U.S. SECURITIES AND EXCHANGE COMMISSION

          Litigation Release No. 15825 / July 30, 1998


          Securities and Exchange Commission v. Frank A. M. Luca, Rudy
          Crosswell and Paula G. Den Boer, Civil Action No. 97-1813 (PHX)
          (EHC) (D. AZ).

               The Commission announced that on July 17, 1998, Judge Earl
          H. Carroll of the District Court for the District of Arizona
          entered Final Injunctions of Permanent Injunction based upon
          consent against Rudy Crosswell ("Crosswell") and Paula G. Den
          Boer ("Den Boer").  The Commission's Complaint filed on August
          27, 1997 had charged Crosswell and Den Boer with sale of
          unregistered securities in violation of Sections 5(a) and 5(c) of
          the Securities Act of 1933 ("Securities Act") and failure to
          register as a broker in violation with Section 15(a)(1) of the
          Securities Exchange Act of  1934 ("Exchange Act").  The case
          remains pending against Defendant Frank A. M. Luca.

               The Commission also announced that on July 27, 1998, it
          issued an Order Instituting Public Administrative Proceeding
          Pursuant to Sections 15(b) and 19(h) of the Securities Exchange
          Act of 1934, Making Findings, and Imposing Remedial Sanctions
          against Crosswell and Den Boer based on the entry of an
          injunction against them.  The Complaint alleged that Crosswell
          and Den Boer engaged in the sale of unregistered securities and
          sold securities as unregistered brokers or dealers.  The
          Commission accepted Crosswell's and Den Boer's Offer of
          Settlement in which they both consented, (without admitting or
          denying the Commission's findings, to the entry of an order
          suspending both of them from association with any broker or
          dealer, for a period of twelve months.  In the Matter of Rudy
          Crosswell and Paula G. Den Boer Administrative Proceeding File
          No. 3-9656.