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

Summary Statistics:

Non-directed orders as percentage of total customer orders   409/409
Market orders as percentage of total non-directed orders     267/409
Limit orders as percentage of total non-directed orders      140/409
Other orders as percentage of total non-directed orders      2/409

Venues receiving significant percentage of total non-directed orders:

Knight Securities                                            366/409
Fleet                                                        43/409

Information Concerning significant Venues:

Knight Securities

Type of Orders Routed to Venue:

Limit orders as percentage of total limit orders             125/140
Market orders as percentage of total market orders           239/267
Other orders as percentage of total other orders             2/2


Fleet

Type of Orders Routed to Venue:

Limit orders as percentage of total limit orders             15/140
Market orders as percentage of total market orders           28/267