Arbitration National Association of N.A.S.D. AWARD Securities Dealers, Inc. NASD Financial Center 33 Whitehall Street NATIONAL ASSOCIATION OF SECURITIES DEftlERS New York ' New York 10004 In the letter of the Arbitration Between Name of Claimant Janes D. Kurfess 91-01382 of Respondents Johnston, Lemon & Co* Inc. For Claimant: Claimant appeared pro se. For Respondents Respondent was represented by Douglas K. Spaulding, Esq

PUBLIC Arbitration N.A,S.D. AWARD ASSOCIATION OF SHJUK1T1ES DEALERS In. the Matter of the Arbitration Between Of National Associate Securities Dealers. NASD Financial Cer 33 Whitehall Street New York, N.Y. 100C FAX(212)858-438£ FaineWefcber, me. vs. Case # 91-01381 Amos Glle For Claimant: Edward Werner, Esq., in-houae counsel. For Respondent: Pro se. Statement of Claim filed: May 01, 1591. Claimant's Submi

NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC, In the Matter of the Arbitration Between Robert & Francine Bernstein Philip Schneider Claimants vs. Century Financial Securities, Inc. Respondent CONSOLIDATED WITH CASE #91-01525 AWARD CASE SUMMARY In a claim filed with the National Association of Securities Dealers, Inc. on May 1, 1991, Claimants, Robert & Francine Bernstein, through their counsel, Jeffrey A. Thurnau, Esq., De

PUBLIC NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. CASE #91-01371 AWARD In the Matter of the Arbitration Between Neal L. Ray Claimant vs. J. W. Gant & Associates, Inc. John Leniart Respondents CASE SUMMARY In a claim filed with the National Association of Securities Dealers, Inc. on May l, 1991, Claimant, Neal L. Ray, who appeared Pro Se, alleged that on February 16, 1991, Respondent John Leniart, a registered representa

__ N.A.S.D. AWARD NATIONAL AfiflOCIATlCN OP SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Connie J. I-aPrum 91-01370 Name of PUBLIC Merrill Lynch, Pierce, Fenner & anith Inc Bruce Ciallella For Claimant: Frederick Klepp, Esq. of Frederick Klepp law Offices. For Respondents: Christopher Cavuoti, Esq. of Merrill Lynch, Pierce, Fenner & Smith, Inc. Statement of Haim filed on: April 29, 1991. Claimant's

N.A.S.D. AWARD NATIONAL ASSQCTATTON OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimants James D. Adams Winona T. Adams NASD Arbitration No. 91-01366 Name of Respondents IDS Financial Services Inc. Stanley Tobias REPRESENTATION For CFaimant: In Pro Se For Respondent: Ellen B. Politano, Esq. - Honolulu, Hawaii CASE INFORMATION Statement of Claim filed: May 1, 1991 Claimants' Submission Agreement

N.A.S.D. AWARD NKEICMMi ASSOCXATICN OF SECURITIES OEAIERS In the Matter of the Arbitration Between NanoeofCladjiBnts Robert J. Rowley, President of Robert J. Rowley & Go. , Inc. , and Trustee for the Robert J. Rowley & Co. Defined Benefit Retirement Trust 91*01365 FaineMebber, Inc. Timothy O. p. Nicholson For Claimants: Mark E. Maddzx, Esq. of Oyyg & Saint, fr For Respoodents: Patrick J. Howley, Esq. of PaineMetber, IDC. Weebawfcen,

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Mildred Sayer, Ann Kumstat Executrix 91-01361 Name of Respondents Monmouth Investments Inc. Ron Sarno REPRESENTATION For Claimant: Casper P. Boehm, Jr., Esq. a sole practitioner. For Respondent, Ron Sarno: Jerry Selvers Esq. of Sonnenblick, Parker & Selvers. For Respondent, Monmouth Investments, Inc.: Sena Hussain. CASE

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Fabio Pasquesi and Christopher Knutson, (Claimants) vs. Burlington Capital Markets, Inc., (Respondent) Case Number: 01-01831 Hearing Site: New York, New York REPRESENTATION OF PARTIES Claimants, Fabio Pasquesi ("Pasquesi") and Christopher Knutson ("Knutson"), hereinafter collectively referred to as "Claimants": Neal Brickman, Esq., The Law Offices of Neal Brickman, New York, NY.

N.A.S.D. AWARD >i NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between \ \ \ Name of Claimants " . - Margit R. Krauel and William R. Krauel 91-01353 Name of Respondents First Investors Corporation Raphael J. Schnelly *" *"" REPRESENTATION OF PARTIES For Claimants Margit Krauel and William Krauel: Mark J. Briol, Esq. of Briol and Wilmes, Minneapolis, Minnesota. For Respondents First Investors Corpora