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

Summary Statistics:

Non-directed orders as percentage of total customer orders   100.0%
Market orders as percentage of total non-directed orders     50.2%
Limit orders as percentage of total non-directed orders      45.8%
Other orders as percentage of total non-directed orders      4.0%

Venues receiving significant percentage of total non-directed orders:

Knight Securities                                            99.5%
Charles Schwab                                               0.5%

Information Concerning significant Venues:

Knight Securities

Type of Orders Routed to Venue:

Limit orders as percentage of total limit orders             99.3%
Market orders as percentage of total market orders           99.7%
Other orders as percentage of total other orders             100.0%


Charles Schwab

Type of Orders Routed to Venue:

Limit orders as percentage of total limit orders             0.7%
Market orders as percentage of total market orders           0.3%