N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimants Francis L. Arthur and Linda Arthur 95-02097 Name of Respondent; Olde Discount Corporation Stan Thomas REPRESENTATION Claimants Francis L. Arthur and Linda Arthur ("claimants") appeared pro se. For respondents Olde Discount Corporation ("Olde") and Stan Thomas ("Thomas") appeared Karen L. Brink, Esq., Corporate Attorney of

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant The Chan Trust, Jerry Yuen Chan, Trustee 95-02094 Name of Respondents Piper Jaffray, Inc. Penny Chin CASE SUMMARY In a claim filed with the National Association of Securities Dealers, Inc. on May 2, 1995, Claimant The Chan Trust, Jerry Yuen Chan, Trustee, who appeared Pro Se, alleged that Respondents Piper Jaffray, Inc. ("P

N.A.S.D. AWARD « NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Hamilton Investments, Inc. vs. 95-02091 Name of Respondent Jeffrey S. Olsen REPRESENTATION Claimant, Hamilton Investments, Inc. ("Hamilton") was represented by Steven Gomberg, Esq. of Gomberg Kane & Fischer of Chicago, Illinois. Respondent, Jeffrey S. Olson ("Olson"), was represented by Steven Rau, Esq. of Minneapolis,

Stipulated Award NASD Dispute Resolution, Inc. In the Matter of the Arbitration Between nf r*lafmmt Vernon G. Butler Case No. 01-01902 Michael S. McGeehan, William Keats Nicoll and Merrill Lynch, Pierce, Fenner & Smith Inc. OP Claimant Vernon G. Butler ("Claimant") was represented by Mark C. Hayes, Esq. of the law firm of Carter, Fullerton & Hayes, LLC, Alexandria, Virginia. Respondents Michael S. McGeehan ("McGeehan"), William Keats Nicoll

NASD REGULATION, INC. AWARD NASD REGULATION, INC. In the Matter of the Arbitration Between Name of Claimant Victoria L. Holmes 95-02084 Name of Respondents S.G. Warburg & Co. Stephen Berthold Feid REPRESENTATION For Claimant, Victoria L. Holmes ("Claimant") appeared Clinton W. Calhoun, III, Esq. of the law firm Birccetti & Calhoun located in White Plains, New York. For Respondents, S.G. Warburg & Co. ("Warburg") and Stephen Berthold Feid

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS » * ' In the Matter of the Arbitration Between Name of PaineWebber. Inc. 95-02081 Name of Respondent Robert Kelly REPRESENTATION For Claimant, PaineWebber, Inc., Stephanie Morse-Sharnosh, Esq., in-house counsel for PaineWebber, Inc. located in Weehawken, New Jersey. Respondent, Robert Kelly, did not appear at the evidentiary hearing conducted in this matter. CASE INFORMATION

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between of Claimant Kevin L. Doss Name of Respondent 95-02079 Merrill Lynch, Pierce, Fenner & Smith, Inc Name of Third Party Respondent Dean Witter Reynolds Inc. REPRESENTATION For Claimant Kevin L. Doss ("Claimant") and Third Party Respondent Dean Witter Reynolds Inc. ("Dean Witter") appeared Kenneth A. Bravo, Esq. from the law firm of Ulmer & Berne

NASD AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. In the Matter of the Arbitration Between PaineWebber Incorporated, Claimant, v. No. 95-02077 REPRESENTATION OF PARTIES PaineWebber Incorporated ("Claimant") was represented by Lisa Catalano Tillem, Esq., of PaineWebber Incorporated, Weehawken, New Jersey. Raymond Gans ("Respondent") appeared on his own behalf. CASE INFORMATION Claimant's Statement of Claim was filed on or about Apri

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Robert H. Cooper 95-02075 Name of Resoondeng Biltmore Securities Inc. Michael Steinberg CASE SUMMARY In a claim filed with the National Association of Securities Dealers, Inc. on April 28, 1995, Claimant Robert H. Cooper, who appeared Pro Se, alleged that Respondents Biltmore Securities Inc. ("BSI") and Michael Steinberg ("

N.A.S-D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In [he Matter of the Arbitration Between *, Name of Claimant Atlantic Business Group.Inc; 95-02073 Name of Respondents Smith Barney Shearson, Inc. William H. Tierney CASE SUMMARY In a claim filed with the National Association of Securities Dealers, Inc. on April 28, 1995, Claimant Atlantic Business Group, Inc. ("Claimant"), through its representative and President, Michael J. Feen