N.A.S.D. STIPULATED ARBITRATION AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Prudential Securities Inc 94-04116 Name of Respondent Kennetii T. Tripoli REPRESENTATION Claimant, Prudential Securities Incorporated ("Prudential"), was represented by Gary M. Miller, Esq. of Stem, Rosenberg & Wmikoff, a Professional Association, Fort Lauderdale, Florida. Respondent, Kennetii T. Tipoli,

NATIONAL ASSOCIATION OF SECURITIES DEALERS AWARD In the Matter or the Arbitration Between Prudential Securities. Inc.. Claimant, V. NASD No. 94- Allan B. Stevenson, Respondents. Rqtreseniation For Claimant: Patricia Fitzpatrick, Esq., of Prudential Securities, Inc., New Yoric, New York For Respondent: James Sullivan, Esq., San Francisco, CaUfomia Case Infmtttatian Statement of Claim filed: October 3, 1994 Claimant's Submission Agreem

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Ronald Demko and Mary Demko (Claimants) v. Davis Financial Group and Robin S. Davis (Respondents) Case Number: 01-04460 Hearing Site: New York, New York Nature of the Dispute: Customers vs. Non-Member and Associated Person. REPRESENTATION OF PARTIES Claimants Ronald Demko ("R. Demko") and Mary Demko ("M. Demko") hereinafter collectively referred to as "Claimants": David Crystal,

N.A.S.D.R. AWARD NATIONAL ASSOCIA'nON OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimants Don and Nancy Richards 94-04112 Name of Respondents A.S. Goldmen & Co., Inc. Joseph W. Donohue Brian M. Dufry Claunants Don and Nancy Richards ("Claimants") were represented by Peter A. Vogt, Esq., Gollatz, Griffin & Ewing, Philadelphia, PA. Respondent Joseph Donohue ("Donohue") was represented by Dan A. Druz, Esq. Sea G

N.A.S.D. AWARD .N..TIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Nafpe nf Claimants John & Carla Arpino 94-04105 Thomas B. Re, Jr. James W. Bullard, Jr.,Inc. CASE SUMMARY In a claim filed with the National Association of Securities Dealers, Inc. on October 5, 1994, Claimants John and Carla Arpino ("Claimants"), who appeared Pro Se, through John Arpino ("J. Arpino"), alleged diat Respondents James W. Bullar

N.A.S.D. AWARD NA'nONAL ASSOCIA'nON OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Marjorie D. Fadler, Trustee, Marjorie D. Fadler, Trust 94-04104 Name of Respondent Charles Schwab & Company, Inc. In a claun filed with the National Association of Securities Dealers, Inc. on October 5,1994, Clainiant, Marjorie D. Fadler, Trustee, Marjorie D. Fadler, Trust, who appeared Pro Se, allied that Respondent, Charles S

N.A.S.D. AWARD NATIONAL ASSOCUTION OF SECURITIES DEALERS In the Matter of the Aibitration Between Name of Claimant William P. Emerson, Jr. 94-04103 Name of Respondents Stratton Oakmont, Inc. David Alibrandi CASE SUMMARY In a claim filed with the National Association of Securities Dealers, Inc. on October 5, 1994, Claimant William P. Emerson, Jr., through his representative, Patricia C. Jenkins, Esq. of Wilmington, NC, alleged that Respon

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Steven A. Fritz 94-04102 Name of Respondent National Discount Brokers CASE SUMMARY ^ In a claim filed with the National Association of Securities Dealen, Inc: on October 5, 1994, Claimant Steven A. Fritz,^who appeared pro se, alleged that Respondent National Discount Brokers did not properly handle a trade for him. Claimant fiirther alleged that on

NATIONAL ASSOCIATION OF SECURITIES DEALERS AWARD In the Matter of the Arbitration Between Mike M. Sarian, Claimant, Cartwright and Walker Securities Inc. and Scoviele Walker Respondents. NASD No. 94-03399 RqtresentatioH For Claimants: Pro Se, Arleta, California For Respondents: Pro Se, Los Angeles, California Case Information Amended Statement of Claim filed: October 31, 1994 Claimants' Submission Agreement signed: June 6, 1994

NASD REGUl^TION, INC. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant State Fund Mutual Insurance Company Names of Resnondents Bear Stearns & Company, Inc. M.G.S.I. Securities M.G.S. I.. Inc. Stephan L. Kaye Stanford E. Golub Steven F. Caldwell Frank J. Marx Deryle Ann Komar James William Ogg 94-03398 Claimant, State Fund Mutual Insurance Company was represented b