Important Notice

A 4790 - June 26, 1998
P&S 4352

TO: ALL PARTICIPANTS

ATTENTION:  P&S MANAGER, CASHIER

SUBJECT: WHEN ISSUED SETTLEMENTS

As a result of a Processing Problem, trades compared in the following securities did not settle on the appropriate settlement dates.

 

SYMBOL

CUSIP

DESCRIPTION

WHEN-ISSUED
SETTLEMENT DATE

GILWI

AWXWI

375916103

05343P109

GILDAN ACTIVEWEAR CLA

AVALON HLDGS CLA

6/24/98

6/25/98

To correct this problem, NSCC will settle all When-Issued trades for the above securities on Monday, June 29, 1998. We apologize for any inconvenience this system problem might have caused.

Any questions regarding this Notice should be directed to NSCC Participant Services at (212) 412-8432 or the undersigned at (212) 855-2371.

Kevin Brennan
Director, Operations