Securities Listed on Option Market – 1st Quarter 2004
J.D. Seibert & Co., Inc.

Summary Statistics:

Non-directed orders as percentage of total customer orders   115/115
Market orders as percentage of total non-directed orders     7/115
Limit orders as percentage of total non-directed orders      108/115
Other orders as percentage of total non-directed orders      0/115

Venues receiving significant percentage of total non-directed orders:

AMEX                                                         15/115
CBOE                                                         92/115
PCOS                                                         8/115

Information Concerning significant Venues:

AMEX

Type of Orders Routed to Venue:

Limit orders as percentage of total limit orders             13/108
Market orders as percentage of total market orders           2/7


CBOE

Type of Orders Routed to Venue:

Limit orders as percentage of total limit orders             87/108
Market orders as percentage of total market orders           5/7


PCOS

Type of Orders Routed to Venue:

Limit orders as percentage of total limit orders             8/108