REMINDER

• The following firm retired from OTC trade comparison ONLY, as detailed below:

Last Trade Date May 29, 1998:
Cantor Fitzgerald Partners No. 0584
OTC Alpha Identifier: ESBI

• An additional number was assigned to Cantor Fitzgerald & Co. (#0696) for the purpose of participating in OTC, Corporate and Municipal Bond, When-Issued CNS, Regular Way CNS comparison systems, Envelope Settlement Services and RECAPS as detailed below:

First Trade Date June 1, 1998
Cantor Fitzgerald & Co./CF Partners No. 0464
OTC Alpha Identifier: ESBI
Envelope Settlement Location (Y=New York)

• An additional clearing number has been assigned to the Canadian Depository for Securities Limited for the purpose of effecting the clearance and settlement of transactions on behalf of its member, Le Groupe Option Retraite Inc./CDS as detailed below:

First Trade Date June 15, 1998:
Le Groupe Option Retraite Inc./CDS No. 5054
Envelope Receive Location - Toronto (Env. - A)

• The following firms will begin participation in the Fund/Serv Commission Settlement service as detailed below:

First Trade Date June 4, 1998:
Tower Square Securities, Inc. No. 0354

First Trade Date, June 8, 1998:
U.S. Bancorp Investments, Inc. No. 0280

• The following insurance companies will begin participation in the Annuities Processing Service (APS) as detialed below:

First Trade Date, June 11, 1998:
Sun Life Assurance Company of Canada (U.S.) No. 4518
Sun Life Insurance and Annuity Company of New York No. 4519

• The following firm will retire from all services as detailed below:

Last Settlement Date June 12, 1998:
The Ohio Company No. 0196

All open contracts which are to be cleared or settled or delivered through or by National Securities Clearing Corporation have been assumed by BHC Securities Inc. No. 0632.

• The following firm has changed its name as detailed below:

Effective Immediately:
From: Deutsche Morgan Grenfell Inc. No. 0498
To: Deutsche Bank Securities Inc. No. 0498

• As a result of the acquisition of ESI Securities Company by The Bank Of New York, the following name change will occur as detailed below:

Effective Immediately:
From: ESI Securities Company No. 0100
To: BNY ESI & Co., Inc. No. 0100

• The following member of the NSCC/DTC Fund/Serv Interface will retire from all services as detailed below:

Last Trade Date June 5, 1998:
Riggs Bank, N.A. No. 0941

• Correction to NSCC Important Notice A# 4775 P&S# 4338 dated May 29, 1998.

The addition of Prudential Investment Management Services, L.L.C. was incorrectly reported to be effective with a First Trade Date of June 27, 1998. It should read as follows: First Settlement Date June 1, 1998.

• Kindly update the OTC Executed-By List and the Municipal Bond Comparison Directory dated January 2, 1998 as detailed below:

• Kindly update the OTC Executed-By List as detailed below:

The following firms have submitted Executed Networking Agreements during the week of June 5, 1998:

Miller & Schroeder Financial, Inc.
Burke, Christensen and Lewis Securities, Inc.

Mackenzie Investment Management, Inc.

If you have any questions, please call William Reilly at (212) 412-8620 or Lisa Siebold at (212) 412-8591.

Jan Meola
Vice President, Membership