==========================================START OF PAGE 1======

         UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 14944 / June 11, 1996

UNITED STATES OF AMERICA EX REL. SECURITIES AND EXCHANGE
COMMISSION v. DAVID STUART ZUCKERMAN (Southern District of Texas,
Houston Division) (Criminal Action No. H-96-03, filed January 4,
1996)

     The Commission and the United States Attorney for the
Southern District of Texas today announced that on April 8, 1996,
David Stuart Zuckerman was sentenced to 120 days in prison after
pleading guilty to criminal contempt for failure to obey two
separate Court Orders freezing his assets.  On September 14,
1992, the Honorable Sim Lake, U.S. District Court Judge, entered
an order of permanent injunction enjoining Zuckerman from
violations of the federal securities laws, freezing his assets
and determining that disgorgement and civil penalties were
appropriate.  Zuckerman was ultimately ordered to disgorge
$1,121,000 of ill-gotten gains, plus prejudgment interest in the
amount of $128,220 and to pay $550,000 in civil penalties. 
Zuckerman was prohibited from selling, assigning or pledging his
assets until he satisfied his obligation to pay disgorgement and
civil penalties.  Zuckerman violated the Court's orders by
pledging a 42 foot yacht as security for a loan, and selling his
interest in an airplane.