TK Securities, Inc. 1450 North Dixie Highway Fort Lauderdale, Florida 33304

TO: All NASD Members

ATTN: Operations Officer, Cashier Fail-Control Department

On October 4, 1985, the United States District Court for the Southern District of Florida, Miami Division, 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

Samuel A. Brodnax, Jr., Esquire
Smathers & Thompson
Alfred I. DuPont Building
169 E. Flagler Street
Miami, Florida 33131
Telephone: (305) 379-6523