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85-25 Bevill, Bresler & Schulman, Incorporated Bevill, Bresler & Schulman Securities, Inc. Austin Investment Planning, Inc. 301 South Livingston Avenue Livingston, New Jersey

TO: All NASD Members

ATTN: Operations Officer, Cashier, Fail-Control Department

On April 10, 1985, the United States District Court for the District of New Jersey appointed a Temporary Receiver for the above captioned firms.

Members may use the "immediate close-out" procedures as provided in Section 59 (i)(2) of the NASD's Uniform Practice Code to close-out open OTC contracts. Also, MSRB Rule G-12 (h)(iii) provides that members may use the above procedures to close-out transactions in municipal securities.

Questions regarding the firm should be directed to:

Temporary Receiver

Richard W. Hill, Esquire
McCarter & English
550 Broad Street
Newark, New Jersey 07102
Telephone: (201) 622-4444

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