Securities Listed on Option Market – 4th Quarter 2002
                 J.D. Seibert & Co., Inc.                       

Summary Statistics:

Non-directed orders as percentage of total customer orders   161/161
Market orders as percentage of total non-directed orders     28/161
Limit orders as percentage of total non-directed orders      133/161
Other orders as percentage of total non-directed orders      0/161

Venues receiving significant percentage of total non-directed orders:

AMEX                                                         45/161
CBOE                                                         81/161
Philadelphia                                                 12/161
PCOS                                                         23/161

Information Concerning significant Venues:

AMEX

Type of Orders Routed to Venue:

Limit orders as percentage of total limit orders             37/133
Market orders as percentage of total market orders           8/28


CBOE

Type of Orders Routed to Venue:

Limit orders as percentage of total limit orders             65/133
Market orders as percentage of total market orders           16/28


Philadelphia

Type of Orders Routed to Venue:

Limit orders as percentage of total limit orders             11/133
Market orders as percentage of total market orders           1/28


PCOS

Type of Orders Routed to Venue:

Limit orders as percentage of total limit orders             20/133
Market orders as percentage of total market orders           3/28