N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Sharon Occhiuto 93-03998 Name of Respondents Investacorp, Inc. David Lee REPRESENTATION For Claimant, Sharon Occhiuto ("Occhiuto"): Ralph Occhiuto, Heathrow, Florida. For Respondent, Investacorp ("Investacorp"): Charles D. Miner, Esq., Orlando, Florida. For Respondent, David Lee ("Lee"): See "Other Issues" CASE INFORMAT

NATIONAL ASSOCIATION OF SECURITIES DEALERS AWARD In the matter of the Arbitration Between Carroll C. Rogers Carroll C. Rogers Revocable Trust & IRA Claimant NASD Arbitration No. 93-03997 v. Dean Witter Reynolds, Inc. Ervin Booker Respondents REPRESENTATION For Claimant: Stephen Berger, Esq., Greenbaum & Ferentz, Newport Beach, California For Respondent Dean Witter Reynolds: David P. Restaino, Esq., San Francisco, California Respo

NATIONAL ASSOCIATION OF SECURITIES DEALERS AWARD In the Matter of the Arbitration Between RICHARD ORTALE and STEPHANIE ORTALE, Claimants, v. NASD No. 93-3994 DEAN WITTER REYNOLDS, INC. Respondent Representation For Claimant: Dennis Merenbach, Esq. and J. Leo Federman of Investors Rights Association Santa Barbara, California For Respondent: Timm Verduin, Esq. of Dean Witter Reynolds, Inc., San Francisco, California Case Information

NASD AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. In the Matter of the Arbitration Between Name of Claimant Rick True and 93-03986 Name of Respondent Kober Financial Corp. REPRESENTATION OF PARTIES Rick True ("Claimant") was represented by Michael J. Turner, Esq., Branney, Hillyard and Portman, Denver, Colorado. Kober Financial Corp. ("Respondent") was represented by Peter N. Bowinski, Kober Financial Corp., Englewood, Colorado

11/13/2002 15:38 5614177994 NASD PAGE 02/09 Award NASD in toe jvlader or tne Amtcatjon Between: Names of the Claimants Case Number: 01-02785 Ivette Homsi Maria Alicia Bomsi Caroll Khabbaz Homsi of the Respondents Hearing Site: Boca Raton, Florida Merrill Lynch, Pierce, Pentier & Smith, Inc. Olga Gonzalez-Brimsoe REPRESENTATION OF PARTIES For Ivcttc Homsi ("Ivette 1 '), Maria Alicia Homsi ("Maria Alicia") and CaroU Khabbaz Homsi

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimants Lloyd H. & Penelope J. Emery 93-03979 Name of Respondents Gruntal & Co., Inc. Dennis Bodenstein REPRESENTATION Claimants Lloyd H. & Penelope J. Emery ("Claimants") were represented by Lloyd H. Emery Respondents Gruntal & Co., Inc. ("Gruntal") and Dennis Bodenstein ("Bodenstein") were represented by Donald N. Cohen, Ass

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimants Edith Margolies 93-03975 Name of Respondent Merrill Lynch, Pierce, Fenner & Smith, Inc. CASE SUMMARY In a claim filed with the National Association of Securities Dealers, Inc. on September 30 5 1993 Claimant Edith Margolies ("Claimant"), through her representative, Jill Levi, Esq., of Feltman, Karesh, Major & Farbman,

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between PaineWebber Incorporated 93-03973 Name of Respondent John D. Gray REPRESENTATION For Claimant: PaineWebber Incorporated ("PaineWebber") was represented by Nicholas P. Kapur, Esq. and Joseph Generelii, Esq. of PaineWebber Incorporated, Weehawken, New Jersey. For Respondent: John D. Grey ("Grey") was represented by Lawrence R. Goldberg, Esq., loc

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS. INC. In the matter of the Arbitration Between Name Carolyn D. Seger NASD Arbitration No.93-03967 Mama 0. f KC5IK?ntllrPt Financial Network Investment Corp. Zuk & Associates, Inc. Oscar Sasson REPRESENTATION For Claimant: M. Van Smith, Esq., Palo Alto, California For Respondents: David S. Markun, Esq., and Robert L. Gonser, Esq., Zellc & Larson, San Francisco, California

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimants Lawrence F. and Frances A. Leonard 93-03965 Name of Respondent Merrill Lynch, Pierce, Fenner & Smith, Inc. CASE SUMMARY In a claim filed with the National Association of Securities Dealers, Inc. on September 27, 1993, Claimants Lawrence F. and Frances A. Leonard ("Claimants"), through their representative, Jill Levi, Esq., of