N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Seymour Link, Trustee of the Anna Link Revocable Trust DTD 94-01717 Name of Respondents Dean Witter Reynolds, Inc. William T. Torppey CASE SUMMARY In a claim filed with the National Association of Securities Dealers, Inc. on May 10, 1994, Claimant Seymour Link, Trustee of the Anna Link Revocable Trust DTD ("Claimant"),

NASD Arbitration No. 94-01715 N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS. INC. In the matter of the Arbitration Between Name of Claimant(s) Alex. Brown & Sons Incorporated Name of Respondent(s) Cantor Fitzgerald Partners REPRESENTATION For Claimant: Nancy Palmer, Esq., Alex. Brown & Sons Incorporated, Baltimore, Maryland For Respondent: Edward J. Boyle, Esq., Wilson, Elser, Moskowitz, Edelman & Dicker, New York, New Yo

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Jason L. Brenden 94-01710 Name of Respondents Smith Barney Shearson, Inc. and R. Thomas Vosburgh Representation of Parties Claimant Jason L. Brenden was represented at the hearing by Philip H. Hart, Esq. of UAW- Chrysler Legal Services Plan, Belvidere, Illinois. Respondents, Smith Barney Shearson, Inc. and R. Thomas Vosburg

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of Arbitration Between Name of Claimant Ran Liang v. Case # 94-1707 Name of Respondents Nick Hua, Investors Associates, Inc., Prudential Securities, Inc., Growth Capital Management, Inc. For Claimant Ran Liang; JBoris J. Lewyckyj, Esq., New York, NY For Respondent Nick Hua: Gerald E. Marcus, Esq., Hamden CT For Respondent Investors Associates, Inc: Lawrence R. Ge

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Richard F. Schwartz Case No. vs. 94-01705 Name of Respondent Oppenheimer & Co., Inc. Randy Driver REPRESENTATION For Claimant, Richard Schwartz ("Schwartz 1 *), appeared Thomas P. Marotta, Esq., of Hermann Cahn & Schneider located in Cleveland, Ohio. For Respondent, Oppenheimer & Co., Inc., ("Oppenheimer") and Randy

NASD AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. In the Matter of the Arbitration Between Lee Cazort. Jr. and Case No . 94-0 1 703 NAP Financial Corporation n/Va Aragon Financial Services. Inc. and Marc J, Herman RJfiPRESENTA'flQN OF PARTIES Claimant, Lee Cazort, Jr.,was represented by Mark W. Nichols, Esq. of Nichols, Wolff & Lfidbetter, Little Rock, Arkansas Respondents, NAP Financial Corporation n/k/a Aragon Financial Services,

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS Name of Claimant David A. Sipp Case No: 94-01700 1^ ame of Respondent Prudential Securities Incorporated REPRESENTATION For Claimant: David A. Sipp ("Sipp") was represented by Timothy M. McDaniel, Esq. of McDaniel & Associates, located in Houston, Texas. For Respondent: Prudential Securities Incorporated ("Prudential") was represented by David Sterling, Esq. of Baker & Botts, located

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Stephen A. Rogers, (Claimant) vs. Gruntal & Co., L.L.C. and Albert Pagan, (Respondents) Case Number: 01-03039 Hearing Site: Boston, Massachusetts REPRESENTATION OF PARTIES Claimant, Stephen A. Rogers, hereinafter referred to as "Claimant", appeared pro se. Respondents, Gruntal & Co., L.L.C. ("Gruntal") and Albert Pagan ("Pagan"), hereinafter collectively referred to as "Respondents"

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALFR.S. INC. In the matter of the Arbitration Between Name of Claimant (s) Roger M. Young Name of Respondents Kenneth B. Sacks Andrew E. Mercer Calvin Freedman John Peters Dan Libby NASD Arbitration No. 94-01698 REPRESENTATION For Claimants: InProSe For Respondents: In Pro Se CASE INFORMATION Statement of Claim filed: May 9,1994 Claimant's Submission Agreemen

N.A.S.D. STIPULATED AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS Name of Claimant Oppeneimer & Co., Inc. 94-01697 Name of Respondent Alan S. Haenel REPRESENTATION For Claimant Oppenheimer & Co., Inc. ("Claimant") appeared Lloyd S. Clareman, Esq., a sole practicioner located in New York, New York. For Respondent Alan S. Haenel ("Respondent") appeared John E. Law lor, Esq., a sole practicioner located in New York, New York. CASE INFORM