STIPULATED AWARD NASD Dispute Resolution, Inc. In the Matter of the Arbitration Between Names of Claimants Leatrice Dreiling, Judy Lease and Sara Moriber, as Trustees of The Albert Dreiling Marital Trust Names of Respondents D.H. Blair & Co, Inc. D H Blair Investment Banking Corp. Jeffrey Triana J. Morton Davis Kenton E. Wood Vito Capotorto Case No. 00-01014 Hearing Site: Boca Raton, Florida REPRESENTATION OF PARTIES

NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between John Francisco, Jr. and Sanford M. Cohn Claimant(s) vs. 89-00409 Merrill Lynch, Pierce, Fenner & Smith, Inc. Respondent(s) NOTICE OF ARBITRATION AWARD CASE SUMMARY Claimant John Francisco, Jr. and Sanford M. Cohn alleged that Respondent Merrill Lynch, Fierce, Fenner & Smith, Inc. has not credited the Claimants' account the proper proceeds from

NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Thomas and May Gin Claimant(s) vs. Merrill Lynch, Pierce, Fenner & Smith, Inc. Respondent(s) NOTICE OF ARBITRATION AWARD 89-00407 CASE SUMMARY Claimants Thomas and May Gin alleged that Respondent Merrill Lynch, Pierce, Fenner & Smith, Inc. failed to execute. Respondent maintain that Mr. Steven Richards, the Claimants investment advisor, was re

NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Frank B. Palazzolo Claimant(s) vs. 89-00406 Shearson Lehman Brothers and Joann Linderman Respondent(B) NOTICE OF ARBITRATION AWARD CASE SUMMARY Claimant(s) Frank B. Palazzolo alleged that Respondent(s) Shearson Lehman Brothers and Joann Linderman mishandled his account. Respondent(a) maintain that they acted in a proper, prudent and profession

NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Frank B. Palazzolo, Jr. and Arlene F. Palazzolo Claimant(s) vs. 89-00404 Shearson Lehman Brothers, Inc. and Joann Linderman Respondent(s) NOTICE OF ARBITRATION AWARD CASE SUMMARY Claimant Frank B. Palazzolo, Jr. and Arlene F. Palazzolo alleged that Respondents Shearson Lehman Brothers, Inc. and Joann Linderman executed transactions in Claimant

5TIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Claire Saltzman Claimant(s) vs. Robert Ritson Respondent(s) NOTICE OF ARBITRATION AWARD 89-00403 CASE SUMMARY Claimant(8) Claire Saltzman alleged that Respondent(s) Robert Ritson made misrepresentations and withheld information. Respondent (s) maintain that the Claimant was aware of the risks involved in investing in developing companies and that h

NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Louis Perez Claimant(s) vs. New England Discount Brokerage Respondent(s) NOTICE OF ARBITRATION AWARD 89-00402 CASE SUMMARY Claimant (s) Louis Perez alleged that Respondents) New England Discount Brokerage has not transmitted to Claimant stock certificate. Respondent(s) denies Claimant's allegations. RELIEF REQUESTED Claimant(s) Louis Perez

NATIONAL ASSOCIATION OP SECURITIES DEALERS In the Matter of the Arbitration Between Thomas D. and Paula B. Martin Claimant(s) vs. 89-00401 Texas Securities, Inc. and Sam J. Switzer Respondent(s) NOTICE OF ARBITRATION AWARD CASE SUMMARY Claimant(s) Thomas O. and Paula B. Martin alleged that Respondent(s) Texas Securities, Inc. and Sam J. Switzer made misrepresentations. Respondents) maintain that the outcome of the stock could

NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Gerard and Nancy Daly Claimant(s) vs. 89-00400 Graystone Nash, Inc. Respondent(s) NOTICE OF ARBITRATION AWARD CASE SUMMARY Claimant(s) Gerard and Nancy Daly alleged that Respondent(s) Graystone Nash, Inc. failed to follow Claimants' instructions with respect to certain transactions. Respondent(s) maintain that Claimant is merely a disgruntled

N.A.S.D. AHHBD NW1CNRL ASSOdfiTICN OF SFPRmES In the Matter of the Arlaitxatian Between nf Janes L. Busby 89-00399 Smith Barney Harris Upham & Co., Inc. Dumas Busby Claimant Janes L. Busby alleged that Respondents Smith Barney, Cpham and Co., Inc. and donas Busby admitted acts of fraud, breached fiduciary duties, acmnitted acts of negligence, and improperly supervised their agents. Claimant Janes Busby further aijcgpri that Respondents m