N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimants Kenneth R. and Sydney L. Langosch NASD Case No. 93-05118 Name of Respondents Smith Barney Shearson, Inc. David Allen Buid Timothy Earl Griffith Alexander £. Karkenny Carleen Gelli REPRESENTATION Claimants, Kenneth R. and Sydney L. Langosch ("Claimants"), appeared pro se. For Respondents, Smith Barney Shearson,

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant^) Michael T. DeBusscheree 93-05117 Name of Respondents') Dean Witter Reynolds Inc. CASE SUMMARY In a claim filed with the National Association of Securities Dealers, Inc. on December 9, 1993 Claimant Michael T. DeBusscheree, who appeared Pro Sse, alleged that Respondent Dean Witter Reynolds, Inc. failed to sell 500 shares of

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS. INC. In the matter of the Arbitration Between Name of Claimant Robert M. Roney NASD Arbitration No. 93-05110 Name A. G. Edwards & Sons, Inc. For Claimant: In Pro Se For Respondent: William S. Port, Esq. - A. G. Edwards & Sons, Inc. - St. Louis Missouri CASE INFORMATION Statement of Claim filed: December 10, 1993 Claimants' Submission Agreement signed: December 3, 1993

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of Arbitration Between Name of Claimant Pauline E. Spitz-Herbach 93-05108 Name of Resoonden^ Corporate Securities Group, Inc. Claimant Pauline E. Spitz-Herbach ("Claimant") appeared pro se. For Respondent Corporate Securities Group, Inc. ("Respondent") appeared Steven Jaloza, the Office Manager of Corporate Securities Group, Inc.'s branch office located in Great Neck, Ne

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Janney Montgomery Scott Inc. Case No. 93-05107 Name of Respondent Joseph Coleman REPRESENTATION For Claimant, Janney Montgomery Scott Inc. ("Claimant"), appeared Ashton G. Eldredge, Jr. In-house Consel located in Philadelphia, Pennsylvania. Joseph Coleman ("Respondent"), appeared Pro Se. CASE INFORMATION Statement of Cl

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimants Joseph J. Rodich, Sr. & Beulah F. Rodicb 93-05106 Name of Respondents Robert Edwin Henning Michael J. Mitchell CASE SUMMARY In a claim filed with the National Association of Securities Dealers, Inc. on December 10,1993, Claimants Joseph J. Rodich, Sr. and Beulah F. Rodich, who appeared Pro Se, alleged that Respondents Robe

N.A.S.D. AWARD -3 NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Muhua Yu Case# vs. 93-05105 Name of Respondents Investors Associates, Inc. Nick Hua REPRESENTATION Claimant, Muhua Yu, represented herself at the hearing. For Respondents, Investor's Associates, Inc., Lawrence R. Gelber, Esq. from the law firm of Beigel Schy Lasky Cohen Rifkind et al. located in New York, New

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimants) Investment Management & Research, Inc. 93-05104 Name of Respondentfs) Peter C. Bucchieri REPRESENTATION For Claimant: John N. Critchlow, Esq. For Respondent: Grover S. Parnell, Esq. of the law firm of Davis Malm & D'Agostino. CASE INFORMATION Statement of Claim filed December 10, 1993. Claimant's Submission Agreement

AWARD NASD Dispute Resolution, Inc. In the Matter of the Arbitration Between Name of Claimant Ted Phipps and 01-02861 Phoenix, Arizona Name of Respondents Heritage West Securities, Inc. Stewart L. Michaels REPRESENTATION OF PARTIES Ted Phipps ("Claimant") was represented by Michael Salcido, Esq., Gust Rosenfeld PLC, Phoenix, Arizona. Heritage West Securities, Inc. ("Respondent Heritage West") was represented by Robert D. Mitchell

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Raymond J. Raia 93-05103 Name of Respondents Tamaron Investments, Inc. Anthony Imbo Joan Demarco REPRESENTATION For Claimant Raymond J. Raia ("Claimant") appeared E. Michael Rosenstock, Esq. located in Rockville Center, New York. For Respondent Tamaron Investments, Inc. ("Tamaron") appeared David Zisser, Esq. with t