N.A.S.D.-AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimants Ronald H. Ward Alfred V. Cognetti 95-05595 Name of Respondent Pruco Securities Corp. REPRESENTATION For Claimants, Ronald H. Ward ("Ward") and Alfred V. Cognetti ("Cognetti"): Allan J. Fedor, Esq. and Franell Fedor, Esq., Fedor & Fedor, of Largo, Florida. For Respondent, Pruco Securities Corp. ("Pruco"): Michael A. Schlang

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Paragon Capital Corporation 95-05593 Name of Respondents Lascelies Alexander Knight Theodore Andrew Werner i CASE SUMMARY In a claim filed with the National Association of Securities Dealers, Inc. on November 29, 1995, Claimant Paragon Capital Corporation ("PCC"), through its representative and in-house counsel, Michele

NASD REGULATION, INC. AWARD OFFICE OF DISPUTE RESOLUTION In the Matter of the Arbitration Between Name of Claimant Matthew B. Proman 95-05581 Name of Respondents Stephen Palumbo Karen Zanger Hie Harriman Group, Inc. REPRESENTATION For Claimant Matthew B. Proman ("Claimant") appeared Anthony J. Horn, a sole practitioner with offices in Philadelphia, Pennsylvania. For Respondents Stephen Palumbo ("Palumbo"), Karen Zanger ("Zanger"), an

AWARD NASD Dispute Resolution, Inc. In the Matter of the Arbitration Between Name of Claimant Renee Bathe and 01-01104 Scottsdale, Arizona Name of Respondents North Coast Securities Corp. Frank A. Katona REPRESENTATTON OF PARTIES Renee Bathe ("Claimant") was represented by David C. Anson, Esq., Anson Lammers, P.C., Tucson, Arizona. North Coast Securities Corp. ("Respondent North Coast") and Frank A. Katona ("Respondent Katona")(c

NASD REGULATION AWARD NASD REGULATION, OFFICE OF DISPUTE RESOLUTION In the Matter of the Arbitration Between Name of Claimant Kenneth N. Porterfield Name of Respondents Smith Barney Shearson, Inc. The Estate of Stephen J. Schappell Mercer Securities, LTD Mercer Securities, Inc. Lawrence G. Stevens William Boyd, HI NASD Regulation Case No. 95-05559 BEFORE: Theodore M, Simon, Esq., Public Arbitrator, Chair Mr. Frank T. Sale

NASD Regulation, Inc. AWARD NASD Regulation, Inc. In the Matter of the Arbitration Between Name of Claimant(s) Raymond James & Associates, Inc. Brent E. Peoples Mark G. Thompson Robert W. Fritz The Estate of William C. French 95-05555 Name of Rcspondcnt(s) Smith Barney Shearson, Inc. Marileigh Fay Hensley REPRESENTATION Claimants Raymond James & Associates, Inc. ("RJA"), Brent E. Peoples ("Peoples"), Mark G. Thompson ("Thomps

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS. INC. In the matter of the Arbitration Between Name of Claimants Lawrence Tabak and Vitalife, Inc. v. NASD Arbitration No. 95-05547 Name of Respondents H.D. Brous and Company Inc., Howard D. Brous, Angelo Paul Koupas and David Soiferman REPRESENTATION For Claimants: H. Thomas Fehn, Esq. Fields, Fehn & Sherwin Los Angeles, California For Respondents: Keith Olin, Esq. Morgan

NASD REGULATION, INC, AWARD • NATIONAL ASSOCIATION OF SECURITIES DEALERS [n the Matter of the Arbitration Between Name of Claimant Ruth W. Rosenfield 95-05501 Name of Respondents A.J. Michaels & Co., Ltd. Andre Korogodon Robert Murphy REPRESENTATION For Claimant Ruth W. Rosenfield ("Claimant") appeared Louis W. Bauman, Esq., of the law firm of Mazzanti, Maron & Bauman, LLP located in Scarsdale, New York. For Respondents AJ. Micha

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS. INC In the matter of the Arbitration Between Name of Claimant(s) Harvey Collins and Harold Tennan Name of Respondents) M.L. Stern & Co., Inc. NASD Arbitration No. 95-05487 REPRESENTATION For Claimant: For Respondent: Statement of Claim filed: James Jordan, Esq. Solish, Jordan, Arbiter & Weiner Los Angeles, California James Portman, Esq. M.L. Stern & Co., Inc.

Award NASD Dispute Resolution, Inc. In the Matter of the Arbitration Between: Romel J. and Barbara Mackelprang, Claimants v. Stratton Oakmont, Inc., Andrew S. Friedman and Richard A. Miller, Respondents Case Number: 95-05484 Hearing Site: Salt Lake City, Utah REPRESENTATION OF PARTIES For Claimants: Delano S. Findlay, Esq. Salt Lake City, Utah For Respondent Andrew S. Friedman: Andrew S. Friedman, pro se Plain view, New York For Respondent R