==========================================START OF PAGE 1====== SECURITIES AND EXCHANGE COMMISSION Washington, D.C. Litigation Release No. 15058 / September 20, 1996 SECURITIES AND EXCHANGE COMMISSION v. TECHNOLOGY INTERNATIONAL, LTD., NEIL F. GARFIELD, ET AL., Civil Action No. 1:96CV00025JR (D.D.C.) The Securities and Exchange Commission announced today that the United States District Court for the District of Columbia entered a Final Judgment ordering a permanent injunction against Neil F. Garfield, the former chairman and president of Technology International, Ltd (TIL). Garfield was enjoined from future violations of the antifraud and securities registration and broker-dealer registration provisions of the federal securities laws. The complaint alleged that Garfield and other defendants raised at least $826,000 from investors through sales of unregistered securities of TIL, using high-pressure, boiler-room sales tactics, and by materially misrepresenting TIL's business activities, prospects, and financial condition. The complaint further alleged that TIL's financial statements for the third quarter of fiscal year 1993 were materially misstated because TIL improperly included assets it did not own and improperly deferred general and administrative expenses. Without admitting or denying the allegations in the complaint, Garfield consented to the entry of the Final Judgment, which sets disgorgement at $13,750, but waives payment based on Garfield's financial condition. The Final Judgment also notes the appropriateness of civil penalties under the Securities Enforcement Remedies and Penny Stock Reform Act of 1990, but does not impose them based on Garfield's financial condition. Garfield was enjoined from future violations of Sections 5 and 17(a) of the Securities Act of 1933, Sections 10(b) and 15(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder. ==========================================START OF PAGE 2======