Award NASD Dispute Resolution In the Matter of the Arbitration Between: Name of Claimant Kovack Securities, Inc. Name of Respondent Howard P. Murray Case Number: 02-05557 Hearing Site: Boca Raton, Florida RKPRKSENTATTON OF PARTIES For Kovack Securities, Inc., hereinafter referred to as "Claimant": Brian J. Kovack, Esq., Kovack Securities, Inc., Fort Lauderdale, Florida, and Curtis Carlson, Esq., Payton & Carlson, P.A., Miami, Florida.

NASD DISPUTE RESOLUTION AWARD NASD DISPUTE RESOLUTION CASE: 02-05553 Dean Galvin, claimant vs. Empire Financial Group, Inc., respondent. ATTORNEYS: Claimant appeared pro se, Orlando, FL. Respondent appeared through its Compliance Manager, Randy Cupples, Longwood, FL. DATE FILED: September 19, 2002 CASE SUMMARY: Claimant alleged that respondent failed to correct erroneous transactions executed in his account. Claimant contended that respondent liquid

NASD DISPUTE RESOLUTION AWARD NASD DISPUTE RESOLUTION CASE: 02-05551 Mark Alexander, claimant vs. Jac Tomasello, Greg Randall and U.S. Discount Brokerage, Inc., respondents. ATTORNEYS: Claimant appeared pro se, Mayfield Hts., OH. Respondents appeared pro se through Jac Tomasello, President, Rocky River, OH. DATE FILED: September 19, 2002 CASE SUMMARY: Claimant/counterclaim respondent alleged that respondents/counterclaim claimants breached the E

Award NASD Dispute Resolution In the Matter of the Arbitration Between: S. Jay Kazan, Claimant v. Lebenthal & Company n.k.a. Advest, Inc. and Scott I. Klein, Respondents Case Number: 02-05548 Hearing Site: Las Vegas, Nevada Nature of Dispute: Customer v. Member Firm and Associated Person REPRESENTATION OF PARTIES For Claimant: S. Jay Hazan In Pro Per Las Vegas, Nevada For Respondents: Phillip S. Wellman, Esq. Advest, Inc. Hartford, C

Award NASD Dispute Resolution In the Matter of the Arbitration Between: William S. G ach and M artha Woods, ( Claimants) v. S igma Financial C orporation and William R. Henzey, (Respondents) Case Number: 02-05544 Hearing Site: Cleveland, Ohio REPRESENTATION OF PARTIES Claimants, William S. Gach ("Gach") and Martha Woods ("Woods"), hereinafter collectively referred to as "Claimants": Jonathan E. Rosenbaum, Esq., Rosenbaum & Muhek, Elyria, OH. Res

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Steven Churchill, Claimant v. J.P. Turner & Company, L.L.C., Ian S. Katz, Kenneth S. Vesely, Institutional Equity Corporation, Institutional Equity Holdings, Inc., Joseph C. Crouch, Michael J. Pata, Steven Dubinsky, Vincent R- Drohan, Robert A. Shuey, Ill, Thomas W. Laundrie, Jeffrey W. Michel, Reza A. Mokhberi, William L. Mello, Timothy W. McAfee, Stephen John Fisher, and Stephen C. Ba

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Estate of Ruth Wilson (Claimant) v. Advest, Inc. and David Maynard (Respondents) Case Number: 02-05540 Hearing Site: Boston, Massachusetts Nature of the Dispute: Customer vs. Member and Associated Person. REPRESENTATION OF PARTIES Claimant Estate of Ruth Wilson ("Wilson") hereinafter referred to as "Claimant": Howard M. Rosenfield, Esq., Farmington, CT. Respondents Advest, Inc.

AWARD NASD Dispute Resolution In the Matter of the Arbitration Between Name of Claimant Bernard C. Pobocik and Case Number: 02-05537 Hearing Site: Southfield, Michigan Names of Respondents Raymond James and Associates, Inc., successor to Roney & Co. and Terry Davidson NATURE OF DISPUTE Customer v. Member Firm and Associated Person REPRESENTATION OF PARTIES Bernard C. Pobocik ("Claimant") was represented by D. Michael Kratchman, E

AWARD NASD Dispute Resolution, Inc. In the Matter of the Arbitration Between Name of Claimant Mitchell Epstein, Executor for the Estate of Shirley Epstein, and Trustee of the Shirley Epstein Revocable Trust dtd 09/24/2001 and 00-04027 Kansas City, Missouri Name of Respondents Stifel Nicolaus & Company, Inc. Anton R. Cecrle Lawrence A. Manica REPRESENTATION OF PARTIES Mitchell Epstein, Executor for the Estate of Shirley Epstein, and T

CASE: 02-05534 Warren Karl Hansen, Claimant vs. Katherine Renee Cook, Respondent. ATTORNEYS^ Claimant, Warren Karl Hansen ("Claimant") appeared pro se., Boca Raton, FL. Respondent, Katherine Renee Cook ("Respondent") appeared pro se., Dallas, TX DATE FILED: September 18, 2002 CASE SUMMARY: Claimant alleged that Respondent violated NASD Code of Procedure, Rule 10201 and filed a civil suit in a Texas court. Claimant maintained that due to Respondent's act