Coastal Securities Corporation 1888 Century Park E., Suite 1606 Los Angeles, California 90067

TO: All NASD Members

ATTN: Operations Officer, Cashier, Fail-Control Department

On May 3, 1985, the United States District Court for the Central District of California appointed a SIPC Trustee 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:

SIPC Trustee

Gavin Miller, Esquire
Hufstedler, Miller, Carlson & Beardsley
Sixteenth Floor, 700 South Flower Street
Los Angeles, California 90017
Telephone: (213) 629-4200