Award NASD Dispute Resolution In the Matter of the Arbitration Between: Name of the Claimant Morgan Stanley DW, Inc. Name of the Respondent Bernard J. Zarnesky Case Number: 04-08006 Hearing Site: Boca Raton, Florida Nature of the Dispute: Member vs. Associated Person. REPRESENTATION OF PARTIES For Morgan Stanley DW, Inc. ("MSDW"), hereinafter referred to as "Claimant": Diane C. Fischer, Esq., Kane and Fischer, Ltd.., Chicago, Illinois.

AWARD NASD Dispute Resolution In the Matter of the Arbitration Between Name of Claimant Howe Barnes Investments, Inc. and 04-08000 Chicago, Illinois Name of Respondents David A. Noyes & Company Michael R. Ochoa Mario G. Bernardi Nature of the Dispute: Member vs. Member and Associated Persons. REPRESENTATION OF PARTIES Howe Barnes Investments, Inc. ("Claimant") was represented by David T. B. Audley, Esq., Chapman and Cutler LLP, C

NASD DISPUTE RESOLUTION AWARD NASD DISPUTE RESOLUTION. INC. CASE:01-00369 Vanguard Capital, claimant vs. David M. Vitale, respondent. ATTORNEYS: For Claimant appeared Brian Zaid, in-house counsel, San Diego, CA. Respondent appeared Pro Se, Pacific Beach, CA. DATE FILED: January 23, 2001 CASE SUMMARY: Claimant alleged that respondent has failed to pay the debit balance on his margin account. Claim Data Award Data Claim: $19,448.35 Award: $19,

NASD DISPUTE RESOLUTION AWARD NASD DISPUTE RESOLUTION CASE: 04-07999 Richard Zuckerman and Vanna Zuckerman, (Claimants) vs. Merrill Lynch, Pierce, Fenner & Smith, Inc., (Respondent) ATTORNEYS: " Claimants appeared pro se, Miami, FL. For Respondent appeared Andrea Morgan Greene, Esq., of the firm Maynard, Cooper & Gale, P.C., Birmingham, AL. NATURE OF DISPUTE: Customers vs. Member DATE FILED: November 16, 2004 CASE SUMMARY: Claimants alleged

AWARD NASD Dispute Resolution In the Matter of the Arbitration Between Claimant Dorothy M. Mechenberg v. 04-07986 Denver, Colorado Respondent Multi-Financial Securities Corporation, as Successor in interest to Vestex Corporation Nature of Dispute: Associated Person v. Member REPRESENTATION OF PARTIES Dorothy M. Mechenberg ("Claimant") was represented by Stuart N. Bennett, Esq., and Patrick Compton, Esq., of Lindquist & Vennum, PLLP,

NASD DISPUTE RESOLUTION AWARD NASD DISPUTE RESOLUTION CASE: 04-07985 Greg Jordan, Parent and Custodian for Jonathan Jordan, a Minor Child, Claimant v. Morgan Stanley DW, Inc., Respondent ATTORNEYS: For Claimant Greg Jordan, Parent and Custodian for Jonathan Jordan, a Minor Child ("Claimant") appeared J. Benton Stewart, II, Esq., The Stewart Law Group, P.L.L.C., Tampa, FL. For Respondent Morgan Stanley DW, Inc. ("Respondent") appeared Harrison Kaufma

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Sam Zullo (Claimant) v. First Montauk Securities Corp. fka Montauk Financial Group, Gerald Sharpe, Thomas Fallon, and Nick D'Amico (Respondents) Case Number: 04-07983 Hearing Site: Cleveland, Ohio Nature of the Dispute: Customer v. Member and Associated Bersons REPRESENTATION OF PARTIES Claimant Sam Zullo, hereinafter referred to as "Claimant": James S. Jones, Esq., Poland, OH.

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Names nf the Claimants i , Case Number! 04-07976 Ruth Teresa Tyson William Tyson & Ann Marie Tyson, JTWROS Names of the Respondents Hearing Site! Raleigh, North Carolina Citigroup Global Markets, Inc. Jack B. Grubman Nature of the Dispute: Customers vs. Member and Associated Person. REPRESENTATION OF PARTIES Claimants, Ruth Teresa Tyson and William Tyson & Ann Marie Tyso

NASD DISPUTE RESOLUTION AWARD NASD DISPUTE RESOLUTION CASE: 04-07965 Westpark Capital, Inc., (Claimant) vs. Michael Edward Carbone, (Respondent) ATTORNEYS: For Claimant appeared Westpark Capital in-house counsel Anthony C. Pintsopoulos, Los Angeles, CA. Respondent did not file a Statement of Answer in this matter. NATURE OF DISPUTE: Member v. Associated Person DATE FILED: November 4,2004 CASE SUMMARY: Claimant alleged that Respondent has failed

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Steven L. Moldane, Claimant v. Princor Financial Services Corporation f/k/a Principal Financial Services Corporation, Linda R. Gordon, and Craig G. Bolanos, Jr., Respondents Case Number: 04-07961 Hearing Site: Seattle, Washington Nature of the Dispute: Customer v. Member and Associated Persons REPRESENTATION OF PARTIES For Claimant: For Respondent Princor Financial Services