Securities Listed on OTC
J.D. Seibert & Co., Inc. - 2^nd Quarter 2004

Summary Statistics:

Non-directed orders as percentage of total customer orders   601/601
Market orders as percentage of total non-directed orders     302/601
Limit orders as percentage of total non-directed orders      275/601
Other orders as percentage of total non-directed orders      24/601

Venues receiving significant percentage of total non-directed orders:

Knight Securities                                            598/601
Charles Schwab                                               3/601

Information Concerning significant Venues:

Knight Securities

Type of Orders Routed to Venue:

Limit orders as percentage of total limit orders             273/275
Market orders as percentage of total market orders           301/302
Other orders as percentage of total other orders             24/24


Charles Schwab

Type of Orders Routed to Venue:

Limit orders as percentage of total limit orders             2/275
Market orders as percentage of total market orders           1/302