Securities Listed on OTC – 1st Quarter 2003
J.D. Seibert & Co., Inc.

Summary Statistics:

Non-directed orders as percentage of total customer orders   405/405
Market orders as percentage of total non-directed orders     264/405
Limit orders as percentage of total non-directed orders      139/405
Other orders as percentage of total non-directed orders      2/405

Venues receiving significant percentage of total non-directed orders:

Knight Securities                                            362/405
Fleet                                                        43/405

Information Concerning significant Venues:

Knight Securities

Type of Orders Routed to Venue:

Limit orders as percentage of total limit orders             124/139
Market orders as percentage of total market orders           236/264
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             15/139
Market orders as percentage of total market orders           28/264