Stipulated Award NASD Dispute Resolution In the Matter of the Arbitration Between: Nick Korneff and Nadia Korneff, Claimants v. Merrill Lynch, Pierce, Fenner & Smith Inc. and Susan L. Evans, Respondents Case Number: 04-00729 Hearing Site: Los Angeles, California Nature of the Dispute: Customers v. Member and Associated Person REPRESENTATION OF PARTIES For Claimants: Timothy A. Canning, Esq. Attorney At Law Novato, California For Respondents

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Aldo Pace and Ronald Pace (Claimants) v. Morgan Stanley DW, Inc., Prudential Equity Group, LLC f/k/a Prudential Securities, Inc. and Pasquale Capone (Respondents) v. David Pace (Third- Party Respondent) Case Number: 04-00721 Hearing Site: New York, New York Nature of the Dispute: Customers vs. Members and Associated Person (Initial Claim). Member vs. Associated Person (Third-Party C

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Ryan Beck & Co., Inc. (Claimant) v. Lawrence Ferrari (Respondent) Case Number: 04-00717 Hearing Site: New York, New York Nature of the Dispute: Member vs. Associated Person. REPRESENTATION OF PARTIES Claimant Ryan Beck & Co., Inc. ("Ryan Beck") hereinafter referred to as "Claimant": Kenneth O'Connor, Esq. of Lubiner & Schmidt, previously represented by David W. Schmidt, Esq., Lu

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Fahnestock & Co., Inc. (Claimant) v. Gary B. Bickham (Respondent) Case Number: 04-00713 Hearing Site: New York, New York Nature of the Dispute: Member vs. Associated Person. REPRESENTATION OF PARTIES Claimant Fahnestock & Co., Inc. ("Fahnestock") hereinafter referred to as "Claimant": Cory M. Sobel, Esq., Oppenheimer & Co., New York, NY. Respondent Gary B. Bickham ("Bickham") ap

NASD DISPUTE RESOLUTION AWARD NASD DISPUTE RESOLUTION CASE: 04-00711 Gerard and Jacqueline Veziers, Claimants v. Morgan Stanley DW, Inc. and Caroline Mellema, Respondents ATTORNEYS: Claimants Gerard and Jacqueline Veziers (collectively "Claimants") appeared pro se, L'Hay Les Roses, France. For Respondents Morgan Stanley DW, Inc. and Caroline Mellema (collectively "Respondents") appeared Harrison A. Kaufman, Esq., in-house counsel, Morgan Stanley DW,

AWARD NASD Dispute Resolution In the Matter of the Arbitration Between Names of Claimants Charlotte H. Kovacs, Robin Howard, Robert O. Koch, Jonell Y. Raborn, and James R. Raborn and Case Number: 04-00705 Hearing Site: Houston, Texas Names of Respondents First Union Securities, Inc. n/k/a Wachovia Securities, Inc., Josephine Anne Otey, Ian Hurwitz, and Michael Steven Dudman NATURE OF DISPUTE Customers v. Member Firm and Assoc

Award NASD Dispute Resolution, Inc. In the Matter of the Arbitration Between: Richard O. Kraemer, Claimant v. Merrill Lynch, Pierce, Fenner and Smith, Inc., Jerry Frigon, and Keith Virnoche, Respondents Case Number: 00-05606 Hearing Site: San Francisco, California REPRESENTATION OF PARTIES For Claimant: David W. Studley, Esq. Law Offices of David W. Studley San Andreas, California For Respondents: Philip A. McLeod, Esq. Julie A. Kole, Esq.

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Bruce L. Maltz, M.D., Bonnie L. Maltz, Bruce L. Maltz, M.D., A Professional Corporation, The Bruce L. Maltz, M.D. A.P.C. Profit Sharing Plan, Bruce L. Maltz IRA, and Bruce L. Maltz, M.D. Defined Benefit Plan, Claimants v. Keith Virnoche, Gerard Frigon, and Merrill Lynch Pierce Fenner & Smith, Inc., Respondents Case Number: 04-00700 Hearing Site: San Francisco, California Nature of t

NASD DISPUTE RESOLUTION AWARD NASD DISPUTE RESOLUTION CASE: 04-00695 Devendra Raythatha, Claimant vs. Prime Capital Services, Inc. and David Walsh, Respondents ATTORNEYS: ~" ~~ ~~ Claimant Devendra Raythatha, ("Claimant"), appeared pro se, San Francisco, CA. For Respondents Prime Capita] Services, Inc. and David Walsh, ("Respondents"), appeared Fred N. Knopf, Esq., of the firm Wilson, Elser, Moskowitz, Edelman & Dicker, LLP, White Plains, NY. NATURE

NASD DISPUTE RESOLUTION AWARD NASD DISPUTE RESOLUTION CASE: 04-00694 Pamela Kimball, Claimant vs. UBS Financial Services, Inc., Respondent. ATTORNEYS: Claimant, Pamela Kimball, ("Claimant") appeared pro se, Palo Alto, CA. Respondent, UBS Financial Services, ("Respondent") appeared through its in-house counsel, Andrew J. Melnick, Esq., Weehawken, NJ. NATURE OF DISPUTE: Customer vs. Member. DATE FILED: February 2, 2004. CASE SUMMARY: Claimant alle