N.A.S.D. REGULATION AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS REGULATION T INC CASE: 97-01772 William Paul Erhard, claimant vs. Hillcrest Financial Corp. and Boris Rentzer, respondents. ATTORNEYS: Claimant appeared Pro Se - San Diego, CA, For Respondent Hillcrest Financial Corp. appeared Michaael Present, Esq., of the law firm Sexter & Warmflasfa, P.C., New York, NY. Respondent Boris Rentzer did not respond to the Statement of Claim.

NASD REGULATION, INC. AWARD In the Matter of the Arbitration Between Name of Claimant Rose S, Berlin 97-01768 Name _o_f Res pondents Christopher L. Marcanello Pittsburgh Investment Brokers, Inc. REPRESENTATION Claimant Rose S. Berlin ("Claimant") appeared pro se. For Respondents Christopher L. Marcanello ("Marcanello") and Pittsburgh Investment Brokers, Inc. ("PIB") (collectively referred to as "Respondents") appeared Roberta R. Wilson, Esq.

AWARD NASD Regulation. Inc. In the Matter of the Arbitration Between Name qf Claimant Anthony DeMarco, Custodian and Name of Respondent Rajoo Shwma 97-1166 Anthony DeMarco. Custodian ("Claunanl 1 ') was represented by Pro » Rajoo Sharma ("Rwpondent") was represented by (Catherine Nathan TASK Claimant Tiled the Statement of Claim on or about April 7. 1997. Claimam signed the Uniform Submission. Agreement on April 30, 1997.

NASD REGULATION, INC. AWARD In the Matter of the Arbitration Between Name of Claimants Lonnie Lehrer 97-01764 Name of Respondents Michael F. Frey Scott Cruder AJ. Michaels & Co. Ltd. REPRESENTATION For Claimant Lonnie Lehrer ("Claimant") appeared Jerome Olitt of Arbitration and Mediation Specialists, Inc. with offices located in Stamford, Connecticut. For Respondents Michael F. Frey ("Frey"), Scott Cruder ("Cruder") and AJ. Michaels

NASD REGULATION, INC. AWARD In the Matter of the Arbitration Between Name of Claimant George W. Benedict 97-01760 Name of Respondents Gerald Sharpe J. W. Barclay & Co., Inc. REPRESENTATION For Claimant George W. Benedict ("Claimant") appeared James Dolan, Esq., a sole practitioner with offices located in Garden City, New York. For Respondents Gerald Sharpe ("Sharpe") and J.W.Barclay & Co., Inc. ("Barclay") (collectively referred to as "R

Stipulated Award NASD Dispute Resolution, Inc. In the Matter of the Arbitration Between: John P, Burns and Selby F. Burris, Trustees FBO the John P. Bums Co. Defined Benefit Pension Plan, Claimants vs. M.L. Stern & Co., LLC and Larry A. Brooks, Respondents. Case Number: 00-01923 Hearing Site: San Francisco, CA REPRESENTATION OF PARTIES Claimants, John P. Burris and Selby F. Burris, Trustees FBO the John P. Burris Co. Defined Benefit Pension Plan, (herei

NASD REGULATION, INC. AWARD In the Matter of the Arbitration Between Name of Claimants Alex Ehrlich Marilyn Ehrlich DB&G Investment Corp. 97-01759 Name of Respondent Joel Ehrlich Robert Kessler Kessler & Company REPRESENTATION For Alex Ehrlich ("A. Ehrlich"), Marilyn Ehrlich ("M. Ehrlich") (collectively,"Claimants") and DB&G Investment Corp, ("DB&G") appeared Richard D. Weinberg, Esq., from the law office of Morvillo, Abramow

N.A.S.D, REGULATION AWARD NASD Regulation, Inc. Office of Dispute Resolution In the Matter of the Arbitration Between Name of Claimant / Counter-respondent Wedbush Morgan Securities Inc. 97-01758 ffame of Respondent / Counter-claimant John A. Hanley, Jr. REPRESENTATION OF PARTIES For Claimant/Counter-respondent: Lisa A. Bertain, Esq., Keesal, Young & Logan, San Francisco, California For Respondent/Counter-claimant: William N. Hebert, Esq., A

N.A.S.D. REGULATION AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS REGULATION. INC. CASE: 97-01757 Evelyn I. Challis, claimant vs. Merrill Lynch, Pierce, Fenner & Smith, Inc. and Jeff Lavner, respondents. ATTORNEYS: Claimant appeared Pro Se, Santa Monica, CA. For Respondents appeared in-house counsel, Kevin P. Kane, Esq., New York, NY. DATE FILED: April 7, 1997. CASE SUMMARY: Claimant alleged that she had been neglected as a small investor and tha

r:,- ' N.A.S.D. REGULATION AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS REGULATION. INC. CASE: 97-01756 Alan Gramaglia, claimant v. Smith Barney Inc., respondent. ATTORNEYS: For claimant appeared Joel M. Leifer, Esq. - New York, New York. For respondent appeared Fern Strauss - New York, New York. DATE FILED: 4/7/97 CASE SUMMARY: Claimant alleged attorney's fees due from separate action. Claim Data Award Data Claim: $10,000.00 Award