NASD Regulation, Inc. AWARD OFFICE OF DISPUTE RESOLUTION In the Matter of the. Arbitration Between Name of Claimant Johanna M. Kluger Johanna M. Kluger Revocable Trust 95-05986 Name of Respondents Merrill Lynch Pierce Fenner & Smith, Inc. Bruce Arnold Chappell William L. Johnson REPRESENTATION For Claimants: Eric A. Lanigan, Esq. of the Law Office of Eric A. Lanigan, Winter Park, Florida. For Respondents: Michael E. Olney, Esq. of Me

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimants Donald Arken and Robert Arken 95-05978 Name of Respondents Washington Discount Brokerage Corp. Waterhouse Securities, Inc. REPRESENTATION For claimants Donald Arken and Robert Arken ("claimants") appeared Donald Arken. For respondents Washington Discount Brokerage Corp. ("Washington") and Waterhouse Securities, Inc. ("Wate

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Perk & Schmidt International BV 95-05977 Name of Respondents Roger Watkins Watkins Perk International, Inc. Watkins International Securities, Inc. REPRESENTATION For Claimant Perk & Schmidt International BV ("Claimant"), appeared Michael P. Kaelin, Esq. of the law firm Kelley, Drye & Warren located in Stamford, Connecticut.

AWARD NASD REGULATION. INC.. DISPUTE RESOLUTION In the matter of the Arbitration Between Name of Claimant Gregory L. Fullerton NASDR Arbitration #95-05966 vs. Name of Respondent^) Smith Barney, Inc. Robert H. Potter REPRESENTATION For Claimant: Gregory D. Phillips, Esq., Kimball, Parr, Waddoups, Brown & Gee, Salt Lake City, Utah For Respondents: William A. Hohauser, Esq., Smith Barney, Inc., New York, New York CASE INFORMATIO

AWARD NASD REGULATION. INC.. OFFICE OF DISPUTE RESOLUTION In the matter of the Arbitration Between Name of Claimants Rossmore Enterprises Money Purchase Pension Plan, Philip S. Sirianni, and Janice B. Sirianni, TTEEs v. Name of Respondents Titan/Value Equities Group, Inc., J. B. Bogart & Associates, Inc., Alex Eitelbach, and Mark Fractor Arbitration No. 95-05941 REPRESENTATION For Claimants: For Respondents Titan Valu

AWARD NASD Regulation, Inc. In the Matter of the Arbitration Between Name of Claimants Community Hospital of Springfield & Clark County, Community Hospital Retirement Plan & Clark County Dialysis Facility, Inc. vs. Name of Respondents Kidder, Peabody & Co., Incorporated David Beale 95-05939 & 95-05948 (Consolidated) Name of Third Party Claimant Kidder, Peabody & Co., Inc. vs. Name of Third Party Respondents Ronald K.

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Norma I. Sanchez c/f Carla Segurola and Normarie Segurola 95-05938 Name of Respondent Dean Witter Reynolds Inc. CASE SUMMARY In a claim filed with the National Association of Securities Dealers, Inc. on December 20, 1995, Claimant Norma Sanchez, who appeared Pro Se, alleged that Respondent Dean Witter Reynolds, Inc. ("Responden

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Vishnubhai N. and Maltiben V. Patel JTWROS 95-05933 Name of Respondents Buttonwood Security Inc./Security Planner Inc. Sal Waisburt CASE SUMMARY In a claim filed with the National Association of Securities Dealers, Inc. on December 19, 1995, Claimants Vishnubhai N. and Maltiben V. Patel, JTWROS ("Claimants"), alleged that Respo

f Award NASD Dispute Resolution In the Matter of the Arbitration Between: Richard J. Benci and Debra A. Bend, Claimants v. Citigroup Global Markets, Inc. file/a Salomon Smith Barney, Inc., John P. Rudningen, and Donald T. Davis, Respondents Case Number: 01-01121 Hearing Site: San Diego, California REPRESENTATION OF PARTIES For Claimants: For Respondents: Virginia H. Gaburo, Esq. Virginia H. Gaburo & Associates San Diego, California

AWARD NASD Regulation, Inc. In the Matter of the Arbitration Between Name of Claimants Tecnoconsult Holdings Limited and IFG Properties, N.V. vs. 95-05923 Name of Respondents Cowen & Company Joseph M. Cohen Edward I. Herbst REPRESENTATION The Claimants were represented by: John Pritchard, Esq., Edward Flanders, Esq., and Johnita P. Due, Esq., assisted by Juan Carlos Ospina, Paralegal, Winthrop, Stimson, Putnam & Roberts, New York