Securities Listed on Option Market – 4th Quarter 2003
J.D. Seibert & Co., Inc.

Summary Statistics:

Non-directed orders as percentage of total customer orders   89/89
Market orders as percentage of total non-directed orders     16/89
Limit orders as percentage of total non-directed orders      73/89
Other orders as percentage of total non-directed orders      0/89

Venues receiving significant percentage of total non-directed orders:

AMEX                                                         9/89
CBOE                                                         69/89
PCOS                                                         11/89

Information Concerning significant Venues:

AMEX

Type of Orders Routed to Venue:

Limit orders as percentage of total limit orders             9/73


CBOE

Type of Orders Routed to Venue:

Limit orders as percentage of total limit orders             53/73
Market orders as percentage of total market orders           16/16


PCOS

Type of Orders Routed to Venue:

Limit orders as percentage of total limit orders             11/73