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

Summary Statistics:

Non-directed orders as percentage of total customer orders   100.0%
Market orders as percentage of total non-directed orders     55.1%
Limit orders as percentage of total non-directed orders      40.3%
Other orders as percentage of total non-directed orders      4.6%

Venues receiving significant percentage of total non-directed orders:

Knight Securities                                            99.2%
Charles Schwab                                               0.8%

Information Concerning significant Venues:

Knight Securities

Type of Orders Routed to Venue:

Limit orders as percentage of total limit orders             98.6%
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             1.4%
Market orders as percentage of total market orders           0.3%