UNITED STATES OF AMERICA
before the
SECURITIES AND EXCHANGE COMMISSION

Securities Act of 1933
Rel. No. 7871 / July 6, 2000

Securities Exchange Act of 1934
Rel. No. 43012 / July 6, 2000

Admin. Proc. File No. 3-10055

The Division of Enforcement and the Office of the Secretary have been unable to serve Dwight H. Stephens with the Order Instituting Proceedings issued on September 30, 1999, nor has Stephens otherwise appeared in this action. Under the circumstances, it is appropriate to discontinue the proceedings without prejudice.

Accordingly, IT IS ORDERED that the proceedings against Dwight H. Stephens be, and they hereby are, discontinued, without prejudice.

By the Commission.

Margaret H. McFarland

Deputy Secretary