STIPULATED AWARD NASD Dispute Resolution In the Matter of the Arbitration Between Name of Claimant Ronald L. Wence and Shirley A. Wence and 03-01002 Phoenix, Arizona Name of Respondents Merrill Lynch Pierce Fenner & Smith, Inc. Raj K. Kohli Nature of the Dispute: Customer vs. Member and Associated Person. REPRESENTATION OF PARTIES Ronald L. Wence and Shirley A. Wence ("Claimants") were represented by Bruce R. Heurlin, Esq., Karp Heur

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Names of the Claimants Case Number: 03-01000 Anthony S. Constantinou, Kathleen N. Constantinou and Norman S. Palazini Name of the Respondent Hearing Site: Tampa, Florida A. Ch. Securities, Inc. Nature of the Dispute: Customer vs. Member. REPRESENTATION OF PARTIES For Anthony S. Constantinou (A. Constantinou), Kathleen N. Constantinou (K. Constantinou) and Norman S. Palaz

03/11/03 MON 09:33 FAX NASD REGULATION E1002 Award NASD Dispute Resolution In the Matter of the Arbitration Between: Name of the Claimant/Counter Respondent Case Number: 03-00994 William Blair & Company, LLC Name of the Respondents/Counter Claimants Hearing Site: Chicago, Illinois James L Arado, Robert C. Bridges, Thomas S* Bridges, John P. Huber, Mortimer G. Huber, Richard S. Kaplan, and Geneva Investment Management REPRESENTATION QF PARTIE

NASD Dispute Resolution, Inc. Arbitration No. 00-04403 Award Page 1 STIPULATED AWARD NASD Dispute Resolution Inc, In the Matter of the Arbitration Between Name of Claimant DEAN WITTER REYNOLDS, INC. (now known as MORGAN STANLEY DW, INC.) Name of Respondent JUSTIN W. HERMAN NASD ARBITRATION CASE NO. 00-04403 REPRESENTATION OF PARTIES Claimant Dean Witter Reynolds, Inc. (now known as Morgan Stanley DW, Inc, ("Claimant") was rep

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Paul DeMarco (Claimant) v. Nomura Securities International, Inc. (Respondent) Case Number: 03-00990 Hearing Site: New York, New York Nature of the Dispute: Associated Person vs. Member. REPRESENTATION OF PARTIES Claimant Paul DeMarco ("DeMarco") hereinafter referred t$ as "Claimant": Peter C. Lucas, Esq., Lucas & McGoughran, LLC, Oakhurst, NJ. Respondent Nomura Securities Intern

Stipulated Award NASD Dispute Resolution In the Matter of the Arbitration Between: Names of the Claimant Case Number: 03-00989 Joan demons, Individually And as Executrix of the Estate of Mildred Petro Names of the Respondents Hearing Site: Pittsburgh, PA Citigroup Global Markets, Inc. 17n/a Salomon Smith Barney, Inc. and Joseph Procopio Nature of the Dispute: Customers vs. Member and Associated Person REPRESENTATION OF PARTIES Claimant,

r Award NASD Dispute Resolution In the Matter of the Arbitration Between: Names of the Claimants Case Number: 03-00986 Elwood E. and Fern O. Rowe JTWROS Names of the Respondents Hearing Site: Tampa, Florida Merrill Lynch, Pierce, Fenner & Smith, Inc. and Perry Switzer Nature of the Dispute: Customer vs. Member and Associated Person. REPRESENTATION OF PARTIES For Elwood E. and Fern O. Rowe JTWROS, hereinafter collectively referred to as "Clai

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Names of the Claimants Case Number: 03-00983 Ronald Summers Peter McLaughlin Names of the Respondents Hearing Site: Boca Raton, FL Prudential Securities, Inc. Joseph Grippi Nature of the Dispute: Associated Person vs. Member and Associated Person. REPRESENTATION OF PARTIES For Ronald Summers and Peter McLaughlin, hereinafter collectively referred to as "Claimants": D

AWARD NASD Dispute Resolution In the Matter of the Arbitration Between Name of Claimant/Counter-Respondent Robert W. Baird & Co., Inc. and Name of Respondent/Counter-Ciaimant Michael A. Pino Case Number: 03-00980 Hearing Site: Southfield, Michigan NATURE OF DISPUTE Member Firm v. Associated Person and Associated Person v. Member Firm REPRESENTATION OF PARTIES Robert W. Baird & Co., Inc. ("Claimant") was represented by Brian Trexell,

AWARD NASD Dispute Resolution In the Matter of the Arbitration Between Name of Claimant * Robert W. Baird & Co., Inc. , and ' Case Number. 03-00978 Hearing Site: Detroit, Michigan Name of Respondent Michael A. Marcum REPRESENTATION OF PARTIES Robert W. Baird & Co., Inc. ("Claimant") was represented by Moira K. Moran, Esq., and Brian D. Trexell, Esq., Robert W. Baird & Co, Inc., Milwaukee, Wisconsin. \ Michael A. Marcum("Respondent")