A#	5912
P&S #:	5482
DATE:	October 8, 2004
TO:	ALL PARTICIPANTS
ATTENTION:	MANAGER, PURCHASES AND SALES DEPARTMENT; CASHIER; FUND/SERV PARTICIPANTS; ACATS PARTICIPANTS; MUNICIPAL BOND COMPARISON PARTICIPANTS
FROM:	Pablo Cubi, Membership Administration
SUBJECT:	CHANGES IN THE LIST OF PARTICIPANTS

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

Last Trade Date, October 8, 2004:

PFPC Distributors, Inc./Trainer Wortham Funds                                                                  No.     6673

·         The following firm will begin participation in the Commission Settlement service, as detailed below:

First Trade Date, October 5, 2004:

SEI Investments Distribution Company/Oak Assoc. Fund                                                     No.     5761

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

First Trade Date, October 8, 2004:

Top Flight Fund                                                                                                                   No.     5461

Networking Code:                                                                                                                          IE

Contact: James Boden

Phone:  (801) 785-8848                                                                                              

·         An additional number has been assigned to PFPC Distributors, Inc. (#6658) for the purpose of utilizing the Fund/SERV, Networking, ACATS Fund/SERV and Commission Settlement services, as detailed below:

First Trade Date, October 18, 2004:

      PFPC Distributors, Inc./Highland Funds                                                                               No.     5979

      Networking Code:                                                                                                                          F8

      Contact:  Eileen Gifedder                                                                                             

      Phone:  (508) 871-3725

·         The following firms will change their names only, as detailed below:

Effective, First Trade Date, November 1, 2004:

      From:  CDC IXIS Asset Management Distributors, LP                                                         No.     5542

      To:       IXIS Asset Management Distributors, L.P.                                                               No.     5542

From:  CDC IXIS Asset Management Distributors, LP/Loomis Sayles Funds                       No.     5714

      To:      IXIS Asset Management Distributors, L.P./Loomis Sayles Funds                               No.     5714

·                    Kindly update the NSCC Directory dated July 9, 2004 (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, October 5, 2004:
J. Alexander Securities, Inc.	PFSI	0234	ALEX
Cardinal Capital Management, Inc.	PFSI	0234	COIN
Add First Trade Date, October 6, 2004:
Glendale Securities, Inc.	CCLS	0265	GLEN
OptionsXpress, Inc.	LGNT	0052	OPXI
Executing Broker Name Change, Effective First Trade Date, October 5, 2004:
From:  Hold Brothers On-Line Investment Services, Inc.	SWST	0279	ONLI
To:      Hold Brothers On-Line Investment Services, LLC	SWST	0279	ONLI
Clearing Broker Change, Effective First Trade Date, October 8, 2004:
From:  First Midwest Securities, Inc.	RAGN	0733	FMSI
To:      First Midwest Securities, Inc.	LGNT	0052	FMSI
From:  Newcourt Securities, LTD	ABNA	0425	NWCT
To:      Newcourt Securities, LTD	MLCO	0161	NWCT

·                    Kindly update the NSCC Directory dated July 9, 2004 (for OTC Executed-By List) as detailed below:

	Clearing Broker Identifiers		Executing Broker Identifiers
	Alpha	Numeric	Alpha	Numeric
Delete Last Trade Date, October 6, 2004:
Fidelity International Securities, Inc.	NFSC	0226	CNCP
Delete Last Trade Date, October 7, 2004:
Soundview Technology Corporation	BSSC	0352	SNDV
Add First Trade Date, October 6, 2004:
Putnam Lovell NBF Securities Inc.	FMAF	5008	PTLV
	Clearing Broker Identifiers		Executing Broker Identifiers
	Alpha	Numeric	Alpha	Numeric
Add First Trade Date, October 7, 2004:
Redsky Securities, LLC	PRST	0551	REDS
Add First Trade Date, October 15, 2004:
Phoenix Securities, Inc.	CCLS	0265	PHNX
Clearing Broker Change, Effective First Trade Date, October 8, 2004::
From: Alfa Capital Markets (USA), Inc.	ANA	0425	ALFA
To:     Alfa Capital Markets (USA), Inc.	PERS	0443	ALFA

·                    Kindly update the NSCC Directory dated July 9, 2004 (for Municipal Bond Comparison) as detailed below:

	Clearing Broker Identifiers		Executing Broker Identifiers
	Alpha	Numeric	Alpha	Numeric
Delete Last Trade Date, October 7, 2004:
Alfa Capital Markets (USA), Inc.	ABNA	0425	ALFA
Clearing Broker Change, Effective First Trade Date, October 13, 2004:
From:  Petrie Parkman & Co., Inc.	BOFA	0773	PTRI
To:      Petrie Parkman & Co., Inc.	PERS	0443	PTRI
Executing Broker Name Change, Effective First Trade Date, October 7, 2004:
From:  Fidelity International Securities, Inc.	NFSC	0226	CNCP
To:      Constitution Capital Corporation	NFSC	0226	CNCP

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