Stipulated Award NASD Dispute Resolution In the Matter of the Arbitration Between: The Rt. Rev. Victor M. Rivera and Barbara Rivera, individually, and Maria P. Rivera, as Successor Trustee of the Victor and Barbara Rivera Living Trust U/A dated 05/31/01, Claimants v. RBC Dain Rauscher Inc. and James Hutton, Respondents Case Number: 03-06068 Hearing Site: San Francisco, California Nature of the Dispute: Customers v. Member and Associated Person REPRESENT

Stipulated Award NASD Dispute Resolution In the Matter of the Arbitration Between: Guido V. Lavorini, individually and in his capacity as Trustee of The Lavorini Family Trust DTD 6/18/91 and The Lillian Lavorini Family Trust, Claimants v. Morgan Stanley DW Inc., Sbubie Gulati and Jonathan M. Guidi, Respondents Case Number: 03-06067 Hearing Site: San Francisco, California Nature of the Dispute: Customers v. Member and Associated Persons REPRESENTATION OF

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Name nf the Claimant Case Number- 03-06060 William K. Maynard Names nf the Respondents Hearing Site* Philadelphia, PA PNC Bank Corp. (a member of the PNC Financial Services Group), PNC Investments (a division of J.J.B. Hilliard, W.L. Lyons, Inc.), J.J.B. Hilliard, W.L. Lyons, Inc., and Jeffrey McKinnon Nature of the Dispute: Customer vs. Non-Members, Member and Assoc

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Iris Lilly (Claimant) v. JJ.B. Hilliard, W.L. Lyons, Inc. and Brian K. Music (Respondents) Case Number: 03-06059 Hearing Site: Columbus, Ohio Nature of the Dispute: Customer vs. Member and Associated Person. REPRESENTATION OF PARTIES Claimant Iris Lilly ("Lilly") hereinafter referred to as "Claimant": Jeffrey B. Musslewhite, Esq., previously Duane E. Tobias, Esq., Woska & Hasbrook,

Stipulated Award NASD Dispute Resolution In the Matter of the Arbitration Between: Peter Lupoli (Claimant) v. Michael T. Kuczinski, Investors Capital Corp. and Walnut Securities, Inc. (Respondents) Case Number: 03-06057 Hearing Site: New York, New York Nature of the Dispute: Customer v. Members and Associated Person. REPRESENTATION OF PARTIES Claimant Peter Lupoli ("Lupoli"), hereinafter referred to as "Claimant": Howard S. Meyers, Esq., of Meyers &

Stipulated Award NASD Dispute Resolution In the Matter of the Arbitration Between: Names of the Claimants Adriana Rose, individually and as Trustee of the Adriana Rose IRA, and as Joint Tenant, and Ferdinand Bonilla and Steve Rose, as Joint Tenants Names of the Respondents Morgan Stanley Dean Witter Linda Kirschbaum Case Number: 03-06053 Hearing Site: Boca Raton, Florida Nature of the Dispute: Customer vs. Member and Associated Person.

* 1 Revised Award In the Matter of the Arbitration Between: ££: 01-01630 Roger Peak and Susan Peak p nf fl-)p, KftgpQfldfflfg jjflp.grjflg ftit^-' Houston, Texas First Union Securities, Inc., UBS PaineWebber, Inc., and John Phelps Claimant, Roger Peak and Susan Peak, hereinafter referred to as "Claimants": Annette M. Henry Esq., Annette M. Henry, Attorney at Law, located in Houston, Texas. Respondents, First Union Securities, Inc., ("First U

NASD DISPUTE RESOLUTION AWARD NASD DISPUTE RESOLUTION CASE: 03-06049 Ray Koury, Claimant v. J. Sergio Bohon, Respondent. ATTORNEYS: Claimant, Ray Khoury, ("Claimant"), appeared pro se, Albany, CA. For Respondent, J. Sergio Bohon, ("Respondent"), appeared the in-house counsel of the associated firm at the time of the dispute, Morgan Stanley DW Inc., Ronald E. Wood, Esq., Los Angeles, CA. NATURE OF DISPUTE: Customer v. Associated Person DATE FILED

Stipulated Award NASD Dispute Resolution In the Matter of the Arbitration Between: Robert J. Peat Case Number: 03-06044 Claimant, v. Hearing Site: St. Louis, Missouri MUrjen Financial, Inc., Michael P, Murphy and Olympia Asset Management Ltd. Respondents. NATURE OF THE DISPUTE Customer vs. Member Firm and Associated Person REPRESENTATION OF PARTIES Robert J. Peat ("Peat"), hereinafter referred to as "Claimant": Michael D. Hart, Esq. of t

NASD DISPUTE RESOLUTION AWARD NASD DISPUTE RESOLUTION CASE: 03-06032 William F. Cohen IRA, and William F. Cohen Family Trust Claimant v. Merrill Lynch Pierce Fenner & Smith, Inc., Respondent. ATTORNEYS: Claimant, William F. Cohen IRA, and William F. Cohen Family Trust ("Claimants"), appeared pro se, New York, NY. Respondent, Merrill Lynch Pierce Fenner & Smith, Inc., ("Respondent"), appeared through their in-house counsel, Brett D. Sherman, Esq., Ne