Award NASD Dispute Resolution In the Consolidated Matter of the Arbitration Between: Joseph R. Biondo vs. Citigroup, Inc. and Citigroup Global Markets, Inc. f/k/a Salomon Smith Barney, Inc. Case Number: 04-08255 Hearing Site: Philadelphia, PA and Smith Barney, a Division of Citigroup Global Markets, Inc. vs. Joseph R. Biondo, Biondo Asset Management, L.L.C., Gregory Lutfy and Eugenia Pavek. Case Number: 04-08747 Nature of the Dispute: Associated

Stipulated Award NASD Dispute Resolution In the Matter of the Arbitration Between: Charles Kenneth Cosentino, an Individual and Panther Technologies, Inc., Claimants vs. Merrill Lynch, Pierce, Fenner & Smith Incorporated and Daniel J. White, Jr., Respondents Case Number: 04-00773 Hearing Site: San Francisco, California Nature of the Dispute: Customers vs. Member and Associated Person REPRESENTATION OF PARTIES For Claimants: For Respondents:

Stipulated Award NASD Dispute Resolution In the Matter of the Arbitration Between: Nesreen N. AI-Anbar & Sultana Sultan vs. Sands Brothers & Co., Ltd., Robert V. Grille, Christopher J. Lee, Martin S. Sands, Steven B. Sands, Richard F. Sands, Christopher M. Silver, Daniel T. O'Connor and William A. lommi, Sr. Case Number 03-00531 Hearing Site: Philadelphia, PA Nature of the Dispute: Customers v. Member and Associated Persons. RFPRFSFMTATIOM OF PARTIFS

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Mildred R. Hood (Claimant) vs. Williams Capital Management, Inc. and Waterhouse Securities n/k/a TD Waterhouse Investor Services, Inc. (Respondents) Case Number: 05-02180 Hearing Site: Newark, New Jersey Nature of the Dispute: Customer vs. Non-Member and Member REPRESENTATION OF PARTIES Claimant Mildred R. Hood hereinafter referred to as "Claimant": Patrick D. Tobia, Esq., Cleme

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Name of the Claimant Case Number: 06-03069 The Variable Annuity Life Insurance Company Names of the Respondents Hearing Site: Atlanta, Georgia William Robert Joiner Kimberly Storch Joiner Nature of the Dispute: Non-Member vs. Associated Person, REPRESENTATION OF PARTIES For The Variable Annuity Life Insurance Company ("VALIC"), hereinafter referred to as "Claimant": Larr

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Webster Family Trust dtd 12/29/92, Darrell L. Webster and Barbara P. Webster, Claimants v. McDonald Investments, Inc., Respondent Case Number: 06-00352 Hearing Site: Salt Lake City, Utah Nature of the Dispute: Customers v. Member REPRESENTATION OF PARTIES For Claimants: Randall R. Heiner, Esq. Heiner Law Offices Salt Lake City, Utah For Respondent: Steven R. Maylnn, Esq.

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Andrew S. Zucker SEP/IRA and Harriet R. Zucker SEP/IRA, Claimants v. Grattan Financial Securities, Inc., Warner Pacific Financial, Inc., Pamela H. Wilson, and Raymond L. Kotrozo, Respondents Case Number: 04-06212 Hearing Site: Los Angeles, California Nature of the Dispute: Customers v. Member, Non-Members, and Associated Person REPRESENTATION OF PARTIES For Claimants Andrew

Stipulated Award NASD Dispute Resolution In the Matter of the Arbitration Between: Josephthal & Co., Inc. (Claimant) v. Edward B. Haggerty (Respondent) Case Number: 03-01879 Hearing Site: New York, New York Nature of the Dispute: Member vs. Associated Person REPRESENTATION OF PARTIES Claimant Josephthal & Co., Inc. k/n/a Fahnestock & Co., Inc. hereinafter referred to as "Claimant": Noah Sorkin, Esq., Office of The General Counsel, Oppenheimer& Co.,

NASD DISPUTE RESOLUTION AWARD NASD DISPUTE RESOLUTION CASE: 06-00382 Chad Alexander Lipovich, (Claimant) vs. Ameriprise Financial Services, (Respondent) ATTORNEYS: Claimant appeared pro se, Battle Ground, WA. For Respondent appeared Jeffrey H. Butwinick, Esq., Law Offices of Edgerton, Weaver & Irwin, L.L.C., Minneapolis, MN. NATURE OF DISPUTE: Associated Person vs. Member DATE FILED: January 20, 2006 CASE SUMMARY: Claimant alleged that Responden

AWARD NASD Dispute Resolution, Inc. In the Matter of the Arbitration Between Name of Claimant William D. Connor and 01-02319 Denver, Colorado Name of Respondent First Union Securities, Inc. REPRESENTATION OF PARTIES William D. Connor ("Claimant") was represented by Jeffrey J. Scott, Esq., Head & Associates, P.C., Denver, Colorado. First Union Securities, Inc. ("Respondent") was represented by William D. Nelson, Esq., Rothgerber Johns