| **-------------------------------------------------------------------------------------------------------------------------------------------------------** |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

| DOCUMENT: | **NC** | **2** |
|-----------|--------|-------|

|  | **News        Release: Indefinite Postponement of Effective Date of        Interpretation** |
|--|-----------------------------------------------------------------------------------------------|

| DATE: | 12/11/96 | FR        PAGE: | N/A | PAGES: | 1 |
|-------|----------|------------------|-----|--------|---|

|  | **-------------------------------------------------------------------------------------------------------------------------------------------------------** |
|--|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **-------------------------------------------------------------------------------------------------------------------------------------------------------** |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

| DOCUMENT: | **CL** | **1** |
|-----------|--------|-------|

|  | **Taucher,        Frank (Including Clarification 09/23/96)** |
|--|---------------------------------------------------------------|

| DATE: | 9/20/96 | FR        PAGE: | N/A | PAGES: | 19 |
|-------|---------|------------------|-----|--------|----|

|  | **-------------------------------------------------------------------------------------------------------------------------------------------------------** |
|--|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **-------------------------------------------------------------------------------------------------------------------------------------------------------** |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

| DOCUMENT: | **CL** | **2** |
|-----------|--------|-------|

|  | **Anonymous** |
|--|---------------|

| DATE: | 9/26/96 | FR        PAGE: | N/A | PAGES: | 3 |
|-------|---------|------------------|-----|--------|---|

|  | **-------------------------------------------------------------------------------------------------------------------------------------------------------** |
|--|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **-------------------------------------------------------------------------------------------------------------------------------------------------------** |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

| DOCUMENT: | **CL** | **3** |
|-----------|--------|-------|

|  | **Tepper,        Michael** |
|--|-----------------------------|

| DATE: | 10/3/96 | FR        PAGE: | N/A | PAGES: | 3 |
|-------|---------|------------------|-----|--------|---|

|  | **-------------------------------------------------------------------------------------------------------------------------------------------------------** |
|--|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **-------------------------------------------------------------------------------------------------------------------------------------------------------** |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

| DOCUMENT: | **CL** | **4** |
|-----------|--------|-------|

|  | **Managed        Futures Association** |
|--|-----------------------------------------|

| DATE: | 10/4/96 | FR        PAGE: | N/A | PAGES: | 2 |
|-------|---------|------------------|-----|--------|---|

|  | **-------------------------------------------------------------------------------------------------------------------------------------------------------** |
|--|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **-------------------------------------------------------------------------------------------------------------------------------------------------------** |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

| DOCUMENT: | **CL** | **5** |
|-----------|--------|-------|

|  | **Thunman,        B.A.** |
|--|---------------------------|

| DATE: | 10/10/96 | FR        PAGE: | N/A | PAGES: | 1 |
|-------|----------|------------------|-----|--------|---|

|  | **-------------------------------------------------------------------------------------------------------------------------------------------------------** |
|--|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **-------------------------------------------------------------------------------------------------------------------------------------------------------** |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

| DOCUMENT: | **CL** | **6** |
|-----------|--------|-------|

|  | **Newsletter Publishers Association** |
|--|---------------------------------------|

| DATE: | 10/11/96 | FR        PAGE: | N/A | PAGES: | 2 |
|-------|----------|------------------|-----|--------|---|

|  | **-------------------------------------------------------------------------------------------------------------------------------------------------------** |
|--|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **-------------------------------------------------------------------------------------------------------------------------------------------------------** |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

| DOCUMENT: | **CL** | **7** |
|-----------|--------|-------|

|  | **Dynamic        Traders Group, Inc.** |
|--|-----------------------------------------|

| DATE: | 10/11/96 | FR        PAGE: | N/A | PAGES: | 1 |
|-------|----------|------------------|-----|--------|---|

|  | **-------------------------------------------------------------------------------------------------------------------------------------------------------** |
|--|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

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