Collins Securities Corporation 400 Tower Building Fourth & Center Streets Little Rock, Arkansas

TO: All NASD Members

ATTN: Operations Officer, Cashier, Fail-Control Department

On April 16, 1985, the Federal District Court for the Eastern District of Arkansas appointed a Temporary Receiver for the above-captioned firm.

Members may use the "immediate close-out" procedures as provided in Section 59 (i)(2) of the NASD's Uniform Practice Code to close out open OTC contracts. Also, MSRB Rule G-12 (h)(iii) provides that members may use the above procedures to close out transactions in municipal securities.

Questions regarding the firm should be directed to:

Temporary Receiver

Harvey L. Bell, Esquire
Bell, Bilheimer & Associates, P. A.
902 West Second Street
Little Rock, Arkansas 72201
Telephone: (501) 376-1600