Securities Listed on Option Market – 2nd Quarter 2003
J.D. Seibert & Co., Inc.

Summary Statistics:

Non-directed orders as percentage of total customer orders   100.0%
Market orders as percentage of total non-directed orders     13.3%
Limit orders as percentage of total non-directed orders      86.7%
Other orders as percentage of total non-directed orders      0.0%

Venues receiving significant percentage of total non-directed orders:

AMEX                                                         8.2%
CBOE                                                         87.8%
Philadelphia                                                 1.0%
PCOS                                                         3.1%

Information Concerning significant Venues:

AMEX

Type of Orders Routed to Venue:

Limit orders as percentage of total limit orders             7.1%
Market orders as percentage of total market orders           15.4%


CBOE

Type of Orders Routed to Venue:

Limit orders as percentage of total limit orders             88.2%
Market orders as percentage of total market orders           84.6%


Philadelphia

Type of Orders Routed to Venue:

Limit orders as percentage of total limit orders             1.2%


PCOS

Type of Orders Routed to Venue:

Limit orders as percentage of total limit orders             3.5%