AWMtt) MX3D aggTJTJlTIQM. IMC.. OFFICE OF PISPPTB RESOLUTION In the matter of the Arbitration Between ' Name of Claimant: fa) Susie Tsang Aaron Tsang Arbitration No. 96-04501 Kama of Respondent(a) Smith Barney Shearson Inc. REPRESENTATION For Claimants: Susie Tsang and Aaron Tsang, Duarte, California 1 -' For Respondent: Dena L. Murphy/ Esq., Keesal, Young & Logan, Long Beach, Cali fornia CASE IHFQRMATTQH Statement of

AWARD NASD REGULATION, INC.. OFFICE OF DISPUTE RESOLUTION In the matter of the Arbitration Between Name of Claimants) Susie Tsang Aaron Tsang v. Arbitration No. 96-04500 Name of Respondent^ Quick and Reilly, Inc. REPRESENTATION OF PARTIES For Claimant: Susie^Tsang, Sa For Respondent: Dean Urbanski, Quick and Reilly, Inc., Los Angeles, California CASE INFORMATION Statement of Claim filed: October 10, 1996 Claimants' Submission

AWARD NASD REGULATION. INC.. OFFICE OF DISPUTE RESOLUTION In the matter of the Arbitration Between Name of Claimant^ Geoffrey Sher and Charlene Sher, Individually and as Trustees of the Sher Living Trust Dated 10/30/80, v. Arbitration No. 96-04492 Name of Respondents') Donaldson, Lufkin & Jenrette Securities Corp. Seth Radow REPRESENTATION For Claimants: David W. Studley, Esq., San Francisco, California For Respondents: Susan L.

NASD REGULATION AWARD In the Matter of the Arbitration Between Name of Claimant John F. Smithgall 96-04487 Names of Respondents Investors Associates, Inc Michael W. Hawkins REPRESENTATION For Claimant John F. Smithgal! ("claimant") appeared David L. Turner, Esq. of the law offices Schulten Ward & Turner located in Atlanta, Georgia. For Respondent Investors Associates, Inc. ("lAI"), appeared M. David Sayid, Esq. of the law offices Sayid &

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Alice P. Whaley 96-04481 Name of Respondent^ Cohig &. Associates, Inc. Doyle Scott Elliott REPRESENTATION For Claimant: Elihu H. Bennan, Esq. of the law firm of Berman & Hobgood, P. A., Clearwater, Florida. For Respondent Cohig & Associates, Inc. ("Cohig"): Russell K. Bean, Esq., General Counse1,-t6hig. " -- - , The Respond

NASD REGULATION, INC. AWARD NASD REGULATION, INC., Office of Dispute Resolution Matt Kasap, ) Claimant ) v. ) Case No. 96-04478 Folger Nolan Fleming ) Douglas Inc. and ) Joseph Anderson, ) Respondents ) REPRESENTATION _Claimant Matt Kasap ("Claimant") was represented by'John P. Connolly, Esq., "Law^airnant >fe K.--H- Offices of John P. Connolly, Alexandria, VA. Oiuces of John P. Respondents Folger Nolan Fleming Douglas Inc. ("Folger Nola

NASD REGULATION AWARD In the Matter of the Arbitration Between Name of Claimant •• > * Stephen H. Karelitz 96-04477 Name of Respondent Smith Barney Inc. REPRESENTATION - ->»^^""= i For claimant Stephen H. Karelitz ("claimant") appeared Scott J. Link, Esq. of the law offices - - ^^L^jroan^Liiik &Sartory,P.A. located in West Palm Beach, Florida. " ^" ll " •> por respondent Smith Bamey^ Inc. ("respondent") appeared Jeffrey L. Friedm

NASD REGULATION, INC. STIPULATED AWARD In the Matter of the Arbitration Between Name of Claimant Joseph Franklin 96-04474 Name of Respondents Merrill Lynch Pierce Fenner & Smith Inc David E. Kaplan Gerald J. Litwin REPRESENTATION For claimant Joseph Franklin ("claimant") appeared John P. Cione, Esq., with law offices in Solana Beach, California. For respondents Merrill Lynch Pierce Fenner & Smith Inc. ("Merrill Lynch"), David E. Kaplan

N.A.S.D. REGULATION AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Ronald Steve Blum 96-04466 Name of Respondents A.S. Goldmen & Company, Inc. Thomas Mahan CASE SUMMARY In a case filed with National Association of Securities Dealers Regulation, Inc. on October 7, 19%, claimant Ronald Blum ("claimant"), who appeared Pro Se, alleged that respondents A.S. Goldman & Company, Inc. ("

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant William F. Leahy Name of Respondents D.H. Blair & Company Alfred S. Palagonia Gregory Bellotti 96-04464 CASE SUMMARY In a case filed with the National Association of Securities Dealers Regulation, Inc. on October 7, 1996, claimant William F. Leahy ("claimant") through his representative and son Michael J . Leahy alleged tha