A#:

P&S#:

5649

5219

DATE:

July 11, 2003

TO:

ALL PARTICIPANTS

ATTENTION:

MANAGER, PURCHASES AND SALES DEPARTMENT; CASHIER; FUND/SERV PARTICIPANTS; ACATS PARTICIPANTS; MUNICIPAL BOND COMPARISON PARTICIPANTS

FROM:

Pablo Cubi, Associate Director, Membership Administration

SUBJECT:

CHANGES IN THE LIST OF PARTICIPANTS

·        The following firm will begin participation in the Fund/Serv, Networking, and Commission Settlement services, as detailed below:

First Trade Date, July 14, 2003:

Safeco Investment Services, Inc.                                                                                   No   0427

Networking Code:                                                                                                               7R

Contact:  Eloise Acacio

Phone:    (425) 376-5610

·        Additional numbers have been assigned to Quasar Distributors, LLC (#5869) for the purpose of utilizing the Fund/Serv, Networking and ACATS Fund/Serv services, as detailed below:

First Trade Date, July 15, 2003:

Quasar Distributors, LLC/NorCap Funds                                                                     No.  4899

Networking Code:                                                                                                               8O

Contact:  James Schoenike

Phone:    (414) 287-3994

Quasar Distributors, LLC/Jacob Internet Fund                                                              No.  4960

Networking Code:                                                                                                               8K

Contact:  James Schoenike

Phone:    (414) 287-3994

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

Last Trade Date, July 11, 2003:

DBTC Americas/Belk Profit Sharing Plan                                                                     No.  0905

·          Kindly update the NSCC Directory dated January 13, 2003 (for OTC Executed-By-List and Municipal Bond Comparison System) as detailed below:

 

Clearing Broker

Identifiers

Executing Broker

Identifiers
 

Alpha

Numeric

Alpha

Numeric

Delete Last Trade Date, July 11, 2003:

        

Colin Winthrop & Co., Inc..

CCLS

0265

CWCI

  

Wasserstein Perella Securities, Inc.

BOFA

0773

WPCO

  
         

Delete Last Trade Date, August 15, 2003:

        

Kirkpatrick, Petis, Smith, Polian, Inc.

LGNT

0052

KPSP

  
         

Add First Trade Date, July 10, 2003:

        

PSG Executions Inc.

SILK

0501

PSGX

  
         

Clearing Broker Change and Executing Broker Symbol Change, Effective First Trade Date, July 14, 2003:

        

From:  Cabrera Capital Markets, Inc.

BHCS

0632

FRSC

  

To:      Cabrera Capital Markets, Inc.

FSWC

0309

CABR

  

·                    Kindly update the NSCC Directory dated January 13, 2003 (for OTC Executed-By List) as detailed below:

 

Clearing Broker

Identifiers

Executing Broker

Identifiers
 

Alpha

Numeric

Alpha

Numeric

Delete Last Trade Date, July 11, 2003:

        

Onyx Trading Corporation

GLDS

0325

ONYX

  
         

Delete Last Trade Date, August 8, 2003:

        

Investec Ernst & Company

BHCS

0632

ERNS

  
         

Add First Trade Date, July 14, 2003:

        

Bear Stearns & Co. Inc.

BSSC

0352

BEAR

  
         

Executing Broker Name Change, Effective First Trade Date, July 14, 2003:

        

From:  MVP Financial LLC

SILK

0501

MVPF

  

To:      Grace Financial Group LLC

SILK

0501

MVPF

  

If you have any questions regarding this notice, please contact Frank DeRiso at (212) 855-4941 or Miriam Santiago at (212) 855-4947.