MV Securities, Inc. 11 Broadway, 17th Floor New York, New York

TO: All NASD Members

ATTN: Operations Officer, Cashier, Fail-Control Department

On March 14, 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(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:

SIPC Trustee

Lee S. Richards III, Esquire
Grais & Richards
44 Wall Street, Suite 1100
New York, New York 10005
Telephone: (212) 514-9000