Stipulated Award NASD Dispute Resolution, Inc. In the Matter of the Arbitration Between: Malcolm D. Paul, individually and on behalf of Malcolm D. Paul IRA and Pamela Paul, Claimants v. Stone and Youngberg, LLC and Samuel F. Russell, Respondents Case Number: 00-02349 Hearing Site: Los Angeles, California REPRESENTATION OF PARTIES For Claimants: Jeff Dennis Ferentz, Esq. Greenbaum & Ferentz LLP Newport Beach, California For Respondents: John R. L

NASD REGULATION, INC. AWARD In the Matter of the Arbitration Between Name of Claimant Rocco Falcomato 97-05301 Name of Respondents Smith, Benton & Hughes, Inc. Stephen Hession REPRESENTATION For Claimant Rocco Falcomato ("Claimant") appeared John B. Swift, Esq., located hi Highland Mills, New York. Respondent Smith, Benton, & Hughes, Inc. ("Smith") was represented by Mike Zaman, President of Smith, Benton & Hughes, located in Woodlan

NASD REGULATION, INC. AWARD In the Matter of the Arbitration Between Name of Claimant Albert Sutton, M.D. vs. Case No. 97-05299 Name of Respondents George B. Levine Paragon Capital Corp. REPRESENTATION For Claimant Albert Sutton ("Claimant") appeared David E. Robbins, Esq. of the law offices Kaufmann, Feiner, Yamin, Gildin & Robbins, LLP. located in New York, New York. For Respondents George B. Levine ("Levine") and Paragon Capital (

AWARD NASD Regulation, Inc. CASE: 97-05295 Robert Perry, claimant vs. Murphey Marseilles, Smith & Nammack, Inc. and J.B. Oxford & Company, respondents. ATTORNEYS: Claimant appeared Pro Se - Palestine, TX. Respondent Murphey, Marseilles, Smith & Nammack did not enter an appearance in this matter. Respondent J.B. Oxford & Company appeared through its President, Albert R. Laubenstein - Beverly Hills, CA. DATE FILED: November 7, 1997 CASE SUMMAR

AWARD NASD Regulation, Inc. In the Matter of the Arbitration Between Name of Claimant Randy D. Brehne 97-05294 Name of Respondent Prudential Securities, Inc. REPRESENTATION For Claimant: Curtis Carlson, Esq. of Carlson & Bales, Miami, Florida. For Respondent: Bradford D. Kaufman, Esq. of Steel Hector & Davis, West Palm Beach, Florida. CASE INFORMATION Statement of Claim filed on: November 7, 1997, Claimant's Submission Agreement

AWARD NASD REGULATION. INC. In the matter of the Arbitration Between Name of Claimants Rogue de la Fuente II, and KYDDLF & RDLFG FT No. 1, LLC. v. Arbitration No. 97-05291 Name of Respondents Merrill, Lynch, Pierce, Fenner and Smith Inc., and Jorge R. Guerra REPRESENTATION For Claimants: Craig B. Barkacs, Esq. and Linda L. Barkacs, Esq. Barkacs & Barkacs San Diego, California For Respondents Merrill, Lynch, Pierce, Fe

Award NASD Regulation, Inc. In the Matter of the Arbitration Between: Kurt Novey Claimant vs. Jeffrey Friedensohn Respondent/Third Party Claimant vs. Kurt Novey, Barton Chase Securities and RAF Financial Corp. Inc., Third Party Respondents. Case Number: 97-05282 Hearing Site: Dallas, Texas REPRESENTATION OF PARTIES Claimant, ("Kurt Novey"): Robert L. Yeager, III, Law Offices of Robert L. Yeager III, Dallas, Texas Respondent, Barren Chase Securities

AWARD NASD Regulation, Inc. In the Matter of the Arbitration Between Name of Claimants Richard L. Goren and Alan F. Hark, Administrator of the Estate of Louis Goren 97-05277 Name of Respondents Merrill Lynch Pierce Fenner & Smith, Inc. Merrill Lynch & Co., Inc. REPRESENTATION For Claimant: John N. Salla, Esq., Salla & Associates, Philadelphia, PA For Respondent: Edward I. Swichar, Esq., Blank Rome Comisky & McCauley, Philadelphia, PA

NASD REGULATION, INC. AWARD In the Matter of the Arbitration Between Name of Claimant Alice Wechsler vs. Case No. 97-05276 Name of Respondents Alan Cohen John Joseph Lee REPRESENTATION For Claimant Alice Wechsler ("Claimant") appeared Barry R. Fertel, Esq. of the firm Roper, Barandes & Fertel, LLP, located in New York, New York. For Respondent Alan Cohen ("Cohen") appeared Eric Rosenberg, Esq. of the firm Ziegler, Ziegler & Altma

NASD REGULATION, INC. AWARD NASD REGULATION. INC.. OFFICE OF DISPUTE RESOLUTION In the matter of the Arbitration Between Name of Claimants Albert and Iva Rutledge v. Name of Respondent Gisela Schulz Arbitration No. 97-05274 REPRESENTATION For Claimants: For Respondent: Statement of Claim filed: Albert and Iva Rutledge In pro per California City, California Eric Berg, Esq. Zelle and Larson, LLP Los Angeles, Cal