NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Clay E. Thompson, Jr. Clairaant(s) vs. 90-00413 Merrill Lynch, Pierce, Fenner & Smith, Inc. Respondent(s) NOTICE OF ARBITRATION AWARD CASE SUMMARY Claimant(s) Clay E. Thompson, Jr. alleged that Respondent(a) Merrill Lynch, Pierce, Fenner & Smith, Inc. redeemed his bond without notifying him of the conversion option. Respondent(s) maintain

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between ) ) Name of Frances E. Lochner ) ) ) Case No. 90-00412 ) Name Q Robert William Stroup ) Frank Samuelsohn ) Heard before the matters of the Arbitration Panel: Arthur J. Leibell, Esq. Public Sterling F. Tremayne Public Jack C. Aycock Industry Claimant, Frances E. Lochner ("Lochner"), was represented by Thomas R. Grady, Esq

NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. Herbert and Ruth Levitt Claimant v. AWARD #90-00408 Shearson Lehman Hutton, Inc. And Sheldon J. wilshinsky Respondents CASE SUMMARY The Statement of Claim in this matter was filed with the N.A.S.D., Inc. on February 8, 1990. Claimants, Herbert & Ruth Levitt alleged that Respondents,- Shearson Lehman Hutton, Inc. and Sheldon J. Wilshinsky breached their fiduciary duty toward Claimants b

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between JEAN SOTO, BETTY PONDER, et al Claimants and MERRILL LYNCH, PIERCE, FENNER & SMITH, INC. Respondent REPRESENTATIQN OF PARTIES Claimants were represented by Leigh Lasky, Esq. -of, Biegel and Sandier, Ltd., Chicago, Illinois. Respondent was represented by Donald Littlefield, Esq. of Geary, Stahl & Spencer, Dallas, Texas. CASE SUMMARY

Arbitration g, N.A.o.U. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Ls1 National Association of Securities Dealers, Inc. One East Broward Boulevard Suite 1000 Ft. Lauderdale. Florida 33301 (305) 522-7391 Jules Hochman, Individually and as Trustee of the Jules Hochman Revocable Trust Name of Stuart James Company, Inc. Herbert Robinson ) Case No. 90-00406

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between of Serena Ashley 90-00405 Name of Rt-jS Prudential-Bache Securities Inc. Thomson KbKinnon Securities, Inc. C. Collier Joseph Palmar Michael Turner Serena Ashley was represented by William J. Freidl, Esq., Robert J. Novak, Esq. and Mark Sippel, Esq. of Phoenix, Arizona. Carroll Collier was represented by Guy M. Buckley, Esq. of Mesa,

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Donald & Donna Montgomery et al. 90-00403 Kidder, Peabody & Co., Incorporated Ti T i i Claimants Donald E. and Donna L. Montgomery, Timothy J. Mqntgonary, Katie Montgomery, Anthony Montgomery, Molly Montgomery, St. John's Publishing, Inc. and Donald E. Montgomery & Associates were represented by Donald E. Montgomery and Donna L.

Stipulated Award NASD Dispute Resolution In the Matter of the Arbitration Between: Roderic C. Ward and Elizabeth Jean Ward, individually and as Trustees of The Roderic C. Ward " and Elizabeth Jean Ward Revocable Trust, Claimants v. Investment Architects, Inc., Glen David Haddock, Anthony J. Duckworth, and Jack W. fiverett, Respondents Case Number: 01-03268 > Hearing Site: San Francisco, California Nature of the Dispute: Customers v. Member and Associated Pe

N.A.S.D. ASAHD NKPICNftL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Carl B. Allen 90-00402 Edward D. Jones & Go. Cort L. Cheney For Claiaant(e)J Carl B. Allen appeared pro so For Respondents) < EdwatU D. Jonfw & Cu. and CUrt Disney wwcw repciawntMd Ly Cynthia A. Doria, Esq. of Edward D. Jones & Co., ttozyland Hei^xts f 1C. Statsnetxt of Claim filed on or about Fsbcuary 5, 1990. Claimant's Submission Ag

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant R and B Enterprises . . 90-00400 Prudential-Bache Securities Inc. and Prudential-Bache Agriculture Inc. In a claim filed with the National Association of Securities Dealers, Inc. ("NASD") on or about February 28, 1990, R & B Enterprises ("Claimant") alleged that Prudential-Bache Securities Inc. and Prudential-Bache Agricult