Nolan W. Wade Robert G. Mahony, Administrative Law Judge

SECURITIES EXCHANGE ACT OF 1934
Release No. 45143 / December 10, 2001

Administrative Proceeding
File No. 3-10650

ADMINISTRATIVE PROCEEDINGS INSTITUTED AGAINST NOLAN W. WADE

The Securities and Exchange Commission ("Commission") announced that on December 10, 2001, it issued an Order Instituting Public Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934 against Nolan W. Wade of Moselle, MS.

The Order alleges that the Commission filed a civil injunctive action entitled SEC v. Nolan W. Wade, et al., Case No. No. 98-1857 "S" (W.D. La.) against Wade in September 1998, alleging violations of the federal securities laws. The Division further alleges that Wade was enjoined from future violations by a court order issued in February 2000.

A hearing will be scheduled to take evidence on the staff's allegations and to afford the respondent an opportunity to present any defenses thereto. The purpose of the hearing is to determine whether the allegations are true, and whether any remedial action should be ordered by the Commission.