N.A.S.D. AWARD NKEICMMi ASSOCXATICN OF SECURITIES OEAIERS In the Matter of the Arbitration Between NanoeofCladjiBnts Robert J. Rowley, President of Robert J. Rowley & Go. , Inc. , and Trustee for the Robert J. Rowley & Co. Defined Benefit Retirement Trust 91*01365 FaineMebber, Inc. Timothy O. p. Nicholson For Claimants: Mark E. Maddzx, Esq. of Oyyg & Saint, fr For Respoodents: Patrick J. Howley, Esq. of PaineMetber, IDC. Weebawfcen,

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Mildred Sayer, Ann Kumstat Executrix 91-01361 Name of Respondents Monmouth Investments Inc. Ron Sarno REPRESENTATION For Claimant: Casper P. Boehm, Jr., Esq. a sole practitioner. For Respondent, Ron Sarno: Jerry Selvers Esq. of Sonnenblick, Parker & Selvers. For Respondent, Monmouth Investments, Inc.: Sena Hussain. CASE

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Fabio Pasquesi and Christopher Knutson, (Claimants) vs. Burlington Capital Markets, Inc., (Respondent) Case Number: 01-01831 Hearing Site: New York, New York REPRESENTATION OF PARTIES Claimants, Fabio Pasquesi ("Pasquesi") and Christopher Knutson ("Knutson"), hereinafter collectively referred to as "Claimants": Neal Brickman, Esq., The Law Offices of Neal Brickman, New York, NY.

N.A.S.D. AWARD >i NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between \ \ \ Name of Claimants " . - Margit R. Krauel and William R. Krauel 91-01353 Name of Respondents First Investors Corporation Raphael J. Schnelly *" *"" REPRESENTATION OF PARTIES For Claimants Margit Krauel and William Krauel: Mark J. Briol, Esq. of Briol and Wilmes, Minneapolis, Minnesota. For Respondents First Investors Corpora

NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. In the Matter of the Arbitration Between PaineWebber, Inc. Claimant CASE #91-01352 vs ' : AWARD • • Brad Ferlane Respondent ,• / CASE SUMMARY In a claim filed with the National Association of Securities Dealers, Inc. on April 30, 1991, Claimant PaineWebber, Inc. through its in-house counsel Garry J. Stegeland, Esq., alleged that Respondent Brad Ferlane failed to satisfy margin

NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. In the Matter of the Arbitration Between Edward DiNardo Claimant vs. AWARD Paragon Capital Corporation Tony Pinsonault Respondents CASE f91-01351 CASE SUMMARY Edward DiNardo by his attorney George F. Surgent, Mahwah, NJ, in a claim filed with the National Association of Securities Dealers, Inc. on April 30, 1991, alleged that Respondent Tony Pinsonault, his account representative a

N.A.S.D. AWARD NKTICNAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between. Of Stacy A. Scbnitz vs. 91-01349 Name of Raspgnrlpnt(s) "^^^^^ For Claimant; Steven P. Scbmitz, 2631 Nbrite Place. Qxnard, CA 93030 For Respondent: N6 appearance Statement of nalTn filed: April 30, 1391 Claimant's Sufcnisslcn Agreement signer! on: April 23, 1391 Respondent did act file an answer. Respondent did not file a submission ag

N.A.S.D. AWARD In the Matter of the Arbitration Between Name of Claimants) Edward De Groff & Elizabeth M. De Groff Case No. 91-01346 Name of Respondent(s) Dean Witter Reynolds, Inc. Doug Campbell Elton Stevens (Dismissed-removed) REPRESENTATION For Claimants, Edward De Groff and Elizabeth M. De Groff ("De Groffs"): William Doyle, Esq. of Fort Lauderdale, Florida. For Respondent, Dean Witter Reynolds ("DWR"): and Douglas Campbell ("Ca

Arbitration National Association of N.A.S.D. AWARD Securities Dealers, Inc. NASD Financial Center NATIONAL ASSOCIATION OF SECURITIES DEALERS 33 Whitehall Street New York, N.Y. 10004 FAX (212) 858-4389 In the Matter of the Arbitration Between Name of Claimant Daniel Thelen 91-01343 Name of Respondent David Alexa For Claimant David Alexa ("Claimant"): Thomas M. Hitch, of MCGinty, Brown et al. For Respondent Daniel Tnelen ("Resp

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Stanley Peskin, Beth Peskin, Alan Schultz, Edith Schultz, and the Milton Schultz Trust, (Claimants) vs. Marc A. Cantelmo and J. Donald Kinsella, (Respondents) Case Number: 01-01830 Hearing Site: New York, New York REPRESENTATION OF PARTIES Claimants, Stanley Peskin ("S. Peskin"), Beth Peskin ("B. Peskin"), Alan Schultz ("A. Schultz"), Edith Schultz ("E. Schultz"), and the Milton Sch