AWARD NASD REGULATION, INC.. OFFICE OF DISPUTE RESOLUTION In the matter of the Arbitration Between Name of Claimant Irwin H. Shapiro v. Arbitration No. 96-03904 Name of Respondent Smith Barney, Inc. REPRESENTATION For Claimant: Benjamin Blakeman, Esq. Mantalica & Treadwell Los Angeles, California For Respondent: Etta M. Gumbs, Esq. Smith Barney, Inc. New York, New York CASE INFORMATION Statement of Claim filed: August

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Charles E. Krpata, Charles and Brenda Krpata Trust, and Charles E. Krpata IRA, Claimants v. Joseph Roberts & Co., Inc., John David Mull, Joseph Frank DeSanto, and Mark James McLain, Respondents Case Number: 00-05176 Hearing Site: San Francisco, California Nature of the Dispute: Customers v. Member and Associated Persons REPRESENTATION OF PARTIES For Claimants: Matthew R. Rutherf

AWARD NASD Regulation, Inc. In the Matter of the Arbitration Between Jerry Midgett, Claimant, v. No. 96-03902 Bear Stearns & Co., Inc., and Damion Carufe, Respondents. REPRESENTATION OF PARTIES Claimant Jerry Midgett ("Claimant") was represented by Erwin Cohn, Esq. of Cohn & Cohn located in Chicago, Illinois. Respondents Bear Stearns & Co., Inc. and Damion Carufef'Respondents") were represented by Terry R. Weiss, Esq. and M. Grah

N.A.S.D. REGULATION AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Joan M. Larsen 96-03901 Name of Respondents E.F. Mutton & Company, Inc. Tim Burkes CASE SUMMARY In a case filed with National Association of Securities Dealers Regulation, Inc. on September 3, 1996, claimant Joan Larsen ("claimant"), who appeared Pro Se, alleged that respondents E.F. Hutton & Company. Inc. ("E.F.

AWARD NASD REGULATION INC. OFFICE OF DISPUTE RESOLUTION In the matter of the Arbitration Between Name of Claimant Universe Textile, Inc. v. Arbitration No. 96-03896 Name of Respondents Thomas C. Green, Thomas Green Securities, Inc., Thomas Green, Inc. •*. * REPRESENTATION For Claimant: Mr. Gordon Orlick, Esq. Arteta, California For Respondents: Mr. Robert S. Barry, Esq. Loeb&LoebLLP Los Angeles, California CASE INFORMATIO

AWARD NASD Regulation, Inc. Office of Dispute Resolution In the Matter of the Arbitration Between Paul Spadafore, and Connie Spadafore, Claimants and Counter-Respondents, v. Michigan Securities & Underwritings, Inc., Cantella & Co., Inc., and David L. Alexa, Respondents, Counter-Claimants and Third Party Claimants, v. Scott Spadafore, Scott Spadafore, Third Party Respondent. Consolidated with: Claimant and Counter-Respond

AWARD NASD Regulation, Inc. Office of Dispute Resolution In the Matter of the Arbitration Between Name of Claimant Arland C. Johnson and 96-03881 Name of Respondent John G. Kinnard and Company, Inc. Jack Naastad REPRESENTATION OF PARTIES Arland C. Johnson ("Claimant") was represented by Ralph T. Smith, Esq., Smith Law Firm, P.A. Bemidji, Minnesota. John G. Kinnard and Company, Inc. ("Respondent Kinnard") and Jack Naastad ("Respondent

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between N^me of Claimant Legg Mason Wood Walker, Inc 96-03876 Name of Respondent Charles G. Cowden REPRESENTATION For Claimant: Michael S. Taaffe, Esq., of the law firm of Abel, Band, Russell, Collier, Pitchford & Gordon* Chtd., Sarasota, FL. Respondent Charles G..Cowden appeared pro se, CASE INFORMATION Statement of Claim filed: August 30, 199

AWARD NASD Regulation, Incorporated Office of Dispute Resolution In the Matter of Arbitration Between Bert Ferganchick, Ann Ferganchick, Mark Ferganchick, and Sonya Ferganchick, Claimants, and No. 96-03875 Principal Financial Securities, Inc., Respondent. REPRESENTATION OF PARTIES Claimants, Bert Ferganchick, Ann Ferganchick, Mark Ferganchick, and Sonya Ferganchick (hereinafter collectively referred to as "Claimants'*), were represented by B

NASD REGULATION, INC. AWARD In the Matter of the Arbitration Between Name of Claimants Peter Ripley Gloria Denton Patricia Neri Estate of William R. Ripley 96-03873 Name of Respondents Saperston Financial, Inc. Arnold M. Nazarian Michael Murphy REPRESENTATION For Claimants Peter Ripley ("Ripley"), Gloria Denton ("Denton"), Patricia Neri ("Neri"), and the Estate of William R. Ripley (the "Estate"), collectively referred to as