RGW Acquisition Corporation I, RGW Acquisition Corporation II, RGW Acquisition Corporation III, RGW Acquisition Corporation IV, RGW Acquisition Corporation V, RGW Acquisition Corporation VI, RGW Acquisition Corporation VII, RGW Acquisition Corporation VIII, RGW Acquisition Corporation IX, RGW Acquisition Corporation X

SECURITIES EXCHANGE ACT OF 1934
Release No. 48183 / July 16, 2003

ADMINISTRATIVE PROCEEDING
File No. 3-11183

Proceedings Instituted against RGW Acquisition Corporations I through X

The Commission instituted administrative proceedings pursuant to Section 12(j) of the Securities Exchange Act of 1934 ("Exchange Act") against ten "blank check" corporations, RGW Acquisition Corporations I through X of Atlanta, Georgia, seeking a suspension or revocation of the registration of their common stock. In the Order Instituting Proceedings ("Order"), the Division of Enforcement alleges that RGW Acquisition Corporations I through X have failed to comply with Section 13(a) of the Exchange Act and Rules 13a-1 and 13a-13 thereunder by failing to file mandatory annual and quarterly reports since on or about December 2000.

A hearing will be scheduled before an administrative law judge to determine whether the allegations contained in the Order are true, to provide RGW Acquisition Corporations I through X an opportunity to dispute the allegations, and to determine whether to suspend or revoke the registration of the common stock of the corporations.