Pursuant to the attached memo, sent on July 15, 2005, Penson Financial Services will begin reinforcing the $7.50 fee for non-transferable or worthless securities that are older than 6 years beginning October 2006.  Bonds will not be included.  This fee will be passed along to the account holder that DTC charges Penson Financial Services on a monthly basis.  If funds are not available in the client’s account, the correspondent will be charged.  Attached is a list of accounts and securities; please begin reviewing them as soon as possible.  A statement message will appear on the August and September statements notifying clients of the charge or the option to purge the security.  Additionally, a letter will mailed to the account holder for any physical stock held in the vault as restricted. This letter will be attached to the stock and mailed to the AOR.  If a client wishes to opt out please send notification to purge@penson.com.  Please contact your relationship manager with any questions.