Securities Listed on OTC
J.D. Seibert & Co., Inc. – 4^th Quarter 2004

Summary Statistics:

Non-directed orders as percentage of total customer orders   100.0%
Market orders as percentage of total non-directed orders     49.3%
Limit orders as percentage of total non-directed orders      45.9%
Other orders as percentage of total non-directed orders      4.9%

Venues receiving significant percentage of total non-directed orders:

Knight Securities                                            98.1%
Aegis Capital                                                0.6%
Charles Schwab                                               1.3%

Information Concerning significant Venues:

Knight Securities

Type of Orders Routed to Venue:

Limit orders as percentage of total limit orders             98.2%
Market orders as percentage of total market orders           97.7%
Other orders as percentage of total other orders             100.0%


Aegis Capital

Type of Orders Routed to Venue:

Limit orders as percentage of total limit orders             1.1%
Market orders as percentage of total market orders           0.3%


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           2.0%