Gattini & Co. 74 Trinity Place New York, New York

TO: All NASD Members

ATTN: Operations Officer, Cashier, Fail-Control Department

On February 1, 1984, the United States District Court for the Southern District of New York appointed a SIPC trustee for the above captioned firm.

Members may use the "immediate close-out" procedures as provided in Section 59(1) 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:

SIPC Trustee

William J. Rochelle, III
Skadden, Arps, Slate, Meagher & Flom
919 Third Avenue
New York, New York 10022
Telephone: (212) 371-6000