Securities Listed on OTC
J.D. Seibert & Co., Inc. – 3^rd Quarter 2004

Summary Statistics:

Non-directed orders as percentage of total customer orders   523/523
Market orders as percentage of total non-directed orders     288/523
Limit orders as percentage of total non-directed orders      211/523
Other orders as percentage of total non-directed orders      24/523

Venues receiving significant percentage of total non-directed orders:

Knight Securities                                            519/523
Charles Schwab                                               4/523

Information Concerning significant Venues:

Knight Securities

Type of Orders Routed to Venue:

Limit orders as percentage of total limit orders             208/211
Market orders as percentage of total market orders           287/288
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             3/211
Market orders as percentage of total market orders           1/288