Rule 11Ac1-5 Disclosure of Order Execution Information.

The following statement from SEC, explains the manner in which this monthly report shall be made available to the public:

"Procedures for Making Reports Available to the Public
In light of the large volume of data the monthly order execution reports necessarily will include, they must be made available by market centers in electronic form rather than in writing."

The reports that comply with rule 11Ac1-5 are available for download. (Exempt designates that ACAP Financial does not meet the requirements to report for this time period and there will be no file)

July, 05' - Exempt

August, 05' - Exempt

September, 05' - Exempt