NASD REGULATION, INC. AWARD In the Matter of the Arbitration Between Name of Claimant First Albany Corporation Case No. vs. 97-00700 Name of Respondent Franklin Grey REPRESENTATION For Claimant First Albany Corporation ("Claimant") appeared David M. Cherubin, Esq. of the firm Crane, Kelley, Greene & Parente located in Albany, New York. Respondent Franklin Grey ("Respondent") was not represented by counsel. CASE INFORMATION Claimant's

NASD REGULATION AWARD In the Matter of the Arbitration Between Name of Claimant Gordon Dale Baker 97-00699 Name of Respondents Capital Analysts Inc. Robert Cogan REPRESENTATION For Claimant Gordon Dale Baker ("Claimant") appeared Leon Jones, Esq., of the law firm Lawson, Davis & Pickren, located in Atlanta, Georgia. For Respondents Capital Analysts, Inc. ("Capital") and Robert Cogan ("Cogan") (collectively referred to as "Respondents"),

N.A.S.D. REGULATION AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS REGULATION. INC. CASE: 97-00692 Offerman & Company, Incorporated, claimant vs. John M. Hargarten, respondent. ATTORNEYS: For Claimant appeared in-house counsel, Patricia S. Bartholomew, Esq., St. Paul, MN. Respondent appeared Pro Se, Plymouth, MN. DATE FILED: February 10, 1997. CASE SUMMARY: Claimant alleged that respondent diverted its share of insurance commission overrides.

N.A.S.D. REGULATION AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS REGULATION. INC. CASE: 97-00691 Louie and Julianna Csonaki, claimants v. S,D Cohn & Co Inc., respondent. ATTORNEYS: For Claimants Claimants appeared pro se - Vancouver, WA. For respondent appeared Charles M. O'Rourke, Esq. - Garden City, NY. DATE FILED: February 10, 1997. 'CASE SUMMARY:' Clainfant alleged misrepreSentation/failure to execute and a"n overcharge of commission in

NASD Regulation, Inc., Award In the Matter of Arbitration Between Rodney P. Saunders, Sr. Claimant, and No. 97-00686 Brokers Investment Corporation, Respondent. Claimant, Rodney P. Saunders, Sr. ("Saunders") was represented pro se during these proceedings. Respondent Brokers Investment Corporation ("BIC") was represented by Norman Shubert of Brokers, but failed to Answer the Statement of Claim and did not appear at the hearing. CASE INFO

N.A.S.D. REGULATION AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS REGULATION, INC. CASE: 97-00683 Adam David Rubinstein, claimant vs. Charles Schwab & Co. Inc., respondent. ATTORNEYS: Claimant appeared Pro Se - Roslyn, NY. For Respondent appeared in-house counsel, Rhonda Y. Jones, Esq., San Francisco, CA. DATE FILED: February 10, 1997. CASE SUMMARY: Claimant alleged that due to computer error he was unable to sell his Trans World Airlines stock,

AWARD NASD REGULATION. INC., OFFICE OF DISPUTE RESOLUTION In the matter of the Arbitration Between Name of Claimants Arpita Moni Guha, Lakshmi Guha, & Ajoy Kumar Guha v. - Arbitration No. 97-00671 Name of Respondents Paul Syracuse, Churchill Securities, Inc., Gerald Hirsch, and Briarwood Investment Counsel REPRESENTATION For Claimants: Paul W. Thomas, Esq. Paul W. Thomas & Associates Carlsbad, California 92008 For Respondent Paul Syr

Award NASD Dispute Resolution, Inc. In the Matter of the Arbitration Between: Harish Chatlani, Claimant v. TD Waterhouse Investor Services, Inc., Respondent Case Number: 00-01780 Hearing Site: Los Angeles, California REPRESENTATION OF PARTIES For Claimant: Mitchell J. Albert, Esq. Albert & Will, LLP Torrance, California For Respondent: John L. Erikson, Esq. Jones, Bell, Abbott, Fleming & Fitzgerald LLP Los Angeles, California CASE IN

NASD REGULATION, INC. AWARD In the Matter of the Arbitration Between Name of Claimant The Estate of Stanley Butwin 97-00667 Name of Respondents Meredith, Martin and Kaye Incorporated Robert R. Meredith & Co., Inc. Robert R. Meredith Jean M. Meredith Joan B. Kaye REPRESENTATION For Claimant the Estate of Stanley Butwin ("Claimant") appeared Herbert M. Deutsch, Esq., of the law office Deutsch & Lipner located in Garden City, New Yo

N.A.S.D. AWARD NASD Regulation, Inc. Office of Dispute Resolution In the Manor of the Arbitration Between Name of Claimants Vladimir and Alena Holik 97-00662 Name of Respondent Navillus Securities. Inc. REPRESENTATION Claimants Vladimir and Alena Holik ("Claimants") were represented by Robert Long, F.sq.. Buss, Long & Lahr, Whitehall. PA. Respondent Navillus Securities, Inc. ("Respondent") was represented by Kevin J. Sommar, Esq., Sornma