N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. In the matter of the Arbitration Between Name of Claimant Norman Vierlink v. NASD Arbitration No. 95-00595 Name of Respondents Thomas Lee Nelson and Than/Value Equities Group, Inc. REPRESENTATION For Claimant: Richard Sacks Investors Recovery Service Novato, California For Respondent: G. Thomas Fleming III, Esq. and Michael A. Amiri, Esq., Jones, Bell, Simpson & Abbo

NASD AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. In the Matter of the Arbitration Between PriscillaD. Sewell and Merrill Lynch. Pierce, Fenner & Smith, Inc. and Bobby W. Huff; Jr. NASD Case Number 95-00580 REPRESENTATION OF PARTIES Claimant, Priscilla D. Sewell was represented by Anton E. Fraps, IV, Esq., Sole Practitioner, located in Houston, Texas. Respondents, Merrill Lynch, Pierce, Fenner & Smith, Inc. and Bobby W. Huff, Jr. w

v . NASD AWARD ™ ~ * . NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. In the Matter of the Arbitration Between Catherine Brown, Claimant, vs. No. 95-00578 Bank of America Investment Services, Inc., and Robert Scott Thorns, Respondents. and Consolidated Angeline S. Pappas, Claimant, vs. No. 95-00596 Bank of America Investment Services, Inc., and Robert Scott Thorns, Respondents. REPRESENTATlpN QF PARTIES Catherin

* I NASD AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. In the Matter of the Arbitration Between Grace M. Cowling, Claimant v. No. 95-00574 Merrill Lynch, Pierce, Fenner & Smith, Inc., and Jean A. Gonsalo, Respondents. REPRESENTATION OF PARTIES Grace M. Cowling ("Claimant") was represented by Joseph R. Colantuano, Esq., of Posenilli, White, Vardeman & Shalton, Overland Park, Kansas. Merrill Lynch, Pierce, Fenner & Smith,

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Names of Claimants John Walker and Lisa Walker 95-00571 Names of Respondents Kemper Securities, Inc. Lovett Underwood Neuhaus & Webb, Inc. Douglas B. Shaw and Trevor D. Ling REPRESENTATION John and Lisa Walker ("Claimants") were represented by Woodrow Epperson, Esq., Sole Practitioner, located in Houston, TX. Kemper Securities, Inc.

AWARD NASD Regulation, Inc. Office of Dispute Resolution In the Matter of the Arbitration Between A.D. Sylvester and Agnes Sylvester, Claimants, and No. 95-00570 Philip Jonathan Eitman, Respondent, REPRESENTATION OF PARTIES Claimant A.D. Sylvester and Agnes Sylvester were represented by William S. Shepherd, Esquire of Houston, Texas. Respondent Philip Jonathan Eitman was represented pro se. CASE INFORMATION Claimants A.D. Sylvester a

Stipulated Award NASD Dispute Resolution In the Matter of the Arbitration Between: Herbert L. Michel, Jr., Herbert L. Michel, Profit Sharing Plan, Herbert L. Michel, IRAs, Herbert Michel, Your Legal Power, and Herbert L. Michel, IRA Rollovers, Claimants v. Morgan Stanley Dean Witter, Merrill Lynch, Pierce, Fenner & Smith, Inc., and Jason R. Guttenberg, Respondents Case Number: 00-03833 Hearing Site: Las Vegas, Nevada Nature of the Dispute: Customers v.

Award NASD Regulation, Inc. In the Matter of the Arbitration Between: Kemper Securities, Inc.. n/k/a First Union Securities. Inc. (Claimant) vs. Robert Lemons (Respondent) Case Number: 95-00569 Hearing Site: Chicago, Illinois REPRESENTATION OF PARTIES Claimant Kemper Securities. Inc., n/k/a First Union Securities. Inc. ("Kemper"): Renan Sugarman. Esq., First Union Securities Legal Department. Chicago, Illinois. Respondent Robert Lemons failed to app

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimants) J. C. Bradford & Co. 95-00568 Name of Respondents) William L.& Diane L. Milliard REPRESENTATION For Claimant appeared Claude O. Ramer, II, Esq. of J.C. Bradford & Co. Respondents appeared Pro Se. CASE INFORMATION The Statement of Claim was filed on February 3, 1995. Claimant's Submission Agreement was signed on Februa

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. In the matter of the Arbitration Between Name of Claimant Kemper Securities, Inc. v. Name of Respondent Paul Justi NASD Arbitration No. 95-00567 REPRESENTATION For Claimant: For Respondent: Don Andrews, Esq. Kemper Securities, Inc. Chicago, Illinois Paul Justi, Pro Se Pasadena, California CASE INFORMATION Statement of Claim filed: Claimant