Award NASD Dispute Resolution In the Matter of the Arbitration Between: Hani Jabshen and River Investments (Claimants) v. UBS Financial Services, Inc. f/k/a UBS PaineWebber, Inc. (Respondents) Case Number: 04-03404 Hearing Site: New York, New York Nature of the Dispute: Customers vs. Member. REPRESENTATION OF PARTIES Claimants Hani Jabshen ("Jabshen") and River Investments ("River") hereinafter collectively referred to as "Claimants": David B. Gordo

Award NASD Dispute Resolution, Inc. In the Matter of the Arbitration Between: Chabbetay Sabbagh and Ester Sabbagh, (Claimants) vs. First Madison Securities, Inc.,,David Polushkin, Michael Roth, and Amir Sabetian, (Respondents) Case Number: 01-00091 Hearing Site: New York, New York REPRESENTATION OF PARTIES Claimants, Chabbetay Sabbagh and Ester Sabbagh, hereinafter collectively referred to as "Claimants": Max Markus Katz, Esq., Max Markus Katz, P.C., Ne

CASE: 04-03401 William C. Rand, Claimant v. Citicorp Investment Services, Respondent ATTORNEYS: For Claimant, William C. Rand, ("Claimant"), appeared William Rand, Esq. of the firm Coudert Brothers, L.L.P., New York, NY. Respondent, Citicorp Investment Services ("Respondent"), appeared in-house counsel, David Gorfinkel, Esq., Long Island City, NY. NATURE OF DISPUTE: Customer vs. Member. DATE FILED: May 10, 2004. CASE SUMMARY: Claimant alleged that R

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Annie Chin Bombard (Claimant) v. Richard Rubino, Samuel Liang, Advisory Group Equity Services, Ltd., Trust Advisory Group, Ltd., Rubin & Liang, LLC, and R & L Insurance Agency, LLC, and Stephen C. Olsson (Respondents) Case Number: 04-03390 Hearing Site: Boston, Massachusetts Nature of the Dispute: Customer vs. Member, Non-Members, and Associated Persons. REPRESENTATION OF PARTIES

Award NASD Dispute Resolution In the Matter of the Arbitration Between: p l^nmher: 04-03384 Paul D. and Ernestine Lee Luna n f th p R^Fprridffnts Heaving SH ft - Dallas, Texas Legg Mason Wood Walker, Inc. and Reeve M. Vannostrand Customer v. Member Firm and Associated Person OF Claimants Paul D, and Ernestine Lee Luna, hereinafter collectively referred to as "Claimants": Paul D. Luna of Mexia, Texas. Respondents Legg

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Names of the Claimants Case Number: 04-03380 Joann E. Desrosiers Estate of Wilfred N. Desrosiers Joann E. Desrosiers Revocable Trust Name of the Respondent Hearing Site: Tampa, Florida Robert W. Baird & Co. Incorporated Name of the Third Party Respondent David Desrosiers Nature of the Dispute: Customer vs. Member v. Customer. REPRESENTATION OF PARTIES For Joann E

AWARD NASD Dispute Resolution In the Matter of the Arbitration Between Claimants Melvin Gutknecht and Frances Gutknecht v. 04-03375 Minneapolis, Minnesota Respondents Berthel Fisher & Company Financial Services, Inc. and Lawrence Wilton Warren Nature of Dispute: Customers v. Member and Associated Person REPRESENTATION OF PARTIES Melvin Gutknecht and Frances Gutknecht ("Claimants") were represented by Sidney J. Spaeth, Esq., of Vogel,

Stipulated Award NASD Dispute Resolution In the Matter of the Arbitration Between: Names nf the Claimants i i Ada M. Strausberg Ada M. Strausberg as P/R of the Estate of Gary I Strausberg Names nf the Respondents William I Kissinger Kissinger Financial Services, Inc. Preston Management, Inc. Kissinger Advisory, Inc. Case Number- 04-03371 Hearing Site: Baltimore, Md Nature of the Dispute: Customers vs. Non-Members and Associated Perso

Stipulated Award NASD Dispute Resolution In the Matter of the Arbitration Between: Salvatore J. Pistilli and Jean A. Pistilli, JTWROS (Claimants) v. Merrill Lynch, Pierce, Fenner & Smith, Inc., and Carla Bond (Respondents) Case Number: 04-03359 Hearing Site: Newark, New Jersey Nature of the Dispute: Customers v. Member and Associated Person REPRESENTATION OF PARTIES Claimants Salvatore J. Pistilli ("S. Pistilli) and Jean A. Pistilli ("J. Pistilli*'), JT

NASD DISPUTE RESOLUTION AWARD NASD DISPUTE RESOLUTION CASE: 04-03355 Michael Morra, Claimant v. Morgan Stanley DW, Inc. and Frank Castro, Respondents ATTORNEYS: For Claimant Michael Morra ("Claimant") appeared Renee Pearce of John Jay Legal Services, Inc., White Plains, NY. For Respondents Morgan Stanley DW, Inc. and Frank Castro (collectively "Respondents") appeared Harrison A. Kaugman, Esq., in-house counsel, Morgan Stanley DW, Inc., New York, NY.