SEC NEWS DIGEST Issue 2004-42 March 3, 2004 COMMISSION ANNOUNCEMENTS COMMISSION RULE PROPOSAL ON MUTUAL FUND REDEMPTION FEE On March 2, the Commission proposed a new rule under the Investment Company Act that would require mutual funds (with certain limited exceptions) to impose a two percent redemption fee on the redemption of shares purchased within the previous five days. The redemption fee would be retained by the fund. The rule is designed to require short-term shareholders to reimburse the mutual fund for costs incurred when they use the fund to implement short-term trading strategies, such as market timing. In addition, the Commission is requesting comment on how funds can more effectively implement fair value pricing methods, and whether the Commission should provide further guidance in this area. The Commission also is requesting comment on whether there are additional tools that the Commission should consider to combat market timing. Comments must be received on or before May 10, 2004. (Rel. IC-26375; File No. S7-11-04) SEC GRANTS EXTENSION OF INTERMARKET TRADING SYSTEM DE MINIMIS EXEMPTION On March 3, the Commission granted an extension of the de minimis exemption from the provisions of the Intermarket Trading System Plan (ITS Plan) governing intermarket trade-throughs. The de minimis exemption was originally issued by the Commission on Aug. 28, 2002, and extended on May 30, 2003. The Commission's orders exempted from the trade-through provisions of the ITS Plan transactions in three specific exchange-traded funds (ETFs): the Nasdaq-100 Index ETF (QQQ), the Dow Jones Industrial Average ETF (DIA), and the Standard & Poor's 500 Index ETF (SPY). The exemption permits transactions in the three ETFs to be effected at prices no more than three cents worse than the national best bid and offer. In the Commission's May 2003 order, the Commission extended the three cent de minimis exemption through March 4, 2004, in order to assess trading data associated with the de minimis exemption and to consider whether to adopt the de minimis exemption on a permanent basis, to adopt some other alternative solution, or to allow the exemption to expire. As a result of its review, the Commission has proposed, as part of its market structure initiatives, Regulation NMS under the Securities Exchange Act of 1934, as amended, which would include a new rule relating to trade-throughs. Today's order extends this de minimis exemption for an additional nine-months through Dec. 4, 2004. Over the next several months, the Commission intends to consider proposed Regulation NMS, together with any comments received, and determine whether to adopt the proposed trade-through rule or an alternative approach. Depending on the action the Commission takes on proposed Regulation NMS prior to Dec. 4, 2004, the Commission may determine to modify, withdraw, or extend the de minimis exemption. Copies of the Commission's order can be obtained by contacting the SEC's Public Reference Room, 450 Fifth Street, NW, Washington, D.C. 20549-06009 or by accessing the Commission's Web site at www.sec.gov. (Rel. 34-49356) ENFORCEMENT PROCEEDINGS IN THE MATTER OF STEVEN AREVALO AND MARK HANNA On March 2, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934 Making Findings and Imposing Remedial Sanctions against Steven Arevalo, a former registered representative of HGI, Inc., and Mark Hanna, a former control person of HGI (collectively the Respondents), as a result of permanent injunctions entered against the Respondents in the civil action entitled Securities and Exchange Commission v. HGI Inc., et. al., 99 Civ 3866 (DLC) in the Southern District of New York and their convictions in the parallel criminal actions pending against them in the Eastern District of New York. The Commission's complaint in SEC v. HGI alleges that from June 1994 through July 1997 the Respondents defrauded investors out of millions of dollars by using fraudulent "boiler-room" sales practices to induce investors to purchase certain highly speculative securities in initial public offerings underwritten by HGI, which was then a registered broker-dealer. Specifically, the Commission's complaint charges both Arevalo and Hanna with violations of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder. It also charges Hanna with control person liability pursuant to Section 20(a) of the Exchange Act and with violations of Rules 101 and 102 of Regulation M thereunder. The Order finds the following. 1. On March 2, 2004, a Final Judgment and Order on Consent was entered against Arevalo, permanently enjoining him from future violations of Section 17(a) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, in SEC v. HGI. On May 17, 2002, Arevalo pled guilty to one count of conspiracy to commit securities fraud, in connection with his conduct while at HGI, in violation of Title 18 United States Code, Section 371, before the United States District Court for the Eastern District of New York, in United States v. Steven Arevalo, 01 CR 0076. On March 14, 2003, Arevalo was sentenced to 24 months in prison and ordered to pay restitution up to $800,000. 2. On Jan. 26, 2004, a Partial Judgment and Order on Consent was entered against Hanna, permanently enjoining him from future violations of Section 17(a) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 and Rules 101 and 102 of Regulation M thereunder, in SEC v. HGI. On Nov. 15, 2002, Hanna pled guilty, in connection with his conduct while at HGI, to one count of securities fraud in violation of Title 15 United States Code, Section 78j(b), one count of conspiracy to commit securities fraud in violation of Title 18 United States Code, Section 371 and one count of unlawful monetary transaction in violation of Title 18 United States Code, Section 1957, before the United States District Court for the Eastern District of New York, in United States v. Mark Hanna, 01 CR 0076. Based on the above, the Order bars Arevalo and Hanna from association with any broker or dealer. The Respondents consented to the issuance of the Order without admitting or denying any of the allegations in the civil injunctive action. (Rel. 34-49348; File No. 3-11417) FORMER EXECUTIVE OF SECURITY TRUST COMPANY ENJOINED IN MUTUAL FUND MARKET TIMING AND LATE TRADING FRAUD ACTION On Feb. 23, 2004, the United States District Court for the District of Arizona entered a judgment in a mutual fund market timing and late trading case against defendant Nicole McDermott, a former senior vice president at Phoenix, Arizona-based Security Trust Company, N.A. (STC). The Final Judgment enjoins McDermott from future violations of the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. McDermott consented to the entry of the judgment without admitting or denying the allegations in the Commission's complaint. The judgment provides that the court will retain jurisdiction to determine the appropriateness and amounts of disgorgement, prejudgment interest and a civil penalty and will for this purpose accept as and deem true the facts alleged in the Commission's complaint. In addition to McDermott, 34, who resides near Phoenix, the Commission's complaint, filed on Nov. 25, 2003, charged STC, an uninsured national banking association that, among other services, effected mutual fund trades for participants in retirement plans and processed data regarding those trades for the plans' third party administrators (TPAs); STC's former chief executive officer, Grant D. Seeger, 40, of Phoenix; and its former president, William A. Kenyon, 57, of Phoenix. The case is pending against these defendants. The Commission's complaint alleged the following: * Late Trading: From May 2000 to July 2003, STC facilitated hundreds of mutual fund trades in nearly 400 different mutual funds by several hedge funds controlled by Edward J. Stern, known as the Canary Capital funds. Approximately 99% of these trades were transmitted to STC after the 4:00 p.m. EST market close; 82% of the trades were sent to STC between 6:00 p.m. and 9:00 p.m. EST. The hedge funds' late trading was effected by STC through its electronic trading platform, which was designed primarily for processing trades by TPAs for retirement plans. STC repeatedly misrepresented to mutual funds that the hedge funds were a retirement plan account, even though the defendants knew that the hedge funds were not a TPA or a retirement plan account. * Market Timing: During its three-year relationship with the Canary hedge funds, STC and the other defendants employed various methods to attempt to conceal the hedge funds' market timing activities from mutual funds, including a "piggybacking" strategy in which STC set up a sub-account within the account of one of STC's TPA clients and attached the Canary hedge funds' mutual fund trades to the trades of this client without its knowledge. The complaint charged McDermott, STC, Seeger, and Kenyon with violating Section 17(a) of the Securities Act and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder. STC is also charged with violating Rule 22c-1, under Section 22(c) of the Investment Company Act of 1940, which prohibits the purchase or sale of mutual fund shares except at a price based on the current NAV of such shares that is next calculated after receipt of a buy or sell order. Seeger is also charged with violating Section 37 of the Investment Company Act, which prohibits stealing the assets of a registered investment company. The Commission is seeking an accounting, disgorgement, and penalties from all defendants and a judgment of permanent injunction against Seeger and Kenyon. [SEC v. Security Trust Company, N.A., Grant D. Seeger, William A. Kenyon, and Nicole McDermott, Civil Action No. CV 03-2323 PHX JWS, D. Ariz.] (LR-18606) FINAL JUDGMENTS AGAINST RICHARD SMYTH AND ARNOLD E. JOHNS, JR. The Commission announced today that on Feb. 19, 2004, the Honorable Clarence Cooper of the United States District Court for the Northern District of Georgia entered an order and final judgment against Richard P. Smyth of Fernandina Beach, Fla., directing payment of disgorgement in the amount of $397,362.38, along with prejudgment interest thereon in the amount of $303,399.38. On the same day, Judge Cooper entered an order and final judgment against Arnold E. Johns, Jr., of Atlanta, Ga., directing payment of disgorgement in the amount of $421,563 along with prejudgment interest thereon in the amount of $321,564.02. In an earlier order of Sept. 24, 2001, Smyth, who had served as Vista 2000, Inc.'s chief executive officer and chairman of its board, was permanently enjoined from further violations of Section 17(a) of the Securities Act of 1933; Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder; Section 13(a) of the Exchange Act and Rules 12b-20, 13a-1, 13a- 11, 13a-13 thereunder; Sections 13(b)(2)(A) and 13(b)(2)(B) of the Exchange Act; Section 13(b)(5) of the Exchange Act and Rules 13b2-1 and 13b2-2 thereunder; and Sections 16(a) and 16(c) of the Exchange Act and Rules 16a-2 and 16a-3 thereunder, and was barred from acting as an officer or director of a public company. In another order of Oct. 31, 2002, Johns, who had served as Vista's president and director, was permanently enjoined from further violating the antifraud provisions, books and records provisions, internal accounting control and reporting provisions of the Section 17(a) of the Securities Act and Sections 10(b), 13(a), 13(b)(2)(A), 13(b)(2)(B), and 13(b)(5) of the Exchange Act and Rules 10b-5, 12b-20, 13-11, 13a-13 and 13b2-1 thereunder. In ordering disgorgement against the defendants, the Court concluded that Smyth and Johns sold Vista stock while in possession of material, adverse and nonpublic information, which allowed them to avoid losses in the amounts of $397,362.38 and $421,563, respectively. The Commission's complaint and amended complaint alleged a wide-range of securities law violations, including that misstatements were made by Vista in filings with the Commission. Smyth and Johns were charged with violations, as control persons of Vista, arising from those filings. The allegations included, among other things, that Vista's revenues, income, earnings per share, and assets were overstated by Smyth from 1994 through 1996 and by Johns during 1995 and 1996, and that Smyth and Johns engaged in insider trading during 1995 and 1996. The orders direct that Smyth and Johns pay disgorgement and prejudgment interest in full within 30 days from the entry of the orders. [SEC v. Richard P. Smyth, Arnold E. Johns, Jr., Michael J. Becker and Alan T. Davis, Civil Action No. 1:01-CV- 1344, N.D. Ga., Feb. 19, 2004] (LR-18607) INVESTMENT COMPANY ACT RELEASES MONEY MARKET OBLIGATIONS TRUST, ET AL. A notice has been issued giving interested persons until March 26 to request a hearing on an application filed by Money Market Obligations Trust, et al., for an order under Section 17(b) of the Investment Company Act that would permit the transfer of certain assets of Tax-Free Instruments Trust, a series of Money Market Obligations Trust, to Edward Jones Tax Free Money Market Fund (Jones Fund) in exchange for shares of the Jones Fund. (Rel. IC-26373 - March 2) FFTW FUNDS, INC., ET AL. An order has been issued on an application filed by FFTW Funds, Inc., et al. under Section 12(d)(1)(J) of the Investment Company Act. The order permits funds of funds relying on section 12(d)(1)(G) of the Act to invest in securities and other financial instruments. (Rel. IC-26374 - March 2) HOLDING ACT COMPANY RELEASES WGL HOLDINGS, ET AL. A notice has been issued giving interested persons until March 29 to request a hearing on a proposal by WGL Holdings, Inc, WGL's gas public utility Washington Gas Light Company, and Washington Gas Light's nonutulity subsidiary companies (collectively, Applicants) to engage, through March 31, 2007, in a series of financings and activities including issuance of securities, hedging transactions, a money pool agreement, and creation of certain subsidiary companies. (Rel. 35-27805) SELF-REGULATORY ORGANIZATIONS IMMEDIATE EFFECTIVENESS OF PROPOSED RULE CHANGE A proposed rule change (SR-PCX-2004-09) filed by the Pacific Exchange to allow ratio orders to be executed at the Exchange has become effective under Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication of the proposal is expected in the Federal Register during the week of March 1. (Rel. 34-49342) A proposed rule change (SR-PCX-2004-06), and Amendment No. 1 thereto, filed by the Pacific Exchange to facilitate listing and trading of options and FLEX options of fixed-income exchange-traded fund shares has become immediately effective under Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication of the proposal is expected in the Federal Register during the week of March 1. (Rel. 34-49340) ACCELERATED APPROVAL OF PROPOSED RULE CHANGE The Commission approved a proposed rule change (SR-NASD-2003-149), and issued notice and granted accelerated approval to Amendment No. 1 to the proposed rule change submitted under Rule 19b-4 of the Securities Exchange Act of 1934 by NASD relating to SuperMontage and ITS Securities. Publication is expected in the Federal Register during the week of March 1. (Rel. 34-49349) The Commission has noticed and granted accelerated approval to a proposed rule change submitted by the New York Stock Exchange (SR-NYSE-2004-02) under Rule 19b-4 of the Securities Exchange Act of 1934, relating to follow-up amendments to its Constitution and Rules in connection with the its new governance and management architecture. Publication is expected in the Federal Register during the week of March 1. (Rel. 34-49345) APPROVAL OF PROPOSED RULE CHANGES The Commission approved a proposed rule change submitted under Rule 19b-4 of the Securities Exchange Act of 1934 by the Chicago Board Options Exchange (SR-CBOE-2003-58) relating to its Summary Fine Schedule for position limit violations. Publication is expected in the Federal Register during the week of March 1. (Rel. 34-49343) The Commission granted approval to a proposed rule change submitted by the American Stock Exchange to amend Sections 1203, 1204 and 1205 of the Amex Company Guide to increase the fees applicable to issuers requesting review of a determination to limit or prohibit the initial or continued listing of their securities (SR-Amex-2003-111). Publication of the order is expected in the Federal Register during the week of March 1. (Rel. 34-49344) The Commission approved a proposed rule change (SR-BSE-2003-31) submitted under Section 19(b)(1) of the Securities Exchange Act of 1934 by the Boston Stock Exchange to extend trading hours from 8:00 a.m. until 9:28 a.m., and from 4:16 p.m. until 6:30 p.m. to allow for the execution of matched orders only. Publication of the order is expected in the Federal Register during the week of March 1. (Rel. 34-49346) The Commission approved a proposed rule change (SR-NSCC-2003-03) filed by the National Securities Clearing Corporation pursuant to Section 19b(2) of the Act that allows NSCC is to amend its procedures regarding the execution time for CNS buy-ins. Publication of the approval order is expected in the Federal Register during the week of March 1. (Rel. 34-49352) PROPOSED RULE CHANGE The National Securities clearing Corporation filed a proposed rule change (SR- NSCC-2003-09) under Section 19(b)(1) of the Exchange Act that would allow NSCC to amend the procedure for determining intraday mark-to-the-market payments by members for unsettled positions. Publication of the proposal is expected in the Federal Register during the week of March 1. (Rel. 34-49353) SECURITIES ACT REGISTRATIONS The following registration statements have been filed with the SEC under the Securities Act of 1933. The reported information appears as follows: Form, Name, Address and Phone Number (if available) of the issuer of the security; Title and the number and/or face amount of the securities being offered; Name of the managing underwriter or depositor (if applicable); File number and date filed; Assigned Branch; and a designation if the statement is a New Issue. Registration statements may be obtained in person or by writing to the Commission's Public Reference Branch at 450 Fifth Street, N.W., Washington, D.C. 20549 or at the following e-mail box address: . In most cases, this information is also available on the Commission's website: . S-8 NANNACO INC, 2935 THOUSAND OAKS, SUITE 6, SAN ANTONIO, TX, 78247, 2105453570 - 50,000,000 ($800,000.00) Equity, (File 333-113205 - Mar. 2) (BR. 06) S-8 FOOTHILL INDEPENDENT BANCORP, 510 S GRAND AVE, GLENDORA, CA, 91741, 9095999351 - 490,500 ($10,009,012.20) Equity, (File 333-113206 - Mar. 2) (BR. 07) S-8 KAIRE HOLDINGS INC, 552 SESPE AVENUE "D", FILLMORE, CA, 93015, 8055240024 - 2,705,000 ($703,300.00) Equity, (File 333-113207 - Mar. 2) (BR. 01) F-1 CAMTEK LTD, INDUSTRIAL ZONE PO BOX 631, MIGDAL HAEMEK 011-972-6-644-0521, ISRAEL 10556, L3, 00000, 0 ($54,935,500.00) Equity, (File 333-113208 - Mar. 2) (BR. 36) S-3 PACIFICNET INC, 860 BLUE GENTIAN ROAD, SUITE 360, EAGAN, MN, 55121-1575, 6512093100 X101 - 771,605 ($4,387,344.20) Equity, (File 333-113209 - Mar. 2) (BR. 03) SB-2 MAGIC MEDIA NETWORKS INC, 530 NORTH FEDERAL HIGHWAY, FT LAUDERDALE, FL, 33301, 954-764-0579 - 22,529,890 ($7,781,059.30) Equity, (File 333-113210 - Mar. 2) (BR. 08) S-8 AMERICAN FIRE RETARDANT CORP, 9337 BOND AVENUE, 806-479-0449, EL CAJON, CA, 92012, 619-390-68 - 1,200,000,000 ($1,320,000.00) Equity, (File 333-113211 - Mar. 2) (BR. 02) S-8 ROCK TENN CO, 504 THRASHER ST, NORCROSS, GA, 30071, 7704482193 - 1,000,000 ($14,620,000.00) Equity, (File 333-113212 - Mar. 2) (BR. 04) S-3 CURON MEDICAL INC, 46117 LANDING PARKWAY, FREMONT, CA, 94538, 5106611800 - 0 ($15,454,994.00) Equity, (File 333-113213 - Mar. 2) (BR. 36) S-8 MUELLER INDUSTRIES INC, SUITE 150, 8285 TOURNAMENT DRIVE, MEMPHIS, TN, 38125, (901)753-3200 - 235,000 ($7,463,600.00) Equity, (File 333-113214 - Mar. 2) (BR. 06) S-2 NICHOLAS FINANCIAL INC, 2454 MCMILLEN BOOTH RD, BLDG C 501 B, CLEARWATER, FL, 33759, 8137260763 - 2,760,000 ($25,254,000.00) Equity, (File 333-113215 - Mar. 2) (BR. 07) S-8 GLOBAL GOLF HOLDINGS INC /DE/, 8893 BROOKE, ROAD, DELTA, A1, V4C 4G5, 6045832036 - 5,000,000 ($800,000.00) Equity, (File 333-113216 - Mar. 2) (BR. 08) S-3 FIDELITY NATIONAL FINANCIAL INC /DE/, 601 RIVERSIDE AVENUE, ,, JACKSONVILLE, FL, 32204, 904-854-8100 - 2,894,737 ($112,301,321.92) Equity, (File 333-113217 - Mar. 2) (BR. 01) S-3 CORPORATE EXECUTIVE BOARD CO, 2000 PENNSYLVANIA AVE NW, WASHINGTON, DC, 20006, 2026725600 - 0 ($164,934,000.00) Equity, (File 333-113218 - Mar. 2) (BR. 08) F-6 EIFFEL TECHNOLOGIES LTD, 10,000,000 ($500,000.00) ADRs/ADSs, (File 333-113219 - Mar. 2) (BR. ) S-8 DYNAVAX TECHNOLOGIES CORP, 717 POTTER STREET, SUITE 100, BERKELEY, CA, 94710, 5108485100 - 5,282,527 ($36,486,968.04) Equity, (File 333-113220 - Mar. 2) (BR. 01) S-1 MOLINA HEALTHCARE INC, ONE GOLDEN SHORE DRIVE, LONG BEACH, CA, 90802, 5624353666 - 0 ($150,000,000.00) Equity, (File 333-113221 - Mar. 2) (BR. 01) S-3 SCHERING PLOUGH CORP, ONE GIRALDA FARMS, MADISON, NJ, 07940-1000, 9738227000 - 0 ($2,000,000,000.00) Other, (File 333-113222 - Mar. 2) (BR. 01) SB-2 SEW CAL LOGO INC, 207 W 138TH ST, LOS ANGELES, CA, 90061, 3103523300 - 520,000 ($130,000.00) Other, (File 333-113223 - Mar. 2) (BR. ) S-8 PACIFIC FINANCIAL CORP, 300 E MARKET STREET, ABERDEEN, WA, 98520-5244, 3605338870 - 64,560 ($752,124.00) Equity, (File 333-113224 - Mar. 2) (BR. 07) S-4 FISHER SCIENTIFIC INTERNATIONAL INC, LIBERTY LANE, HAMPTON, NH, 03842, 6039265911 - 0 ($150,000,000.00) Non-Convertible Debt, (File 333-113225 - Mar. 2) (BR. 02) S-1 ARCHIPELAGO HOLDINGS L L C, 100 SOUTH WACKER DRIVE, SUITE 2012, CHICAGO, IL, 60606, 0 ($150,000,000.00) Equity, (File 333-113226 - Mar. 2) (BR. ) S-3 HERSHA HOSPITALITY TRUST, 148 SHERATON DRIVE, BOX A, NEW CUMBERLAND, PA, 17070, 7177702405 - 2,816,460 ($31,206,376.80) Equity, (File 333-113227 - Mar. 2) (BR. 08) S-8 JASMINES GARDEN, 4705 WEST ADDISYN COURT, VISALIA, CA, 93291, 559-732-8177 - 0 ($24,300,000.00) Equity, (File 333-113228 - Mar. 2) (BR. 05) S-8 INTERSTATE HOTELS & RESORTS INC, 1010 WISCONSIN AVE NW, WASHINGTON, DC, 20007, 2029654455 - 0 ($23,500,000.00) Other, (File 333-113229 - Mar. 2) (BR. 08) RECENT 8K FILINGS Form 8-K is used by companies to file current reports on the following events: Item 1. Changes in Control of Registrant. Item 2. Acquisition or Disposition of Assets. Item 3. Bankruptcy or Receivership. Item 4. Changes in Registrant's Certifying Accountant. Item 5. Other Materially Important Events. Item 6. Resignations of Registrant's Directors. Item 7. Financial Statements and Exhibits. Item 8. Change in Fiscal Year. Item 9. Regulation FD Disclosure. Item 10. Amendments to the Registrant's Code of Ethics, or Waiver of a Provision of the Code of Ethics. Item 11. Temporary Suspension of Trading Under Registrant's Employee Benefit Plans. Item 12. Results of Operations and Financial Condition. The following companies have filed 8-K reports for the date indicated and/or amendments to 8-K reports previously filed, responding to the item(s) of the form specified. 8-K reports may be obtained in person or by writing to the Commission's Public Reference Branch at 450 Fifth Street, N.W., Washington, D.C. 20549 or at the following e-mail box address: . In most cases, this information is also available on the Commission's website: . STATE 8K ITEM NO. NAME OF ISSUER CODE 1 2 3 4 5 6 7 8 9 10 11 12 13 DATE COMMENT ABRAXAS PETROLEUM CORP NV X 03/02/04 ACME UNITED CORP CT X 03/02/04 ADE CORP MA X 03/02/04 ADOLOR CORP X X 01/02/04 AFFILIATED MANAGERS GROUP INC DE X X 02/25/04 AGWAY INC DE X X 02/26/04 ALLIANCE RESOURCE PARTNERS LP DE X X 03/01/04 AMEND ALLIED DEFENSE GROUP INC DE X X 03/02/04 ALPHARMA INC DE X X 03/02/04 AMERICAN EQUITY INVESTMENT LIFE HOLDI IA X 03/02/04 AMETEK INC/ DE X X 03/01/04 AMISTAR CORP CA X X 02/27/04 APEX RESOURCES GROUP INC UT X X 02/05/04 AMEND APPLIED MICRO CIRCUITS CORP DE X X 03/01/04 ARCHON CORP NV X X X 03/01/04 ARGENT SECURITIES INC X X 02/27/04 ARGENT SECURITIES INC X X 02/24/04 ARGENT SECURITIES INC X X 03/01/04 ARISTOTLE CORP DE X 12/31/03 ASSET BACKED FUNDING CORP DE X X 03/01/04 ASSET BACKED FUNDING CORP DE X X 03/01/04 ASSET BACKED PASS THRU CERTS SERIES 2 DE X X 02/15/04 ASSET-BACKED CERTIFICATES SERIES 2004 DE X 02/25/04 ASTORIA FINANCIAL CORP DE X X 03/02/04 ASV INC /MN/ MN X X 03/02/04 AUTEC ASSOCIATES INC FL X X X X 03/01/04 AUTOIMMUNE INC DE X 02/26/04 AVALON HOLDINGS CORP OH X 03/01/04 AVNET INC NY X X 03/02/04 BADGER PAPER MILLS INC WI X X 02/26/04 BALLISTIC RECOVERY SYSTEMS INC MN X X 03/01/04 BANCFIRST CORP /OK/ OK X X 02/26/04 BANK OF AMERICA CORP /DE/ DE X X 03/02/04 BANK OF AMERICA MORT SEC INC MORT PAS DE X X 12/20/03 BANKENGINE TECHNOLOGIES INC FL X X 03/02/04 BEAR STEARNS COMMERCIAL MORTGAGE SECU DE X X 02/20/04 BELL MICROPRODUCTS INC CA X X 03/01/04 BEST COMPUTERS SERVICES INC NV X 02/10/04 AMEND BINDVIEW DEVELOPMENT CORP TX X 03/02/04 BJS WHOLESALE CLUB INC DE X 03/02/04 BOSTONFED BANCORP INC DE X X 03/01/04 BRE PROPERTIES INC /MD/ MD X X 03/02/04 BRUKER BIOSCIENCES CORP DE X 03/02/04 BULLION RIVER GOLD CORP NV X X X 03/01/04 BUSH INDUSTRIES INC DE X X 03/01/04 C-CHIP TECHNOLOGIES CORP NV X X 03/02/04 CALTON INC NJ X X 03/01/04 CANCERVAX CORP DE X X 03/02/04 CANYON RESOURCES CORP DE X X 03/02/04 CATERPILLAR INC DE X 03/02/04 CATERPILLAR INC DE X 03/02/04 CHARTER COMMUNICATIONS INC /MO/ DE X X 09/03/03 CHENIERE ENERGY INC DE X X 02/26/04 CHEVY CHASE AUTO RECEIVABLES TRUST 20 MD X 01/31/04 CHEVY CHASE AUTO RECEIVABLES TRUST 20 MD X 01/31/04 CHEVY CHASE AUTO RECEIVABLES TRUST 20 X 01/31/04 CHEVY CHASE AUTO RECEIVABLES TRUST 20 MD X 01/31/04 CHEVY CHASE AUTO RECEIVABLES TRUST 20 MD X 01/31/04 CHEVY CHASE HOME LOAN TRUST 1996-1 MD X 01/31/04 CHEVY CHASE HOME LOAN TRUST 1997-1 MD X 01/31/04 CHINA NETTV HOLDINGS INC NV X X 02/27/04 CHINDEX INTERNATIONAL INC DE X 03/01/04 CHURCH & DWIGHT CO INC /DE/ DE X 03/02/04 CHYRON CORP NY X X 02/27/04 CIGNA CORP DE X 03/02/04 CIRCLE GROUP HOLDINGS INC IL X 03/02/04 CLEVELAND CLIFFS INC OH X X 03/01/04 COGENTRIX ENERGY INC NC X 02/29/04 COMDISCO HOLDING CO INC DE X 03/02/04 COMPUWARE CORPORATION MI X 03/01/04 CONTINENTAL AIRLINES INC /DE/ DE X X X 03/01/04 CORINTHIAN COLLEGES INC X 03/02/04 CREDIT SUISSE FIRST BOSTON MORTGAGE S DE X 03/02/04 CRESTED CORP CO X X 01/30/04 CROWN CASTLE INTERNATIONAL CORP DE X X 03/01/04 CSFB MORTGAGE SEC CORP HOME EQ PASS T DE X X 06/25/03 AMEND CSFB MORTGAGE-BACKED PASS THROUGH CER DE X 03/02/04 DATATRAK INTERNATIONAL INC OH X 02/25/04 DDI CORP CA X X 02/26/04 DEUTSCHE COMMERCIAL MORTGAGE PASS THR DE X X 02/27/04 DEUTSCHE MORTGAGE SEC INC MORT LOAN T X X 01/06/04 DIAMOND OFFSHORE DRILLING INC DE X X 03/02/04 DIVIDEND CAPITAL TRUST INC MD X X 12/15/03 AMEND DOMINOS INC DE X X 03/02/04 DONNELLEY R R & SONS CO DE X X 03/02/04 DRESSER INC DE X 03/01/04 DURASWITCH INDUSTRIES INC NV X 03/02/04 DUSA PHARMACEUTICALS INC NJ X X 02/27/04 DVI INC DE X X 02/26/04 DVI RECEIVABLES CORP VIII DE X X 02/26/04 DVI RECEIVABLES CORP VIII DVI RECEIVA DE X X 02/24/04 DVI RECEIVABLES CORP VIII DVI RECEIVA DE X X 02/24/04 DVI RECEIVABLES CORP VIII DVI RECEIVA DE X X 02/24/04 DVI RECEIVABLES CORP VIII DVI RECEIVA DE X X 02/24/04 DVI RECEIVABLES CORP VIII DVI RECEIVA DE X X 02/24/04 DVI RECEIVABLES CORP VIII DVI RECEIVA DE X X 02/24/04 DVI RECEIVABLES VIII LLC DE X X 02/24/04 DVI RECEIVABLES XIX LLC DE X X 02/26/04 DVI RECEIVABLES XVIII LLC DE X X 02/26/04 EAST WEST BANCORP INC X X 03/02/04 ECOM ECOM COM INC FL X X 03/02/04 EDISON INTERNATIONAL CA X X 02/26/04 ELECTRONIC CORPORATE FILING SERVICES NV X 02/10/04 AMEND ENCORE ACQUISITION CO DE X X 03/02/04 ENCORE CAPITAL GROUP INC DE X 03/02/04 ENDURANCE SPECIALTY HOLDINGS LTD X X 03/02/04 ENERGY WEST INC MT X X 03/02/04 ENESCO GROUP INC MA X X 03/01/04 ENRON CORP/OR/ OR X X 02/26/04 EPOCH BIOSCIENCES INC DE X X 02/26/04 ESSEX PROPERTY TRUST INC MD X 01/27/04 EXIDE TECHNOLOGIES DE X 02/27/04 EXPRESSJET HOLDINGS INC DE X X 03/01/04 EYETECH PHARMACEUTICALS INC DE X 02/28/04 FAIRCHILD SEMICONDUCTOR INTERNATIONAL DE X 03/02/04 FAMILY HEALTHCARE SOLUTIONS INC NV X 02/10/04 AMEND FINISAR CORP DE X X 03/02/04 FIRST AUTO INC NV X 02/10/04 AMEND FIRST DATA CORP DE X X 02/26/04 FIRST HORIZON PHARMACEUTICAL CORP DE X X 03/02/04 FIRST KEYSTONE CORP PA X 03/02/04 FIRST UNITED CORP/MD/ MD X X 03/01/04 FOAMEX INTERNATIONAL INC DE X X 03/02/04 FOOT LOCKER INC NY X X 03/02/04 FORD MOTOR CO DE X X 03/02/04 FORD MOTOR CREDIT CO DE X X 03/02/04 FORMULA FOOTWEAR INC UT X X 03/02/04 FRANKLIN BANK CORP X X 02/29/04 FREESTAR TECHNOLOGY CORP NV X X 10/15/03 AMEND FRIENDLY ICE CREAM CORP MA X 03/02/04 GEMSTAR TV GUIDE INTERNATIONAL INC DE X X 03/02/04 GEMSTAR TV GUIDE INTERNATIONAL INC DE X 03/02/04 GENE LOGIC INC DE X 02/20/04 GENERAL MOTORS CORP DE X 03/02/04 GENITOPE CORP DE X 03/01/04 GLENAYRE TECHNOLOGIES INC DE X X 03/01/04 GOLDEN SAND ECO-PROTECTION INC FL X X 02/15/04 AMEND GRANITE BROADCASTING CORP DE X X 03/02/04 GREIF INC DE X 03/01/04 GREY GLOBAL GROUP INC DE X X 03/02/04 GS MORTGAGE SECURITIES CORP DE X 03/02/04 GYK VENTURES INC NV X 02/10/04 AMEND H NET NET CO X X 02/29/04 HANGER ORTHOPEDIC GROUP INC DE X X 02/25/04 HANOVER COMPRESSOR CO / DE X 03/01/04 HARBOR GLOBAL CO LTD X X 03/02/04 HAWAIIAN HOLDINGS INC DE X X 02/20/04 HENRY JACK & ASSOCIATES INC DE X X 03/01/04 HFB FINANCIAL CORP TN X X 02/27/04 HUB GROUP INC DE X 02/18/04 HUDSON UNITED BANCORP NJ X X 03/02/04 HUGHES ELECTRONICS CORP DE X X 02/24/04 IBERIABANK CORP LA X 02/29/04 IMAGE INNOVATIONS HOLDINGS INC NV X 06/30/03 AMEND IMPAC MEDICAL SYSTEMS INC X X 03/01/04 INDEPENDENCE COMMUNITY BANK CORP DE X X 03/01/04 INLAND WESTERN RETAIL REAL ESTATE TRU MD X 12/19/03 AMEND INTEGRATED ELECTRICAL SERVICES INC DE X X 02/27/04 INTEGRITY MEDIA INC DE X X 03/02/04 INTERNAP NETWORK SERVICES CORP DE X 03/02/04 ITRONICS INC TX X 02/23/04 IWT TESORO CORP NV X X 12/01/03 AMEND JP MORGAN CHASE COM MORT SEC CORP PS DE X 10/15/03 AMEND KB HOME DE X X X 03/02/04 KEITHLEY INSTRUMENTS INC OH X 02/24/04 KNW NETWORKS INC NV X 02/10/04 AMEND LA JOLLA PHARMACEUTICAL CO DE X 03/02/04 LABONE INC/ MO X 03/02/04 LABONE INC/ MO X 03/02/04 AMEND LAIDLAW GLOBAL CORP DE X 02/26/04 LECG CORP DE X X 03/01/04 LEHMAN ABS CORP GEN ELEC CAP SERVICES DE X X 02/21/04 LEHMAN ABS CORP GOLD SACHS CAP I SEC DE X X 02/25/04 LESCO INC/OH OH X 02/24/04 LEVI STRAUSS & CO DE X X X 03/01/04 LIONS GATE ENTERTAINMENT CORP /CN/ X 12/15/03 AMEND LOCKHEED MARTIN CORP MD X X 03/01/04 LOTTERY & WAGERING SOLUTIONS INC DE X X 02/26/04 MAGELLAN HEALTH SERVICES INC DE X X 02/27/04 MAGNA ENTERTAINMENT CORP DE X X 02/27/04 MAINE & MARITIMES CORP X 03/02/04 MAINE & MARITIMES CORP X 03/02/04 MAINSOURCE FINANCIAL GROUP IN X X 03/02/03 MAJESTIC STAR CASINO LLC IN X X 03/02/04 MANUFACTURED HOME COMMUNITIES INC MD X X 03/02/04 MAVERICK TUBE CORPORATION DE X 03/02/04 MAXWELL SHOE CO INC DE X X 03/02/04 MBNA AMERICA BANK NATIONAL ASSOCIATIO DE X X 03/02/04 MCMORAN EXPLORATION CO /DE/ DE X 03/01/04 MEDTOX SCIENTIFIC INC DE X 03/02/04 MEREDITH CORP IA X 03/02/04 MEREDITH CORP IA X X 03/02/04 AMEND MERRILL LYNCH DEPOSITOR INC PPLUS TRU DE X X 02/17/04 MERRILL LYNCH DEPOSITOR INC PPLUS TRU DE X X 02/17/04 MERRILL LYNCH DEPOSITOR INC PREFERRED DE X X 02/17/04 MERRILL LYNCH DEPOSITOR INC PREFERRED DE X X 02/17/04 MERRILL LYNCH DEPOSITOR INC PREFERRED DE X X 02/26/04 AMEND MERRILL LYNCH DEPOSITOR INC PREFERRED DE X X 02/17/04 MERRILL LYNCH DEPOSITOR INC PREFERRED DE X X 02/26/04 AMEND MERRILL LYNCH DEPOSITOR INC PUBLIC ST DE X X 02/26/04 AMEND MIDWAY GAMES INC DE X 02/25/04 MILACRON INC DE X X 03/02/04 MOBILE AREA NETWORKS INC X 03/02/04 AMEND MORTGAGE PASS THROUGH CERTIFICATES SE DE X X 12/24/03 MQ ASSOCIATES INC X X 03/02/04 MUNICIPAL MORTGAGE & EQUITY LLC DE X X X 03/01/04 NACCO INDUSTRIES INC DE X X 03/02/04 NATIONAL COAL CORP FL X X 03/01/04 NATIONAL SECURITY GROUP INC DE X 02/27/04 NATIONAL WATERWORKS INC X X X 03/02/04 NATIONSLINK FUNDING CORP 1999-LTL-1 C DE X 02/23/04 NATURAL GOLF CORP IL X X 03/01/04 NAVISTAR INTERNATIONAL CORP DE X 03/02/04 NEUTRON ENTERPRISES INC X 02/23/04 NEWTEK BUSINESS SERVICES INC NY X X 03/02/04 NMHG HOLDING CO DE X X 03/02/04 NORTH FORK BANCORPORATION INC DE X 03/02/04 NOVASTAR MORTGAGE FUNDING CORP DE X X 03/01/04 NRG ENERGY INC DE X X 03/01/04 NS8 CORP DE X 12/18/03 AMEND NUTECH DIGITAL INC CA X X 03/02/04 OGLEBAY NORTON CO /OHIO/ 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ENTERPRISES INC DE X 03/01/04 GYMBOREE CORP DE X X 03/02/04