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To: jaison who wrote (7521)	7/8/1999 3:38:00 PM
From: Carole Olkowski	Respond to of 12617

Heres a formal explanation of trade problems today from Nasdaq. Nasdaq experienced two problems with the OTC Bulletin Board (OTCBB) system today (Thursday, July 8, 1999). The problems were as follows: * Daily List Changes - Due a problem with the overnight processing, OTCBB was unable to process the symbol changes that were scheduled to take effect today. Nasdaq has instructed Market Makers to enter trade report transactions with the new issue symbol. For today only, however, the quotation information will continue to go out for the symbol with the old issue symbol. For a list of affected securities, please refer to the July 1, 1999 OTCBB Daily List (available on-line at otcbb.com. The majority of the symbol changes scheduled for today were related to the OTCBB Eligibility Rule implementation. As stated in Vendor Technical Notice #1999-20, Nasdaq was supposed to add a fifth character suffix of "E" to companies that had an issue symbol beginning with first two characters of AE to AO and that were not compliant with OTCBB Eligibility Rule requirements. * Trade Problem - In addition, the Nasdaq Trade Dissemination Service (NTDS) experienced a problem this morning until 1:30 p.m., eastern time. During this time interval, little or no trade report information was disseminated for OTCBB and other OTC equity issues via the NTDS line to vendors. Vendors are advised to use the NTDS Closing Report, which is disseminated at 5:24 p.m., to get the accurate high, low, last, and volume for the OTCBB and other OTC equities for the day. Nasdaq understands that you may be getting a number of customer inquiries about the OTCBB problems. Nasdaq will be posting a full explanation of the problem to the OTC Bulletin Board Web site at otcbb.com. Vendors are encouraged to point their subscribers to this Web site for more information. We apologize for the inconvenience. All OTCBB problems should be resolved in time for tomorrow's trading.