MBD Investors, Inc. RD#1 Box 60 AA Enon Valley, Pennsylvania 16120

TO: All NASD Members

ATTN: Operations Officer, Cashier, Fail-Control Department

On Friday, May 27, 1983, the United States District Court for the Western District of Pennsylvania, appointed the Securities Investor Protection Corporation as Trustee for MBD Investors, Inc.

Members may use the "immediate close-out" procedures as provided in Section 59(i) of the NASD's Uniform Practice Code to close out open OTC contracts. Also, MSRB Rule G-12 (h)(iv) provides that members may use the above procedures to close out transactions in municipal securities.

Questions regarding the firm should be directed to:

Securities Investor Protection Corporation
Attention: Mr. Michael M. Marx
Suite 800, Farragut Building
900 Seventeenth Street, N. W.
Washington, D. C. 20006
Telephone: (202) 223-8400

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