Award NASD Dispute Resolution, Inc. In the Matter of the Arbitration Between Names of Claimants David Bradley Blue Chip Cash Flow Case No. 00-00444 Names of Respondents First Liberty Investment Group, Inc. Blake Lane Christopher Clem Eugene Stice Hearing Site: Tampa, Florida REPRESENTATION OF PARTIES For David Bradley ("Bradley") and Blue Chip Cash Flow ("Blue Chip"), hereinafter collectively referred to as "Claimants": M. Da

Stipulated Award NASD Dispute Resolution In the Matter of the Arbitration Between: Charles B. Boris and Carol A. Boris (Claimants) v. Merrill Lynch, Pierce, Fenner & Smith, Inc., Lawrence Joseph Ramsay, and Rose Dorothy Wehmeyer (Respondents) Case Number: 03-01379 Hearing Site: New York, New York Nature of the Dispute: Customers v. Member and Associated Persons. REPRESENTATION OF PARTIES Claimants Charles B. Boris and Carol A. Boris ("The Borises") here

NASD DISPUTE RESOLUTION AWARD NASD DISPUTE RESOLUTION CASE: 03-01378 Maxim Group LLC, Claimant/Counterclaim Respondent v. David L. Yusupov, Respondent/Counterclaimant. ATTORNEYS: For Claimant/Counterclaim Respondent, Maxim Group LLC, appeared Richard L. Rose, Esq., Woodbury, NY. For Respondent/Counterclaimant, David L. Yusupov, appeared Brendan R. Marx, New York, NY. NATURE OF DISPUTE: Member v. Associated Person DATE FILED: February 25, 2003

NASD DISPUTE RESOLUTION AWARD NASD DISPUTE RESOLUTION CASE; 03-01377 Maxim Group LLC, Claimant v. Denis Frelinghausen, Respondent. ATTORNEYS: For Claimant, Maxim Group LLC, ("Claimant"), appeared in-house counsel, Edward L. Rose, Esq., Woodbury, NY. Respondent, Denis Frelinghausen, ("Respondent"), appeared pro se, Darver, CT. NATURE OF DISPUTE: Member v. Associated Person DATE FILED: February 25, 2003 CASE SUMMARY: Claimant alleged that Responde

NASD DISPUTE RESOLUTION AWARD NASD DISPUTE RESOLUTION CASE: 03-01376 PHD Capital Management Corporation LLC., Claimant vs. Justin Inniss, Respondent. ATTORNEYS: For Claimant appeared Michael S. Colombo of the firm StreetWide Asset Recovery Group, Inc., Jersey City, NJ. Respondent did not respond to the Statement of Claim. DATE FILED: February 25, 2003 CASE SUMMARY: Claimant alleged that Respondent has failed to repay monies owed being a balance

Stipulated Award NASD Dispute Resolution In the Matter of the Arbitration Between: Names of the Claimants Case Number: 03-01369 George Oram Patricia Oram Names of the Respondents Hearing Site: Boca Raton, Florida K.W, Brown Investments, Inc. Kenneth William Brown Wendy Elizabeth Brown K.W. Brown Investments 21 s1 Century Advisors, Inc. Nature of the Dispute: Customer v. Member, Associated Person and Non-member. REPRESENTATION

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Name of the Claimant Johnnie Williams, Jr. Names of the Respondents Irving Warman, Fiserv Investor Services, Inc., PFIC Securities Corp. and BHCM, Inc. Case Number: 03-01368 Hearing Site: Boca Raton, Florida Nature of the Dispute: Customer vs. Member and Associated Person. REPRESENTATION OF PARTIES For Johnnie Williams, Jr., hereinafter referred to as "Claimant": Cur

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Lloyd Rudy, Jr., M.D, on behalf of the Lloyd Rudy, Jr. Rollover IRA, Claimant v. John G. Woodhead, Sr., Phelps & Woodhead Investments, and D.A. Davidson & Co., Respondents Case Number: 03-01366 Hearing Site: Seattle, Washington Nature of the Dispute: Customer v. Members and Associated Person REPRESENTATION OF PARTIES For Claimant: Maris Baltins, Esq. Winston & Cashatt Spokan

NASD DISPUTE RESOLUTION AWARD NASD DISPUTE RESOLUTION CASE: 03-01360 Bonnie J. Haycraft, Claimant v. D.A. Davidson & Co. and Con L. Wilcox, Respondents. ATTORNEYS: For Claimant, Bonnie J. Haycraft, ("Claimant"), appeared Terry C. Haycraft, Tacoma, WA. For Respondents, D.A. Davidson & Co. and Cort L. Wilcox, ("Respondents") appeared Anders T. Berry, Esq., Great Falls, MT. NATURE OF DISPUTE: Customer v. Member and Associated Person DATE FILED: Februar

AWARD NASD Dispute Resolution In the Matter of the Arbitration Between Claimant Dale E. Frey v. 03-01359 Denver, Colorado Respondents D.E. Frey & Company, Inc., D.E. Frey Group, Inc., First Allied Securities, Inc., Royce Nies, Paul L. Hocevar, Larry D. Hay den, and David Wharton Nature of Dispute: Associated Person v. Member, Terminated Member, Associated Persons and Non-Member REPRESENTATION OF PARTIES Dale E. Frey ("Claimant")