NASD REGULATION, INC. AWARD In the Matter of the Arbitration Between Names of Claimants Mahmoud L Khalil Ali I. Khalil 97-02422 Names of Respondents Olde Discount Corporation Nadia Doh REPRESENTATION Claimants Mahmoud I. Khalil and Ali I. Khalil (collectively "Claimants") appeared pro se. For Respondents Olde Discount Corporation ("Olde") and Nadia Doh ("Don") (collectively "Respondents") appeared Lisa Fildes, Esq., in-house counsel

N.A.S.D. REGULATION AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS REGULATION. INC. CASE: 97-02420 Robert T. Ferrez and Alice Ferrez, claimants v. Merrill Lynch Pierce Fenner & Smith Inc and Paul J. Montessoro, respondents. ATTORNEYS: For Claimants appeared G. Mark Brewer, Esq. - La Jolla, CA. For Respondent Merrill Lynch Pierce Fenner & Smith Inc. appeared John R. Cummings, Esq. - New York, NY. Respondent Paul Jf. Montessoro did not respond.

N.A.SJX REGULATION AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS REGULATION. INC. CASE: 97-02419 Thomas G. EngJebert, claimant v, Datek Securities Corp., respondent. ATTORNEYS: Claimant appeared pro se - Goose Creek, SC. For Respondent appeared Simon S. Kogan, Esq. - New York, NY. DATE FILED: 5/13/97 CASE SUMMARY: Claimant alleged unauthorized trading, breach of fiduciary duty and breach of contract. Claim Data Award Data Claim: $2432.56

AWARD NASD Regulation, Inc. Office of Dispute Resolution In the Matter of the Arbitration Between Name of Claimant David H. Gwaltney and 97-02413 Name of Respondents A. G. Edwards & Sons, Inc. Frank Dogrell REPRESENTATION OF PARTIES David H. Gwaltney ("Claimant") was represented by John J. Heflin, III, Esq., of Bourland, Heflin, Alvarez & Minor, PLC, Memphis, Tennessee. A. G. Edwards & Sons, Inc. ("AGE") was represented by Clay L. Grumke

N.A.S.D. STIPULATED AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between f Caimants Robert E, Vangundy and Mitzi K, Raufti The Vangimdy Trust Fund Dtd 2/12/91 97-02412 Nales Calton & Associates, Inc. Terry Duffiefd REPRESENTATION For Claimants; Jeffrey P. Coleman, Esq. of Clearwater, Florida. For Respondent Calton & Associates, Inc. ("Calton"): Mark M. Mercier of Gallon. Respondent Terry Duffteld

NASD Dispute Resolution, Inc. In the Matter of the Arbitration Between Name of Claimant First Tennessee Brokerage, Inc. Case No. 00-01991 Name of Respondent Debby Emison Earnest REPRESENTATION OF PARTIES For First Tennessee Brokerage, Inc., hereinafter referred to as "Claimant": John J. Heflin, III, Esq. of Bourland, Heflin, Alvarez & Minor, PLC, Memphis, TN. For Debby Emison Earnest, hereinafter referred to as "Respondent": Lela M. Hollabaugh,

ARBITRATION AWARD NASD REGULATION, INC., OFFICE OF DISPUTE RESOLUTION In the Matter of the Arbitration Between Name of Claimants Anthony Finocchio and Wynette Finocchio 97-02411 Name of Respondents Thomas Gucciardo; Nicholas Bosco REPRESENTATION For Claimants: Anthony Finocchio and Wynette Finocchio ("Finocchio"} were represented by Leon Baer Borstein.. Esq, of Borstein & Sheinbaum, located in New York, New York. For Respondents; Thomas

AWARD NASD Regulation, Inc. Office of Dispute Resolution In the Matter of the Arbitration Between Name of Claimant Lagan County Treasurer, acting for the Board of Commissioners of Lhe County of Logan, State of Colorado and 97-02402 Name of Respondent REPRESENTATION OF PARTIES Logan County Treasurer, act.ing for the Board of Commissioners of the County of Logan, State of Colorado ("Claimant") was represented by Michael K. Singer, Esq., Of

AWARD NASD Regulation, Inc. In the Matter of the Arbitration Between Name of Claimants Ronald F. & Betty Hanswirth Ronald F. Hanswirth Pension Plan Arnold J. Ingerman IRA Barbara Ingerman P. Charles Gabriele Dr, P. Charles Gabriele Retirement Trust vs. 97-02393 Name of Respondents Sal Tacher Steven Vornea Adam Levy Marc Luxenberg Evan Lasher REPRESENTATION Claimants Ronald F. and Betty Hanswirth ("Hanswirths"), th

NASD REGULATION, INC. AWARD In the Matter of the Arbitration Between Name of Claimants Edward Davis Gia Davis David Danielli Francis Heymans Steven O'Hara Dave Costello Brian KHng Richard Broglino Leonard Geomelos 97-02388 Name of Respondents Milson Carroll Raver, Jr. M.S. Farrell&Co., Inc. A.G. Edwards & Sons, Inc. REPRESENTATION For Claimants Edward Davis, Gia Davis, David Danielli, Francis Heymans, Steven O