SECURITIES AND EXCHANGE COMMISSION
                         Washington, D.C.

SECURITIES EXCHANGE ACT OF 1934
RELEASE NO. 34-37043 / March 29, 1996             

The Securities and Exchange Commission announced the temporary
suspension, pursuant to Section 12(k) of the Securities Exchange
Act of 1934 (the "Exchange Act"), of over-the-counter trading of
the cancelled common stock of The Enstar Group, Inc. ("Enstar"),
of Montgomery, Alabama, at 3:00 p.m. (EST) on March 29, 1996, and
terminating at 2:59 p.m. (EST) on April 11, 1996.

The Commission temporarily suspended trading in the cancelled
common stock of Enstar because of a lack of current and accurate 
information concerning Enstar, which is currently a debtor-in-
possession pending liquidation pursuant to Chapter 11 of the U.S.
Bankruptcy Code.  On May 31, 1991, Enstar filed for bankruptcy
protection in U.S. Bankruptcy Court for the Middle District of
Alabama.  On February 24, 1992, the bankruptcy court approved a
plan to liquidate and dissolve Enstar.  This plan provided:
"Effective upon [June 1, 1992], all Common Stock shall be
cancelled and the holders of Shareholder Interests shall receive
nothing on account of such Shareholder Interests, which shall be
discharged."  On June 9, 1992, Enstar filed with the Commission a
certificate of termination of registration of its common stock. 
Because of a change in the value of Enstar's assets, on August
25, 1993, without reinstating the cancelled common stock, the
court approved a modification to the plan whereby Enstar's
shareholders of record as of June 1, 1992, could potentially
receive distributions and proceeds from any property in the
bankruptcy estate after "such time as the holders of [specified
priority claims] that are entitled to receive Property pursuant
to [the plan] have been paid in full [plus accrued interest]." 
The modification specifically prohibited the trading or transfer
of any claims, including Shareholder Interests, absent
authorization from either Enstar or the court.  Therefore,
according to the bankruptcy plan, unless a claim transfer has
been authorized by Enstar or the bankruptcy court, current
holders of Enstar's cancelled common stock who were not also
shareholders of record on June 1, 1992, may not be entitled to
receive distributions or any proceeds from the liquidation of
Enstar's property.

The Commission cautions broker-dealers, shareholders, and
prospective purchasers that they should carefully consider the
foregoing information along with all other currently available
information and any information subsequently issued by the
company.

Further, brokers and dealers should be alert to the fact that,
pursuant to Rule 15c2-11 under the Exchange Act, at the
termination of the trading suspension, no quotation may be
entered unless and until they have strictly complied with all of
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the provisions of the rule.  If any broker or dealer has any
questions as to whether or not he has complied with the rule, he
should not enter any quotation but immediately contact the staff
of the Securities and Exchange Commission in Washington, D.C.  If
any broker or dealer is uncertain as to what is required by Rule
15c2-11, he should refrain from entering quotations relating to
Enstar's cancelled common stock until such time as he has
familiarized himself with the rule and is certain that all of its
provisions have been met.  If any broker or dealer enters any
quotation which is in violation of the rule, the Commission will
consider the need for prompt enforcement action.

If any broker-dealer or other person has any information which
may relate to this matter, the Washington, D.C. office of the
Securities and Exchange Commission should be telephoned at (202)
942-4342.