SECURITIES AND EXCHANGE COMMISSION


            LITIGATION RELEASE NO. 15847 / August 13, 1998

            SECURITIES AND EXCHANGE COMMISSION V. ROBERT HUNTER, EDWARD R. DUDLIK, JR.,
            THOMAS F. GOLDMAN, W. KENNETH GREENWOOD, JOSEPH MCKEON, KATHY NAUMANN,
            BENJAMIN PAUL, THOMAS B. PILEGGI, JOHN ROSE, JOHN ROSE, JR., RAYMOND F. WHITE,
            AND H. CONSTANCE NEFF AS RELIEF DEFENDANT, CIVIL ACTION NO. 97-CV-4621 (E.D.
            Pa.) (Bartle, J.)

                  The Securities and Exchange Commission announced today the filing of
            final consent judgments of permanent injunction and other relief against
            defendants Robert Hunter and Thomas F. Goldman in the United States District
            Court for the Eastern District of Pennsylvania.  According to the Commission's
            Complaint, filed on July 16, 1997, Hunter, an INBC director at the time,
            learned that CoreStates Financial Corp. had made an acquisition proposal to
            acquire Independence Bancorp, Inc. ("INBC").  Hunter purchased INBC stock just
            prior to the merger announcement in November 1993 while in possession of this
            material, nonpublic information and made $250,875 in profits.  Hunter tipped
            eight of his relatives and friends who also purchased INBC stock, and he
            financed the INBC trades of others. Goldman, an attorney who was one of
            Hunter's tippees, made $9,000 in profits.

                  Without admitting or denying the allegations in the Complaint, Hunter
            and Goldman consented to the entry of final judgments of permanent injunction
            against future violations of the antifraud provisions of the federal
            securities laws.  Hunter agreed to disgorge $262,775, which includes his
            profits, the profits of his now-deceased sister, and the profits of one of his
            alleged tippees against whom the action is still pending.  He will pay
            prejudgment interest of $123,438.22 and a penalty of $262,775.  Hunter has
            also agreed to an officer and director bar.  Goldman agreed to disgorge his
            profits of $9,000 and to pay prejdugment interest of $4,431.54 and a penalty
            of $9,000.