SECURITIES AND EXCHANGE COMMISSION
                                   Washington, D.C.

          LITIGATION RELEASE NO. 15854 / August 20, 1998

          SECURITIES AND EXCHANGE COMMISSION v. DAVID L. CHANDLER
          Civil Action No. CV-98-02005 (SS)(D.D.C.)

          The Securities and Exchange Commission  on August 19, 1998, filed
          a  civil  action  in  the  United  States  District Court for the
          District  of  Columbia against David L. Chandler.  The  complaint
          alleges that Chandler  violated  a Commission order requiring him
          to  cease  and  desist  from,  among  other   things,  committing
          violations of the reporting requirements applicable to securities
          transactions of officers, directors, and certain  shareholders of
          public companies (Section 16(a) of the Securities Exchange Act of
          1934  ("Exchange Act")). Chandler had previously been  sanctioned
          for violating  these  legal  requirements:  in  October 1994, the
          Commission  issued  an order finding that Chandler  had  violated
          Sections 13(d) and 16(a)  of the Exchange Act, former Rule 16a-1,
          and Rules 13d-1, 13d-2, 16a-2, and 16a-3 thereunder.  In December
          1995, Chandler again improperly  failed to report transactions he
          effected in the securities of Jupiter  National,  Inc., through a
          securities  account  he  opened  in  the  name  of  his daughter.
          Chandler  was  chairman  of  the  board  of  directors  and chief
          executive  officer  of  Jupiter  National  at that time. Chandler
          consented,   without   admitting  or  denying  the   Commission's
          allegations, to the entry  of  an  order  requiring  him to pay a
          civil penalty of $60,000.

          In   a   related   matter,   the   Commission   today  issued  an
          administrative order pursuant to Section 21C of the Exchange Act,
          requiring  Chandler  to  cease  and  desist  from  violating  the
          reporting requirements as set forth above.  Chandler consented to
          the  entry  of  the  order  without  admitting  or  denying   the
          Commission's  allegations. See related Securities Exchange Act of
          1934 Release No. 40346.