UNITED STATES SECURITIES AND EXCHANGE COMMISSION

     Litigation Release 15395 / June 25, 1997                  

     SEC v. J. Scott Eskind
     (Civil Action No. 1: 97-CV-1790-CAM, N.D. Ga.)

          The Securities and Exchange Commission announced today that on June
     23, 1997, the Honorable Charles A. Moye, Jr., United States District Judge
     for the Northern District of Georgia, entered an order of preliminary
     injunction and other relief as to defendant J. Scott Eskind ("Eskind"), of
     Atlanta, Georgia.  The order enjoins and restrains Eskind from violating
     Section 17(a) of the Securities Act of 1933, Section 10(b) of the
     Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and Section 206
     of the Investment Advisers Act of 1940.  The Court ordered a freeze of
     assets held or controlled by Eskind. The Court further ordered Eskind to
     prepare a sworn accounting of all monies received from the scheme and of
     the disposition and use of said funds.  The accounting is to be submitted
     to the Court within 20 days of the date of the Court's order.

          Eskind consented to the relief without admitting or denying the
     allegations set forth in a complaint, filed by the Commission on June 20,
     1997.  In its complaint, the Commission alleged that, between November 1994
     and May 1996, Eskind was secretary and treasurer of Tower Asset Management
     ("Tower"), the general partner and investment adviser of Asset Management
     Fund, L.P. ("Asset Management"), a limited partnership formed for the
     purpose of investing in securities.  In or before April 1996, Eskind
     misappropriated or converted approximately $246,000 of Asset Management's
     assets, and concealed his actions by falsifying the partnership's books. 
     When the thefts were discovered, Eskind was terminated by Tower.
       
          After his dismissal from Tower, Eskind solicited investments from the
     public using Asset Management's offering documents.  Between December 1996
     and May 1997, Eskind induced or attempted to induce at least three
     investors to invest in what was falsely purported to be Asset Management. 
     Eskind persuaded two of the investors to invest, respectively, $500,000 and
     $150,000 in his scheme.  Eskind did not disclose to the investors that he
     had been terminated by Tower nor did he disclose that Asset Management had
     been dissolved.
                













                              ======END OF PAGE 1======