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                 SECURITIES AND EXCHANGE COMMISSION
                         Washington, D.C.



LITIGATION RELEASE NO. 14959 / June 24, 1996

SECURITIES AND EXCHANGE COMMISSION v. MONTGOMERY MEDICAL
VENTURES, L.P., MONTGOMERY MEDICAL PARTNERS, L.P., MONTGOMERY
MEDICAL VENTURES II, L.P., MONTGOMERY MEDICAL PARTNERS II, L.P., 
Civ. No. 96-1444 (JHG) (D.D.C.) (filed June 24, 1996)

     On June 24, 1996, the Commission filed a complaint in the
United States District Court for the District of Columbia against
two venture capital limited partnerships, Montgomery Medical
Ventures, L.P. ("MMV") and Montgomery Medical Ventures II, L.P.
("MMVII"), and Montgomery Medical Partners, L.P. ("MMP") and
Montgomery Medical Partners II, L.P. ("MMPII"), the general
partners of such partnerships (collectively "the Montgomery
entities").  The Commission alleged that the Montgomery entities
violated Sections 13(d), 13(g) and 16(a) of the Securities
Exchange Act of 1934 ("Exchange Act"), and Rules 13d-1, 13d-2,
16a-2, 16a-3 and former Rule 16a-1 thereunder, by untimely filing
four Schedules 13D and 13G and twenty amendments thereto, with
respect to transactions in the securities of six issuers, and by
untimely filing nineteen Forms 3 and amendments thereto, thirty
Forms 4 and one Form 5 with respect to transactions in the
securities of eight issuers.  The total value of the transactions
exceeds $7.6 million.  The Commission requested the court to
impose civil penalties of $15,000 against each defendant, for a
total of $60,000, pursuant to Section 21(d)(3) of the Exchange
Act.  Without admitting or denying the allegations in the
complaint, the Montgomery entities consented to the entry of a
final judgment imposing the penalties.

     In related matters, the Commission issued administrative
Orders pursuant to Section 21C of the Exchange Act against the
Montgomery entities, Richard Propper ("Propper") and Jack
Olshansky ("Olshansky"), general partners of MMP and MMPII,
finding that they violated Sections 13(d), 13(g), and 16(a) of
the Exchange Act and Rules 13d-1, 13d-2, 16a-2, 16a-3, and former
Rule 16a-1.  Without admitting or denying the allegations in the
Commission's Orders, the Montgomery entities, Propper and
Olshansky consented to the entry of orders requiring them to
cease and desist from committing or causing any violation or
future violation of those provisions.