Stipulated Award COPY NASD Dispute Resolution ^^ ^^ • • In the Matter of the Arbitration Between: William Bernard and Barbara Bernard, Claimants v. Morgan Stanley DW Inc., Jeffrey N. McFadden and Wayne L. Gilliam, Respondents Case Number: 03-03565 Hearing Site: San Francisco, California Nature of the Dispute: Customers vs. Member and Associated Persons REPRESENTATION OF PARTIES For Claimants: Timothy A. Canning, Esq. Novato, California For Respo

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Larry Willard, Claimant v. Morgan Stanley DW Inc., formerly known as Morgan Stanley Dean Witter, Inc., Respondent Case Number: 03-03563 Hearing Site: San Francisco, California Nature of the Dispute: Customer vs. Member REPRESENTATION OF PARTIES For Claimant: Steven L. Miller, Esq. Attorney At Law Encino, California For Respondent: Eric G. Wallis, Esq. Reed Smith LLP

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Cantone Research, Inc. (Claimant) v. Caspar (Joe) Quattrochi and Quattro Consulting Inc., and Joseph Pacillo (Respondents) Case Number: 03-03561 Hearing Site: New York, New York Nature of the Dispute: Member v. Associated Persons and Non-Member. REPRESENTATION OF PARTIES Claimant, Cantone Research, Inc. ("CRT), hereinafter referred to as "Claimant?: Christine L. Cantone, Cantone

AWARD NASD Dispute Resolution, Inc. In the Matter of the Arbitration Between Robert W. Baird & Co., Inc. and 01-01325 Grand Rapids, Michigan Farouq Karadsheh REPRESENTATION OF PARTIES Robert W. Baird & Co., Inc. ("Claimant") was represented by Gregory G. Wille, Esq., Wille, Gregory & Lundeen, Milwaukee, Wisconsin. Farouq Karadsheh ("Respondent") did not appear. CASE INFORMATION The Statement of Claim was filed on or about March 15,2001.

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Oppenheimer & Co., A Division of Fahnestock & Co., Inc. (Claimant) v. Adam H. Andres (Respondent) Case Number: 03-03556 Hearing Site: New York, New York Nature of the Dispute: Member vs. Associated Person. REPRESENTATION OF PARTIES Claimant Oppenheimer & Co., A Division of Fahnestock & Co. ("Oppenheimer") hereinafter referred to as "Claimant": Andrew Kohler, Esq., Oppenheimer &

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Ronald J. Keilly (Claimant) v. Sands Brothers & Co. Ltd., Steven B. Sands, and Martin S. Sands (Respondents) Case Number: 03-03553 Hearing Site: New York, New York Nature of the Dispute: Customer vs. Member and Associated Persons. REPRESENTATION OF PARTIES Claimant Ronald J. Keilly ("Keilly") hereinafter referred to as "Claimant": Leslie Trager, Esq., Morley & Trager, New York,

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Edward W. Bigler and Sandra K. Bigler, Claimants v. Merrill Lynch, Pierce, Fenner & Smith Incorporated, Philip J. Loftus, John P. Hughie and William D. Brewer, Respondents Case Number: 03-03548 Hearing Site: Portland, Oregon Nature of the Dispute: Customers v. Member and Associated Persons REPRESENTATION OF PARTIES For Claimants: James C. Loy, Esq. Attorney at Law Portland,

Stipulated Award NASD Dispute Resolution In the Matter of the Arbitration Between: Names of the Claimants Case Number: 03-03543 Dana J. Weinkle and Susan H. Weinkle JTTEN Dana J.Weinkle IRA Susan Holloway Weinkle IRA Dana J. Weinkle on behalf of Palm Coast Eye Center P.A. Profit Sharing Plan F/N/A Dana J. Weinkle TTEE Profit Sharing Plan U/A/D 07/07/95 FBO Dana J. Weinkle Dana J. Weinkle Cust for Justin J. Weinkle UTMA/FL Dana J. Weinkle Cus

Stipulated Award NASD Dispute Resolution In the Matter of the Arbitration Between: Name of the Claimant Case Number: 03-03541 Elta Cheramie Names of the Respondents Hearing Site: New Orleans, Louisiana UBS PaineWebber, Inc. Thomas Breaux Bill Miller Dan Shaw Nature of the Dispute: Customer vs. Member and Associated Person. REPRESENTATION OF PARTIES For Elta Cheramie, hereinafter referred to as "Claimant": J. Douglas Sunseri, Esq., Nicaud

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Names of the Claimants Michael A. and Joann Collegio, individually and as joint tenants Name of the Respondent Morgan Stanley DW, Inc., a Delaware corporation Case Number: 03-03539 Hearing Site: Boca Raton, Florida Nature of the Dispute: Customer vs. Member. REPRESENTATION OF PARTIES For Michael A. and Joann Collegio, individually and as joint tenants, hereinafte