SEC NEWS DIGEST Issue 2004-106 June 2, 2004 COMMISSION ANNOUNCEMENTS COMMISSION MEETINGS Following is a schedule of Commission meetings, which will be conducted under provisions of the Government in the Sunshine Act. Meetings will be scheduled according to the requirements of agenda items under consideration. Open meetings will be held in the William O. Douglas Room, Room 1C30, at the Commission's headquarters building, 450 Fifth Street, N.W., Washington, D.C. Visitors are welcome at all open meetings, insofar as space is available. Persons wishing to photograph or videotape Commission meetings must obtain permission in advance from the Secretary of the Commission. Persons wishing to tape record a Commission meeting should notify the Secretary's office 48 hours in advance of the meeting. Any member of the public who requires auxiliary aids such as a sign language interpreter or material on tape to attend a public meeting should contact Rochelle Franks, Office of Administrative and Personnel Management, to make arrangements. Ms. Franks can be reached at TTY number (202) 942-9558. If you are calling from a non-TTY number, please call the Relay Service at 1-800-877-8339. CLOSED MEETING - TUESDAY, JUNE 8, 2004 - 2:00 P.M. The subject matter for the closed meeting scheduled for Tuesday, June 8, will be: Formal orders of investigation; Institution and settlement of injunctive actions; Institution and settlement of administrative proceedings of an enforcement nature; and a Litigation matter. OPEN MEETING - WEDNESDAY, JUNE 9, 2004 - 10:00 A.M. The subject matter of the open meeting scheduled for Wednesday, June 9, will be: 1. The Commission will consider whether to adopt amendments to short sale regulation under new Regulation SHO, and revisions to Rule 105 of Regulation M (short selling in connection with a public offering), both under the Securities Exchange Act of 1934. For further information please contact Kevin Campion, Lillian Hagen, or Alexandra Albright at (202) 942-0772. 2. The Commission will consider whether to adopt amendments to Schedule 14A under the Securities Exchange Act of 1934, and to Forms N-1A, N-2, and N-3 under the Securities Act of 1933 and the Investment Company Act of 1940. The amendments would require a registered management investment company to provide disclosure in its reports to shareholders regarding the basis for the board of directors' approval of an investment advisory contract. They would also enhance existing disclosure requirements in proxy statements regarding the basis for the board's recommendation that shareholders approve an advisory contract. For further information, please contact Deborah D. Skeens at (202) 942-0562. At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been added, deleted or postponed, please contact: The Office of the Secretary at (202) 942-7070. SEC VOTES TO PROPOSE PROVISIONS IMPLEMENTING GRAMM-LEACH-BLILEY BANK BROKER RULES The Commission today voted to publish for comment proposed Regulation B. This new regulation is designed to implement provisions of the Gramm- Leach-Bliley Act of 1999 that delineate the securities activities banks may engage in without registering as brokers under the Securities Exchange Act of 1934. Regulation B Proposals The Gramm-Leach-Bliley Act (GLBA) replaced banks' complete exception from the definition of "broker" with eleven "functional exceptions." The Commission today voted to propose new rules to implement the GLBA definition by defining some of the statutory terms used in the eleven exceptions. It also proposed a number of new exemptions for some particular bank activities, under conditions that are consistent with investor protections. All of these provisions build off of rules the Commission adopted in 2001 (Interim Rules). The proposals would extend many of these provisions to savings associations and savings banks, and also exempt credit unions that engage in certain limited securities activities as long as they are conducted under the terms applicable to certain of the bank exceptions from the definitions of broker and dealer. Networking Exception The statutory third-party brokerage (networking) exception allows banks to partner with broker-dealers in offering their customers a wide range of financial services, including securities brokerage. Under this exception, a broker-dealer offers brokerage services to bank customers and shares the compensation with the bank. The exception also allows unregistered bank employees to receive incentive compensation in the form of a "nominal one-time cash fee of a fixed dollar amount" for referring bank customers to the broker-dealer. The Commission voted to propose amendments to the Interim Rules to * clarify the scope of activities in which unregistered bank employees may engage * define nominal compensation as: o the employee's base hourly rate of pay; o a flat $25 dollar amount; or o an inflation adjusted amount based on fifteen 1999 dollars Trustee and Fiduciary Account Exception The trust and fiduciary activities exception permits a bank, under certain conditions, to receive "sales compensation" (e.g., commission- type compensation or sales charges and service fees paid out of mutual fund assets pursuant to a distribution plan adopted under rule 12b-1) for effecting transactions for its customers in a trustee or fiduciary capacity without registering as a broker. Under this exception, a bank must effect such transactions in its trust department, or other department that is regularly examined by bank examiners for compliance with fiduciary principles and standards. The bank also must be "chiefly compensated" for any securities transactions, consistent with fiduciary principles and standards, on the basis of "relationship compensation" (i.e., an administration or annual fee, a percentage of assets under management, a flat or capped per order processing fee that does not exceed the cost the bank incurs in executing such securities transactions, or any combination of these fees). The term "chiefly compensated" is not defined in the statute. The Interim Rules both defined the term to mean that relationship compensation exceeds sales compensation as determined on an account-by- account basis and provided a limited exemption to permit a bank to assess its compliance on an aggregate, rather than an account-by- account, basis using a proportion of 9 to 1 as the ratio for relationship to sales compensation as long as other procedural requirements were met. They also provided a limited exemption for banks acting as indenture trustees. The Commission decided to propose several amendments to the Interim Rules. These amendments are intended to simplify banks' compliance with this statutory requirement through both definitions and targeted exceptions. These amendments would * expand the definition of "relationship compensation," which is a component of the comparison, to include fees generated by all types of assets * provide additional exemptions, including o a small bank custody exemption that can be used by qualifying small banks in lieu of the "chiefly compensated" comparison and the other requirements of the trust and fiduciary activities exemption (Additional details regarding this exemption are provided below under the custody discussion.) o a new exemption from the "chiefly compensated" requirement for banks acting as trustees and in other limited capacities (as well as for qualified investors) to be able to make investments in money market funds that pay 12b- 1 fees o a revision of the 9 to 1 exemption that substantially reduces the procedural requirements and allows the exemption to be utilized on a line-of- business basis, on a bank-wide basis, and for accounts that predate the development of an account-by-account compliance system o a personal trust account exemption for personal trust accounts that were established prior to this proposal o a conditional safe harbor that allows banks to measure their compensation in one year to determine their status for the next year and provides appropriate cure periods o an account-by-account exemption that would give a bank some additional flexibility when evaluating individual accounts for which its compensation would not meet the "chiefly compensated" comparison. This exemption would also provide formulas to allocate "sales compensation" (which goes into the comparison) from sources such as mutual funds that are paid on an aggregate basis. o an exemption, retained from the Interim Rules, for a bank acting as an indenture trustee Bank Custody Exception The safekeeping and custody exception gives a bank, acting as a custodian, legal certainty that it may engage in specified securities transactions while holding the funds and securities related to those transactions. This exception lists transactions that a bank may undertake for investors, and permits a bank to provide "related administrative services" to retirement and benefit plans. The Interim Rules provided banks with two exemptions - one for small banks and one for all banks. Both exemptions contained solicitation, compensation, and staffing limits that were designed to allow banks to engage in a small number of accommodation trades, but not to run a large-scale brokerage business without the investor protections of the federal securities laws. The Commission voted to propose to * retain the small bank custody exemption, but make it available to more banks, and eliminate many of its restrictions by: o establishing a $100,000 revenue limit for securities transactions effected under the exemption, including transactions in trust accounts if other trust exemptions are not utilized o defining a "small bank" as a bank with $500 million in assets that is not associated with a broker-dealer o retaining the condition that a small bank may not qualify for this exemption if it is a part of large bank holding company with more than $1 billion in consolidated assets o extending the exemption to include transactions in all securities o permitting small banks to enter into networking arrangements with unaffiliated broker-dealers and use dual employees (i.e., bank employees that are also registered representatives of an unaffiliated broker-dealer) to effect securities transactions * retain the general bank custody exemption with modifications that would o permit a bank to accept securities orders so long as the fees it receives for clearing and settling securities transactions do not vary, directly or indirectly, based on whether the bank accepts an order to purchase or sell a security o limit the availability of this exemption to "qualified investors" as defined in Exchange Act Section 3(a)(54) on a going forward basis o grandfather all existing custody accounts to avoid disrupting existing custody relationships o permit a bank to continue to receive 12b-1 or shareholder servicing fees for these custody accounts o continue to permit a bank to pass any executing broker-dealer's charges through to the customer Other New Bank Exemptions The Commission proposed three new targeted exemptions in recognition of banks' existing business practices. These exemptions would * permit a bank to effect transactions for qualified investors, trustee and fiduciary accounts, and certain agency accounts, including escrow agency accounts, in money market funds that pay 12b-1 fees * permit bank trustees and non-fiduciary administrators to receive asset- based sales charges and service fees from mutual funds to offset plan administration fees * permit a bank, under limited conditions, to sell securities that are exempt from registration under Regulation S to non-U.S. persons who are located outside of the U.S. Other Financial Institution Exemptions The Commission proposed extending by exemption appropriate exceptions and exemptions to thrifts and credit unions based on their current securities activities. Comment will be solicited on whether additional exemptions are needed. Comments on these proposed rules should be received by the Commission on or before Aug. 1, 2004. (Press Rel. 2004-73) ENFORCEMENT PROCEEDINGS COMMISSION SUES FORMER OFFICERS OF MEMPHIS, TENNESSEE COMPANY FOR ACCOUNTING FRAUD On May 27, 2004, the Commission filed a complaint in the U.S. District Court for the Western District of Tennessee against Lance Turner Fair and Paul Melvin Henson, Jr. Fair is the former Chief Financial Officer and Henson the former Chief Accounting Officer of Master Graphics, Inc., a Tennessee-based printing company that was publicly traded on the NASDAQ National Market System, but is now defunct. The complaint alleges that, in the spring of 1999, Fair, Henson and Master Graphics' Chief Executive Officer implemented a scheme to fraudulently overstate the company's net income to meet analysts' expectations. Pursuant to the plan, the company fraudulently reclassified rent and salary expenses that Master Graphics had already paid to its division presidents in the first quarter to assets on the company's balance sheet, thus reducing expenses and increasing income. According to the complaint, this scheme fraudulently overstated Master Graphics' net income by 628%, 46% and 10% in the first, second and third quarter financial statements, respectively, that the company filed with the Commission in 1999. The complaint alleges that Henson and Fair violated the antifraud provisions of the federal securities laws (Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 (Exchange Act) and Exchange Act Rule 10b-5), as well as the books and records and internal controls provisions of the Exchange Act (Section 13(b)(5) and Exchange Act Rule 13b2-1). Without admitting or denying the allegations of the complaint, Henson and Fair have consented to a final judgment that imposes a $25,000 civil penalty against each defendant. Fair and Henson previously consented to cease and desist orders finding that, based on the same conduct discussed herein, they violated not only the provisions cited above but, also caused Master Graphics to violate the reporting and books and records provisions of the Exchange Act (Sections 13(a) and 13(b)(2)(A) of the Exchange Act and Exchange Act Rules 12b-20 and 13a-13). See In the Matter of Paul Melvin Henson, Jr., Securities Act Rel. No. 8425 (May 19, 2004), In the Matter of Lance Turner Fair, Securities Act Rel. No. 8424 (May 19, 2004). [SEC v. Paul Melvin Henson, Jr. and Lance Turner Fair, Case No. 04-2394 DP (W.D. Tenn.)] (LR-18733; AAE Rel. 2028) INVESTMENT COMPANY ACT RELEASES DEREGISTRATION UNDER THE INVESTMENT COMPANY ACT For the month of May 2004, a notice has been issued giving interested persons until June 22, 2004, to request a hearing on any of the following applications for an order under Section 8(f) of the Investment Company Act declaring that the applicant has ceased to be an investment company: Millennium Income Trust [File No. 811-8816] Southeast Interactive Technology Fund I, LLC [File No. 811-9052] The Dresher Family of Funds [File No. 811-8177] The InvestBio Opportunity Fund [File No. 811-10605] CDC Nvest Tax Exempt Money Market Trust [File No. 811-3658] Nuveen Tax-Deferred Investment Trust [File No. 811-8695] Oak Ridge Funds, Inc. [File No. 811-8088] J.P. Morgan Hedge Fund Series/alpha, L.L.C. [File No. 811-9881] J.P. Morgan Hedge Fund Series/core, L.L.C. [File No. 811-9883] The FBR Rushmore Fund, Inc. [File No. 811-4369] Investors Life Separate Account B [File No. 811-8478] Investors Life Separate Account D [File No. 811-7864] Exeter Insurance Fund, Inc. [File No. 811-9843] Glenbrook Life Variable Account B [File No. 811-8235] (Rel. IC-26459 - May 28) BOSTON CAPITAL TAX CREDIT FUND V L.P. AND BOSTON CAPITAL ASSOCIATES V L.L.C. An order has been issued on an application filed by Boston Capital Tax Credit Fund V L.P. (Partnership) and Boston Capital Associates V L.L.C. under Sections 6(c) and 6(e) of the Investment Company Act exempting the Partnership from all provisions of the Act, except Sections 37 through 53 of the Act and the rules and regulations under those sections other than Rule 38a-1. The order permits the Partnership to invest in limited partnerships that engage in the ownership and operation of apartment complexes for low and moderate income persons. (Rel. IC-26460 - May 28) WACHOVIA BANK NATIONAL ASSOCIATION, ET AL. An order has been issued on an application filed by Wachovia Bank National Association, et al. exempting applicants from Sections 12(d)(1), 17(a) and 17(e) of the Investment Company Act, and permitting certain joint transactions under Section 17(d) of the Act and Rule 17d-1 under the Act. The order permits certain registered management investment companies, and series thereof (Registered Lending Funds), (a) to invest cash collateral that is received in connection with a securities lending program in shares of certain money market funds beyond the limits set forth in Sections 12(d)(1)(A) and (B) of the Act, (b) to pay a lending agent, which may become an affiliated person of a Registered Lending Fund solely as a result of the Registered Lending Fund investing cash collateral in the money market funds, a fee based on a share of the revenue derived from securities lending activities, (c) to lend portfolio securities to broker-dealers, which may become affiliated persons of the Registered Lending Fund solely as a result of the Registered Lending Fund investing cash collateral in the money market funds, and (d) to engage in principal transactions with, and pay brokerage commissions to, broker-dealers that are affiliated persons of the Registered Lending Fund solely as a result of the Registered Lending Fund investing cash collateral in the money market funds. (Rel. IC- 26462 - June 2) HOLDING COMPANY ACT RELEASES GEORGIA POWER COMPANY, ET AL. A notice has been issued giving interested persons until June 21, 2004, to request a hearing on a proposal by Georgia Power Company (Georgia Power), Gulf Power Company (Gulf Power), Mississippi Power Company (Mississippi Power) and Savannah Electric and Power Company (Savannah Power), each wholly-owned utility subsidiaries of The Southern Company (Southern), a registered holding company, and Southern Company Funding Corporation (Southern Funding), a wholly-owned subsidiary of Southern, for Southern Funding to issue and sell commercial paper from time to time prior to June 30, 2007, in an aggregate principal amount at any one time not to exceed $8.5 billion, and for Southern Funding to lend the proceeds of any issuances to Georgia Power, Gulf Power, Mississippi Power, and Savannah Power, and also to Alabama Power Company and Southern Electric Generating Company, also wholly-owned subsidiaries of Southern (Rel. 35-27849) CENTERPOINT ENERGY, INC. An order has been issued authorizing CenterPoint Energy, Inc., a registered holding company, to declare and pay dividends out of capital or unearned surplus for the second and third quarters of 2004, but only if CenterPoint's current earnings are insufficient to pay the dividends solely due to the occurrence of certain one-time events related to the implementation of the restructuring plan approved under the Texas restructuring law and related monetization of CenterPoint's interest in Texas Genco Holdings, Inc. (Rel. 35-27850) SCOTTISH POWER PLC, ET AL. An order has been issued authorizing proposals by Scottish Power plc (ScottishPower), a foreign registered holding company, Scottish Power UK Holdings Limited, a foreign utility subsidiary of Scottish Power, Scottish Power UK plc, a foreign utility subsidiary of Scottish Power, and Scottish Power NA 1 Limited and Scottish Power NA 2 Limited, intermediate registered holding companies; PacifiCorp Holdings Inc., an intermediate registered holding company, PacifiCorp., an electric utility subsidiary of Scottish Power, PacifiCorp Group Holding Company, an intermediate holding company for PacifiCorp nonutility subsidiaries, and PacifiCorp's nonutility subsidiaries: PPM Energy Inc., Pacific Klamath Energy, Inc.; PacifiCorp Financial Services, Inc.; Energy West Mining Company; Glenrock Coal Company; Interwest Mining Company; Pacific Minerals, Inc.; PacifiCorp Environmental Remediation Company; PacifiCorp Investment Management, Inc.; PACE Group, Inc.; Enstor, Inc.; Arlington Wind LLC; and Heartland Wind LLC (collectively, Applicants). Applicants have been authorized, through March 31, 2007, to enter into various external and intrasystem financing and related transactions. Various service company requests have also been approved. (Rel. 35-27851; International Series Rel. 1276) SELF-REGULATORY ORGANIZATIONS PROPOSED RULE CHANGE The Boston Stock Exchange filed a proposed rule change (SR-BSE-2003-09) and Amendment Nos. 1 and 2 thereto, pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934, relating to the extension of certain listed trading rules to the trading of Nasdaq securities. Publication of the proposal is expected in the Federal Register during the week of May 31. (Rel. 34-49771) WITHDRAWAL GRANTED An order has been issued granting the application of Celanese AG to withdraw its Ordinary Shares, no par value, from listing and registration on the New York Stock Exchange, effective at the opening of business on June 2, 2004. (Rel. 34-49789) 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-3 CERTIFIED SERVICES INC, 4850 W FLAMINGO RD, #23, LAS VEGAS, NV, 89103, 7023142805 - 15,620,000 ($16,401,000.00) Equity, (File 333-116043 - Jun. 1) (BR. 08) F-3 BLUEPHOENIX SOLUTIONS LTD, 8 MASKIT STREET, HERZLIA, L3, 46120, 972-9-9526100 - 2,108,411 ($12,180,660.00) Equity, (File 333-116044 - Jun. 1) (BR. 03) S-8 MAGNUM DIOR RESOURCES INC, 3266 YONGE STREET STE 1208, BC, TORONTO ONTARIO CANA, A6, 00000, 10,000,000 ($1,080,000.00) Equity, (File 333-116046 - Jun. 1) (BR. 08) S-8 CREDENCE SYSTEMS CORP, 215 FOURIER AVE, FREMONT, CA, 94539, 5106577400 - 4,107,893 ($28,673,093.14) Equity, (File 333-116047 - Jun. 1) (BR. 36) S-1 GULFWEST ENERGY INC, 480 N. SAM HOUSTON PARKWAY EAST, SUITE 300, HOUSTON, TX, 77060, 2818201919 - 19,179,191 ($7,288,093.00) Equity, (File 333-116048 - Jun. 1) (BR. 04) SB-2 CYTODYN INC, 200 W. DEVARGAS ST., SUITE 1, SANTA FE, NM, 87501, 505-988-5520 - 0 ($187,500.00) Equity, (File 333-116049 - Jun. 1) (BR. 09) SB-2 UNIPRO FINANCIAL SERVICES INC, 1450 S. DIXIE HIGHWAY, SUITE 200, BOCA RATON, FL, 33432, 5612895175 - 852,500 ($5,035,000.00) Equity, (File 333-116050 - Jun. 1) (BR. 07) S-8 CYBERTEL COMMUNICATIONS CORP, 2820 LA MIRADA DRIVE, #H, VISTA, CA, 92083, 8006455557 - 750,000,000 ($1,275,000.00) Equity, (File 333-116051 - Jun. 1) (BR. 37) S-8 STREAM COMMUNICATIONS NETWORK INC, 400 BURRARD ST, SUITE 1020, VANCOUVER BC V6C 3A6, A1, 00000, 500,000 ($450,000.00) Equity, (File 333-116052 - Jun. 1) (BR. 37) S-8 ALLTEL CORP, ONE ALLIED DR, LITTLE ROCK, AR, 72202, 5019058967 - 5,000,000 ($253,050,000.00) Equity, (File 333-116053 - Jun. 1) (BR. 37) F-1 Gol Intelligent Airlines Inc., RUA TAMOIOS 246, JARDIM AEROPORTO, S?O PAULO, D5, 04630-000, 55 11 5033-4226 - 0 ($305,000,000.00) Equity, (File 333-116054 - Jun. 1) (BR. ) S-8 BUYERS UNITED INC, 14870 PONY EXPRESS ROAD, NONE, BLUFFDALE, UT, 84065, 8013203300 - 2,561,799 ($7,153,372.00) Equity, (File 333-116055 - Jun. 1) (BR. 37) S-3 KOGER EQUITY INC, 8880 FREEDOM CROSSING TRAIL, JACKSONVILLE, FL, 32256, 9047321000 - 0 ($471,358,750.00) Unallocated (Universal) Shelf, (File 333-116056 - Jun. 1) (BR. 08) SB-2 LIFESTREAM TECHNOLOGIES INC, 510 CLEARWATER LOOP, STE 101, POST FALLS, ID, 83854, 2084579409 - 120,638,838 ($4,569,999.00) Equity, (File 333-116059 - Jun. 1) (BR. 36) S-3 COVAD COMMUNICATIONS GROUP INC, 110 RIO ROBLES, SAN JOSE, CA, 95134, 4089526400 - 0 ($125,000,000.00) Debt Convertible into Equity, (File 333-116060 - Jun. 1) (BR. 37) S-8 COVAD COMMUNICATIONS GROUP INC, 110 RIO ROBLES, SAN JOSE, CA, 95134, 4089526400 - 0 ($49,096,046.00) Equity, (File 333-116061 - Jun. 1) (BR. 37) S-8 STANCORP FINANCIAL GROUP INC, 1100 S W SIXTH AVENUE, PORTLAND, OR, 97204, 5033217000 - 1,000,000 ($63,270,000.00) Equity, (File 333-116062 - Jun. 1) (BR. 01) SB-2 INTERNATIONAL COMMERCE DEVELOPMENT CORP, 33 EASTON AVE, WATERBURY, CT, 06704, 203-753-9500 - 0 ($3,010,000.00) Equity, (File 333-116063 - Jun. 1) (BR. ) 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 ------------------------------------------------------------------------------------------------ 3M CO DE X 06/01/04 ACLARA BIOSCIENCES INC DE X X 06/01/04 AEGIS ASSESSMENTS INC DE X 05/21/04 AEGIS ASSESSMENTS INC DE X 06/01/04 AFC ENTERPRISES INC MN X X 05/28/04 AIRSPAN NETWORKS INC WA X 06/01/04 AJAY SPORTS INC DE X 06/01/04 AK STEEL HOLDING CORP DE X X 05/27/04 ALEXANDERS INC DE X 05/27/04 ALKERMES INC PA X X X 06/01/04 ALLETE INC MN X 06/01/04 ALPHA NUTRACEUTICALS INC CA X 05/29/04 AMANASU ENVIRONMENT CORP NV X X 05/26/04 AMERICAN AXLE & MANUFACTURING HOLDING DE X X 06/01/04 AMERICAN ECOLOGY CORP DE X 05/14/04 AMERICAN GOLDFIELDS INC NV X 05/26/04 ANALEX CORP NY X X X 05/28/04 APOGENT TECHNOLOGIES INC WI X X 05/28/04 APPLIED FILMS CORP CO X X 06/01/04 ARRAY BIOPHARMA INC DE X X 06/01/04 ASSISTED LIVING CONCEPTS INC NV X X 05/28/04 ASTEC INDUSTRIES INC TN X X 06/01/04 ATLAS AIR INC DE X X 05/27/04 ATLAS AIR WORLDWIDE HOLDINGS INC DE X X 05/27/04 AXESSTEL INC NV X 05/28/04 AXSYS TECHNOLOGIES INC DE X X 06/01/04 BANC OF AMERICA MORT SEC INC MORT PS DE X X 05/25/04 BANC OF AMERICA MORT SEC INC MORT PAS DE X X 05/25/04 BANC OF AMERICA MORT SEC INC MORT PAS DE X X 05/25/04 BANC OF AMERICA MORT SEC INC MORT PAS DE X X 05/25/04 BANC OF AMERICA MORT SEC INC MORT PAS DE X X 05/25/04 BANC OF AMERICA MORT SEC INC MORT PAS DE X X 05/25/04 BANC OF AMERICA MORT SEC INC MORT PAS DE X X 05/25/04 BANC OF AMERICA MORT SEC INC MORT PAS DE X X 05/25/04 BANC OF AMERICA MORT SEC INC MORT PAS DE X X 05/25/04 BANC OF AMERICA MORT SEC INC MORT PAS DE X X 05/25/04 BANC OF AMERICA MORT SEC INC MORT PAS DE X X 05/25/04 BANC OF AMERICA MORT SEC INC MORT PAS DE X X 05/25/04 BANC OF AMERICA MORT SEC INC MORT PS NY X X 05/25/04 BANC OF AMERICA MORT SEC INC MORT PS DE X X 05/25/04 BANC OF AMERICA MORT SECS INC MORT PA DE X X 05/25/04 BANC OF AMERICA MORTGAGE PASS-THROUGH DE X X 05/25/04 BANC OF AMERICA MORTGAGE SEC INC MORT DE X X 05/25/04 BANC OF AMERICA MORTGAGE SEC INC MRT DE X X 05/25/04 BANC OF AMERICA MORTGAGE SECURITIES I DE X X 05/25/04 BANC OF AMERICA MORTGAGE SECURITIES P DE X X 05/25/04 BANC OF AMERICA MORTGAGE SECURITIES S DE X X 05/25/04 BANCSHARES OF FLORIDA INC FL X X 05/25/04 BANK OF AMERICA MORT SEC INC MORT PAS DE X X 05/25/04 BEVERLY ENTERPRISES INC DE X 05/27/04 BHA GROUP INC DE X X 06/01/04 BIKINI TEAM INTERNATIONAL INC UT X X 05/27/04 BIO LOGIC SYSTEMS CORP DE X 05/25/04 BOSTON CAPITAL TAX CREDIT FUND IV LP DE X 04/27/00 BOSTON SCIENTIFIC CORP DE X X 06/01/04 BRADY CORP WI X X 05/20/04 BRIDGFORD FOODS CORP CA X X 05/28/04 BUCKLE INC NE X 06/01/04 BWAY CORP DE X X 05/28/04 CALIFORNIA AMPLIFIER INC DE X 05/28/04 CALYPTE BIOMEDICAL CORP DE X X 05/28/04 CANYON RESOURCES CORP DE X X 06/01/04 CARDIAC SCIENCE INC DE X 05/04/04 CARDIMA INC DE X X 05/28/04 CDI CORP PA X 05/19/04 CENDANT MORTGAGE CAPITAL LLC CDMC MO DE X 05/25/04 CENDANT MORTGAGE CAPITAL LLC CDMC MOR DE X 05/25/04 CENTRAL VERMONT PUBLIC SERVICE CORP VT X 05/28/04 CENTURY BUSINESS SERVICES INC DE X 06/01/04 CHEFS INTERNATIONAL INC DE X X 06/01/04 CHURCH & DWIGHT CO INC /DE/ DE X X 06/01/04 CI SELL CARS INC TX X 05/28/04 CIB MARINE BANCSHARES INC WI X 05/29/04 CIGNA CORP DE X 06/01/04 CNL HOSPITALITY PROPERTIES INC MD X X 05/28/04 COLUMBIA BANKING SYSTEM INC WA X X 06/01/04 COMBANC INC DE X X 06/01/04 COMMUNITY TRUST BANCORP INC /KY/ KY X X 06/01/04 CONSUMERS FINANCIAL CORP PA X X 05/27/04 AMEND COVAD COMMUNICATIONS GROUP INC DE X X 06/01/04 CRITICAL PATH INC CA X X 06/01/04 CSFB MORTGAGE BACKED PASS THR CERTS S DE X X 05/25/04 CSFB MORTGAGE BACKED PASS THROUGH CER DE X X 05/25/03 CSFB MORTGAGE BACKED PASS THROUGH CER DE X X 05/25/04 CSFB MORTGAGE BACKED PASS THRU CERT S DE X X 05/27/04 CWMBS INC DE X X 05/28/04 CYBEX INTERNATIONAL INC NY X X 06/01/04 CYOKONOS CORP X X 01/30/04 AMEND DATATEC SYSTEMS INC DE X X 06/01/04 DEERE & CO DE X 06/01/04 DEUTSCHE MORT SEC INC MORTGAGE LOAN T X X 05/25/03 DEUTSCHE MORTGAGE SEC INC MORT LOAN T X X 05/25/04 DISCOVER CARD MASTER TRUST I DE X 05/31/04 DOW CHEMICAL CO /DE/ DE X X 06/01/04 DUCKWALL ALCO STORES INC KS X 06/01/04 DYCOM INDUSTRIES INC FL X X 05/24/04 DYNEGY INC /IL/ IL X X 05/27/04 EDGAR ONLINE INC DE X 06/01/04 ENSCO INTERNATIONAL INC DE X 06/01/04 ENVIRONMENTAL POWER CORP DE X X 05/26/04 ENXNET INC OK X X 06/01/04 EON COMMUNICATIONS CORP DE X X 06/01/04 EON COMMUNICATIONS CORP DE X X 06/01/04 EPIX MEDICAL INC X X 06/01/04 ESTERLINE TECHNOLOGIES CORP DE X 06/01/04 EURONET WORLDWIDE INC DE X 05/24/04 EXCO RESOURCES INC TX X X 06/01/04 EZ EM INC DE X 05/27/04 FIRST ALBANY COMPANIES INC NY X X 06/01/04 FIRST PLACE FINANCIAL CORP /DE/ DE X X 05/28/04 FLEXIBLE SOLUTIONS INTERNATIONAL INC NV X X 05/27/04 FRANKLIN STREET PROPERTIES CORP /MA/ X 06/01/04 GENTA INC DE/ DE X 06/01/04 GMAC Mortgage Pass-Through Certificat DE X X 05/25/04 GREAT LAKES BANCORP INC DE X 05/25/04 GREAT PLAINS ENERGY INC MO X 05/26/04 GS MORTGAGE SECURITIES CORP DE X X 05/27/04 HEALTHAXIS INC PA X 05/28/04 HEALTHSOUTH CORP DE X X 05/28/04 HEALTHSOUTH CORP DE X 06/01/04 HEPALIFE TECHNOLOGIES INC FL X X 06/01/04 HORNBECK OFFSHORE SERVICES INC /LA DE X X 05/28/04 HOST MARRIOTT CORP/ MD X X 05/26/04 IBIS TECHNOLOGY CORP MA X 06/01/04 IMAGISTICS INTERNATIONAL INC DE X 06/01/04 IMATION CORP DE X 06/01/04 IMPERIAL INDUSTRIES INC DE X X 06/01/04 INDUSTRIAL DISTRIBUTION GROUP INC DE X X 06/01/04 INDYMAC MBS INC X X 06/01/04 INTERNATIONAL WIRELESS INC MD X X 12/11/03 AMEND IONATRON, INC. DE X X X 03/18/04 AMEND J.P. Morgan Mortgage Trust 2004-A2 DE X X 02/26/04 KOGER EQUITY INC FL X X 04/02/04 AMEND LABOR READY INC WA X 06/01/04 LAS VEGAS SANDS INC NV X X 06/01/04 LEHMAN ABS CORP VERIZON NEW YORK DEBE DE X 05/28/04 LIBERTY STAR GOLD CORP NV X X 05/31/04 MANATRON INC MI X X 06/01/04 MANUGISTICS GROUP INC DE X 06/01/04 MARVELL TECHNOLOGY GROUP LTD D0 X X 06/01/04 MASTR ADJUSTABLE RATE MORTGAGES TRUST DE X X 05/25/03 MATRIX BANCORP INC CO X X 05/28/04 MB FINANCIAL INC /MD MD X 06/01/04 MERIDIAN HOLDINGS INC CO X 06/01/04 MERRILL LYNCH & CO INC DE X X 06/01/04 MERRILL LYNCH & CO INC DE X X 06/01/04 MERRILL LYNCH & CO INC DE X X 06/01/04 MERRILL LYNCH & CO INC DE X X 06/01/04 METALLURG HOLDINGS INC DE X 06/01/04 METALLURG INC DE X 06/01/04 MICRON ENVIRO SYSTEMS INC NV X 06/01/04 MODENA I INC DE X 05/12/04 MONTPELIER RE HOLDINGS LTD D0 X X 06/01/04 MORTGAGE ASSET SEC TRANS INC MASTR AL DE X X 05/25/04 MORTGAGE ASSET SECURITIZATION TRANSAC DE X 06/01/04 MORTGAGE ASSET SECURITIZATION TRANSAC DE X X 05/28/04 MORTGAGE ASSET SECURITIZATION TRANSAC DE X X 05/28/04 NAVISTAR INTERNATIONAL CORP DE X X 05/26/04 NEW CENTURY FINANCIAL CORP DE X X 05/21/04 NEWAVE INC UT X 05/24/04 NEWPORT CORP NV X X 05/28/04 NISOURCE INC/DE DE X 05/31/04 NORSTAN INC MN X X 06/01/04 NORTEL NETWORKS CORP X X 05/28/04 NORTEL NETWORKS LTD X X 05/28/04 NORTH AMERICAN GENERAL RESOURCES CORP X X 05/13/04 NORTH AMERICAN GENERAL RESOURCES CORP X X 05/26/04 NUCOTEC INC NV X X 05/27/04 OFFICE DEPOT INC DE X X 06/01/04 OHIO LEGACY CORP OH X X 05/21/04 ONYX ACCEPTANCE CORP DE X X 05/27/04 OSI SYSTEMS INC CA X X 03/19/04 AMEND PAULA FINANCIAL DE X 05/28/04 PEC SOLUTIONS INC DE X X 06/01/04 PEOPLES BANCORP INC OH X 06/01/04 PERRY ELLIS INTERNATIONAL INC FL X 05/25/04 PHARSIGHT CORP CA X 06/01/04 PIPELINE DATA INC X 03/31/04 PIPELINE DATA INC X 03/31/04 PIPELINE DATA INC X 03/31/04 PMA CAPITAL CORP PA X 05/25/04 PPL CORP PA X 06/01/04 PPOL INC CA X 06/01/04 PRIVATEBANCORP INC DE X 06/01/04 PROLOGIC MANAGEMENT SYSTEMS INC AZ X X 05/25/04 PROVIDENCE & WORCESTER RAILROAD CO/RI RI X X 05/28/04 PSF GROUP HOLDINGS INC NC X X 06/01/04 QUINTILES TRANSNATIONAL CORP NC X 06/01/04 R&G FINANCIAL CORP PR X X 06/01/04 RADIAN GROUP INC DE X X 06/01/04 RAMCO GERSHENSON PROPERTIES TRUST MA X X 05/26/04 RANGE RESOURCES CORP DE X X 06/01/04 RASCALS INTERNATIONAL INC DE X 06/01/04 RCN CORP /DE/ DE X X X 06/01/04 RELM WIRELESS CORP NV X X 05/27/04 RESIDENTIAL ASSET SECURITIES RASC SER DE X X 06/01/04 SANDERSON FARMS INC MS X X 05/25/04 SCS TRANSPORTATION INC DE X X 06/01/04 SE FINANCIAL CORP X X 06/01/04 SECURED DIVERSIFIED INVESTMENT LTD NV X 05/21/04 Securitisation Advisory Services Meda X X 05/18/04 SIGA TECHNOLOGIES INC DE X X 06/01/04 SK TECHNOLOGIES CORP DE X X X X X 05/28/04 SOFTECH INC MA X 05/26/04 SONICBLUE INC DE X X 04/30/04 SORRENTO NETWORKS CORP NJ X X 05/25/04 SPIDERBOY INTERNATIONAL INC MN X X X 02/27/04 AMEND STATER BROS HOLDINGS INC DE X X 06/01/04 STRATEX NETWORKS INC DE X 05/27/04 STRUCTURED ASSET SECURITIES CORP DE X 05/28/04 STRUCTURED ASSET SECURITIES CORP DE X 05/28/04 SURFNET MEDIA GROUP INC DE X 05/28/04 SWIFT TRANSPORTATION CO INC NV X 05/24/04 TALK AMERICA HOLDINGS INC DE X 06/01/04 TECHTEAM GLOBAL INC DE X X 06/01/04 TELEGLOBE INTERNATIONAL HOLDINGS LTD X X 05/28/04 THESTREET COM DE X X 04/24/03 TIERONE CORP X X 05/28/04 TIPPINGPOINT TECHNOLOGIES INC DE X X 06/01/04 TOMPKINS TRUSTCO INC NY X 05/28/04 TRANS INDUSTRIES INC DE X 05/18/04 AMEND TRANSKARYOTIC THERAPIES INC DE X 05/28/04 TRANSOCEAN INC E9 X 06/01/04 TRESTLE HOLDINGS INC DE X X 06/01/04 TRINITY LEARNING CORP UT X 05/20/04 TUMBLEWEED COMMUNICATIONS CORP DE X 03/18/04 AMEND UNITED AMERICAN HEALTHCARE CORP MI X 05/14/04 UNITED BANCORPORATION OF ALABAMA INC DE X X 05/26/04 UNITED NATURAL FOODS INC DE X X 06/01/04 UNIVERSAL AMERICAN FINANCIAL CORP NY X X 05/28/04 UNIVERSAL TECHNICAL INSTITUTE INC DE X 06/01/04 US UNWIRED INC LA X X 06/01/04 VCA ANTECH INC DE X X 06/01/04 VENTURE CATALYST INC UT X X 05/25/04 VIACOM INC DE X X 06/01/04 VIALINK CO DE X 05/27/04 VIDEO DISPLAY CORP GA X X 05/27/04 VIEWCAST COM INC DE X X 06/01/04 VION PHARMACEUTICALS INC DE X X 06/01/04 VIROLOGIC INC DE X X 05/28/04 VISTA GOLD CORP X 05/25/04 VISTA GOLD CORP X 05/25/04 WEBCO INDUSTRIES INC OK X X 06/01/04 WEST BANCORPORATION INC IA X X 06/01/04 WESTPOINT STEVENS INC DE X 04/30/04 WHOLESALE AUTO RECEIVABLES CORP DE X 05/19/04 WILBER CORP X X 05/28/04 WILLIAMS COMPANIES INC DE X X 05/27/04 WORLD ACCESS INC /NEW/ DE X X 05/26/04 XFONE INC NV X 05/28/04 YP CORP NV X X 05/29/04 YP CORP NV X X 05/30/04 YP CORP NV X X 06/01/04 ZANETT INC DE X 05/24/04