No. #93-03859 Name of Cruttenden 2c Company Larry Butler REPRESENTATION For Claimant: Gary L. Gebler, Esq., Irvine, California For Respondents: John R. Loftus, Keesal, Young and Logan, Long Beach, California CASE INFORMATION Statement of Claim filed: September 20, 1993 Claimants' Submiss

NATIONAL ASSOCIATION OF SECURITIES DEALERS AWARD In the Matter of the Arbitration Between James S. Kelly and Patricia A. Sullivan Claimants, v. NASD No. 93-3858 Prudential Bache Securities and Robert J. Shull, Respondents. Representation For Claimants: Jules Federman of Investors Rights Association, Santa Barbara, California For Respondents: E. Scott Douglas, Esq. of Keesal, Young & Logan, Long Beach, California Case Information Stat

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. In the matter of the Arbitration Between Name of Claimant Dean Witter Reynolds, Inc. NASD Arbitration No. 93-03855 Name of Respondent Tatiana Galley REPRESENTATION For Claimant: G. Thomas Fleming HI, Esq., Jones, Bell, Simpson & Abbott, Los Angeles, California For Respondent: H Thomas Fehn, Esq., Fields, Fehn & Sherwin, Los Angeles, California CASE INFORMATION Statem

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS. INC. In the matter of the Arbitration Between r)f Claimants NASD Arbitration Steven and Charlene Snoop No. 93-03846 Hondo Electric, Inc. v. Name of Respondents Capital Analysts, Inc. Edward P. Williams REPRESENTATION For Claimants: Franklin Geerdes, Esq. - Atherton, Allen & Geerdes, Chula Vista, California For Respondents: Elizabeth A. Sellung, Esq. • Mungcr, Tolles & Olson, Los

. N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Excel International, Inc. © National Association of s, Inc. 1995 All Rights Reserved 93-03845 Names of Respondents Kevin Mahon Richard Guiilot Sheldon Kraft Eric Emanuel Emanuel & Co. REPRESENTATION For Excel Inteinational, Inc. ("Claimant") appeared Thomas J. Hanrahan, Esq., a sole practitione

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Morgan Keegan & Co., Inc. 93-04394 Name of Respondent Robert Cariddi CASE SUMMARY In a claim filed with the National Association of Securities Dealers, Inc. on October 25, 1993, Claimant Morgan Keegan & Company, Inc., through its in-house counsel, David M. Minnick, Esq., alleged that Respondent Robert Cariddi has failed to pay

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Patsy J. Bischoff 93-04393 Name of Respondents Merrill Lynch, Pierce Fenner & Smith, Inc.; Donald Zandstra REPRESENT ATION For Claimant: Patsy J. Bischoff ("Bischoff") was represented by Alan D. Penskar, Esq. of Smith, Harris & Goyette, located in Flint, Michigan. For Respondents: Merrill Lynch, Pierce Fenner & Smith, Inc.

PUBLIC N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimants) Iris Solow 93-04386 Name of Respondents) Cohig & Associates, Inc. Marc Canatella Kenneth M. DeVane Scott Elliot Kober Financial Corporation REPRESENTATION For Claimant Iris Solow: Walter D'Ull, Esq., New York, NY. For Respondents: Cohig and Associates, Inc.: David H. Drennen, Esq., Englewood, CA.

NASD AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. In the Matter of the Arbitration Between Name of Claimant PaineWebber, Inc. and 93-04374 Name of Respondent Michael S. Cox REPRESENTATION OF PARTIES PaineWebber, Inc. ("Claimant") was represented by Edward P. Degenhardt, Esq., PaineWebber, Inc., Weehawken, New Jersey. Michael S. Cox ("Respondent") was represented by Gerald P. Ferguson, Esq., Vorys, Sater, Seymour and Pease, Colu